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Venture Capital
precinctpartners.com

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Investments

5

Portfolio Exits

1

About Precinct Partners

Precinct Partners is a growth capital firm committed to partnering with entrepreneurs to help them accelerate growth and achieve high results. The firm provides long-term, patient capital to rapidly growing companies and work closely with management teams to develop their businesses.

Precinct Partners Headquarter Location

United States

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Latest Precinct Partners News

The Luxury Closet raises $8.7 million in its third round of investment

Jul 30, 2018

The Luxury Closet raises $8.7 million in its third round of investment After raising USD $7.8 million in Series B in September 2016,  online platform The Luxury Closet for buying and selling pre-owned luxury goods raised another round of $8.7 million from Middle East Venture Partners (MEVP), Wamda Capital, Precinct Partners, Tech Invest Com, Saned and Equitrust. In its third investment, the platform has now raised more capital than ever before and is scaling rapidly. With around 586,000 monthly unique visitors worldwide, the online platform aims to use the new funding to hire top management talent who can help the business scale even faster, according to Kunal Kapoor, CEO at The Luxury Closet. “The current mission for us is to target supply, by unlocking the fabulous closets this region has to offer. We plan to sign contracts with major retailers in the region, which will significantly facilitate access to supply,” he added. With a team of over 80 members, the platform currently offers and accepts around 488 luxury brands and its average order ticket is approximately $600. At the moment, its main focus will be on hiring, growing the team, scaling operations and targeting supply. Acquiring new sellers and maintaining a good balance of scaling to suit supply and demand remain two challenges, but the journey looks promising.

Precinct Partners Investments

5 Investments

Precinct Partners has made 5 investments. Their latest investment was in The Luxury Closet as part of their Series C on July 7, 2018.

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Precinct Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/30/2018

Series C

The Luxury Closet

$8.7M

Yes

3

2/7/2018

Series B

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$99M

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10

11/14/2016

Seed VC

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$99M

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10

11/7/2016

Series A

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$99M

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10

1/1/2016

Series A

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$99M

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10

Date

7/30/2018

2/7/2018

11/14/2016

11/7/2016

1/1/2016

Round

Series C

Series B

Seed VC

Series A

Series A

Company

The Luxury Closet

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Amount

$8.7M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

3

10

10

10

10

Precinct Partners Portfolio Exits

1 Portfolio Exit

Precinct Partners has 1 portfolio exit. Their latest portfolio exit was Mumzworld on June 28, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/28/2021

Corporate Majority

11

Date

6/28/2021

Exit

Corporate Majority

Companies

Valuation

Acquirer

Sources

11

Precinct Partners Team

1 Team Member

Precinct Partners has 1 team member, including current Managing Partner, Amjad Ahmad.

Name

Work History

Title

Status

Amjad Ahmad

Alghanim Industries, UBS, Credit Suisse, and PwC

Managing Partner

Current

Name

Amjad Ahmad

Work History

Alghanim Industries, UBS, Credit Suisse, and PwC

Title

Managing Partner

Status

Current

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