Makeup, wit and fit. These are three “her” Kind Snacks founder Daniel Lubetzky look for when investing in founders.
Lubetzky, who sold Kind Snacks for $5 billion in 2020, is now the founder and chairman of Camino Partnersor The $350 million fund it started in January 2023 that concentrated the first investments in consumer-facing brands. Camino means “journey” in Spanish; the fund's name relates to its focus on companies that positively impact the lives of consumers.
In an interview with entrepreneurLubetzky revealed exactly what he looks for in the founders he invests in.
“I look for good human beings (who) have good values, (and) care about each other,” Lubetzky said. “When things don't work out the way they expect, you enjoy supporting them through thick and thin, because in every entrepreneur's life there will be ups. There will be downs.”
Daniel Lubetzky. Credit: Christopher Willard/ABC via Getty Images
Lubetzky said he looks for three main traits: grit (the ability to persevere despite challenges), intelligence (creativity to find new solutions), and fit (does the founder match Lubetzky's values and is the company suitable for the current market).
“When the downturns come, you want to make sure you're aligned with people, with your values,” he said.
However, the market “ideally” shows it wants the solution the entrepreneur is proposing, Lubetzky added.
For entrepreneurs who are just in the idea stage of their business, Lubetzky has the following advice: Ask yourself what interests you, find that purpose, and stick to it.
“It gives you the fuel to be strong,” Lubetzky said. “When you start a business, you're going to have so many challenges.”
Lubetzky will join ABC's “Shark Tank” as a regular cast member for season 16, premiering Friday.
He's already made several notable investments as a guest Shark in previous seasons, including a $1 million investment in hand-woven hammock company Yellow Leaf Hammocks.