Fitt Insider 305. Ellie Rubenstein and Ross Iverson, Co-Founders of Manna Tree
Sep 9, 2025
Ellie Rubenstein and Ross Iverson, co-founders of Manna Tree, discuss their journey in creating a wellness-focused private equity firm. They delve into innovative investment strategies that prioritize sustainability and adaptability in the evolving wellness sector. The conversation highlights generational spending shifts and changing consumer behaviors, especially among women. They also touch on the importance of relationship-building and the mainstreaming of wellness trends, making a compelling case for the future of health investments.
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Founders' Origin And Early Roadwork
- Ellie and Ross met in 2016 and officially launched Manna Tree in 2018 after pitching Ellie's family office at graduation.
- Ellie traveled extensively (323 days) to build relationships and the firm's brand in 2018–2019.
Invest At The Scale That Scales Brands
- Manna Tree targets growth-stage wellness companies needing $25–100M to scale to sustainable national distribution.
- Hitting ~$200M revenue often means national distribution and long-term consumer access.
Combine Travel With Scalable Marketing
- Prioritize in-person relationship building to earn founder and investor trust through shared experiences like meals and events.
- Use digital marketing and content as scalable follow-up to high-touch, in-person outreach.