Stew Campbell, Partner at The Chernin Group, specializes in scaling consumer-facing companies. He dives into how growth equity goes beyond just capital, helping founders maintain their culture while scaling. The discussion covers building effective boards, the importance of collaboration, and aligning investor dynamics. Stew provides insights on when to consider a minority recap and differentiates growth equity from private equity and venture capital. Founders will learn to navigate investor relationships and develop a strategic 'North Star' for growth.
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insights INSIGHT
Growth Equity Defined
Growth equity combines futuristic growth investment with private equity discipline on profitability and strategy.
Investors support infrastructure, people, and international expansion while respecting P&L and positioning for sale.
question_answer ANECDOTE
Board Driving M&A Strategy
At Epic Gardening, the board drove M&A to own the customer journey from content to commerce.
This enables the brand to integrate product acquisitions, boosting growth by expanding beyond content.
volunteer_activism ADVICE
Use Investors as Resources
Use investor meetings as a two-way street: get insights and share valuable category knowledge.
This approach helps founders vet interested investors and build more meaningful relationships early.
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Stew Campbell, Partner at The Chernin Group In this episode of M&A Science, host Kison Patel sits down with Stew Campbell to explore how growth equity supports founder-led companies beyond just capital. Stew shares lessons from his career helping businesses scale while preserving their culture and mission. They discuss how founders should think about their boards, when to consider a minority recap, what separates elite investors, and how to navigate noisy capital markets with clarity and confidence.
Whether you're a founder eyeing your next stage of growth or an operator thinking through the right partner, this episode unpacks how to scale with intention.
Things you will learn:
What a value-creating board actually looks like—and how to build one
How to differentiate growth equity, private equity, and venture capital
When to consider a minority recap—and how to structure it
Why investor relationships are a long game and how to run your own "unbanked process"
M&A Science