Venture capital firm Willow Growth Partners has raised $28 million for its inaugural fund, which will invest in early stage consumer companies.

Willow Growth Partners announced the closure of the fund on June 30. The firm invests in consumer brands in areas such as beauty, health and wellness and personal care, providing support for companies with revenues of about $1 million to $5 million.

Nearly 75% of the companies in Willow Growth Partners’ portfolio were founded by women or minorities. The firm, which was co-founded by women, has invested in companies such as international shipping platform FlavorCloud, baby personal care company Coterie and skincare brand Bubble.

"We do not invest through a specific gender or diversity lens; we simply back the best and strongest founders,” co-founder and general partner Amanda Schutzbank said in a statement. “As two female GPs, we are highly cognizant of building a platform that welcomes and encourages all founders from diverse backgrounds that understand their consumers’ needs."

Willow Growth Partners also aims to help companies become appealing choices for acquisition or investment, according to the announcement.

“From my time as an operator and seed investor, I recognized there was a real need for a fund that provides the right type of capital to early stage consumer brands,” said Deborah Benton, co-founder and managing partner of Willow Growth Partners.

Benton previously served as president and chief operating officer of Nasty Gal and was recently was an angel investor in brands such as TrueBotanicals and Manscaped. Schutzbank formerly served as an investor at Amplify.LA and was vice president of marketing at Karma Mobility, Inc., where she was a member of the founding team.