UPDATE: Peter Cornetta, Former Managing Director at H.I.G. Capital, Joins Highland Consumer Fund
CAMBRIDGE, Mass., Jan. 15, 2013 /PRNewswire via COMTEX/ --
Highland Consumer Fund, the leading venture capital fund led by Staples founder Tom Stemberg today announced that Peter Cornetta joined the firm as a Managing General Partner. Peter will focus on investing in growth-oriented companies with proven business models and working with existing portfolio companies to best position them for successful exits.
Peter has spent the last fourteen years in mergers and acquisitions leading investments in consumer sectors, media, healthcare services and manufacturing. Peter joined H.I.G. Capital in 2003 as a member of the firm's leverage buyout group and was a Managing Director in the Boston office. He has been involved in all aspects of the investment process from investment origination, transaction negotiation, and execution of post-closing development. Prior to joining H.I.G., Peter was a Principal with the leading Boston-based private equity firm, Advent International. Peter has acted as a director on the boards of companies such as: American Radiology Services, Captivate Networks, Farley Doors & Windows, Pro Pet, Resort Sports Network and The Spring Air Company.
"There is no substitute for experience and with Peter's extensive M&A background we add a critical asset to our team," said Tom Stemberg, Managing General Partner. "Peter understands the journey from first investment through rapid growth and ultimately an IPO or acquisition strategy. He will be an exceptional addition to the Highland Consumer Fund."
"The launch of the Highland Consumer Fund in 2007 has filled a void in the underserved consumer market community that is ripe with promising investment opportunities," said Peter Cornetta. "Tom Stemberg has built an organization based on a focused approach and strategy to developing the next generation of consumer-facing enterprises that are primed and ready for attractive exit opportunities."
About The Highland Consumer FundThe Highland Consumer Fund specializes in retail, services and consumer products investment opportunities in growth-focused companies with proven business models operating in attractive markets. The Fund brings together an investment team with extensive experience founding, growing, operating and investing in successful consumer companies. It also offers companies a unique value proposition through the hands-on guidance and active involvement of its consumer domain experts. The Highland Consumer Fund has invested in and worked to create such firms as City Sports, DavidsTea, J.McLaughlin , Pharmaca Integrative Pharmacy and Pinkberry. For more information, visit Highland's web site at www.hcp.com.
SOURCE Highland Consumer Fund
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