Grit, wit, and fit. Those are the three “its” that Kind Snacks founder Daniel Lubetzky looks for when he invests in founders.
Lubetzky, who sold Kind Snacks for $5 billion in 2020, is now the founder and chairman of Camino Partners, a $350 million fund he started in January 2023 that focused its first investments on consumer-facing brands. Camino means “journey” in Spanish; the fund’s name pairs with its focus on companies that positively affect consumers’ lives.
In an interview with Entrepreneur, Lubetzky revealed exactly what he is looking for from founders he invests in.
“I look for good human beings [who] have good values, [and] care about one another,” Lubetzky said. “When things are not going to work out the way they were hoping to, you will enjoy supporting them through the thick and thin, because in the life of any entrepreneur, there are going to be ups. There are going to be downs.”
Daniel Lubetzky. Credit: Christopher Willard/ABC via Getty Images
Lubetzky said he looks for three key traits: grit (the ability to persevere despite challenges), wit (the creativity to come up with new solutions), and fit (does the founder align with Lubetzky’s values and is the company a fit for the current marketplace).
“When the downs come, you want to make sure that you’re aligned with people, with your values,” he said.
Still, the market “ideally” shows that it wants the solution the entrepreneur is proposing, Lubetzky added.
For entrepreneurs who are only in the idea phase of their business, Lubetzky has the following advice: Ask yourself what you care about, find that purpose, and stick by it.
“It gives you the fuel to be strong,” Lubetzky said. “When starting 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, which premieres Friday.
He has already made several notable investments as a guest Shark in prior seasons, including a $1 million-dollar investment in hand-woven hammock company Yellow Leaf Hammocks.
Source: entrepreneur.com