E2p ecosystem
E2P (Entrepreneurial Equity Partners) is a Chicago-based private equity firm making control investments in food and consumer packaged goods companies, managing $1.7 billion across two funds and deploying its proprietary North Star Smart Investing Program across 12 portfolio companies and ~3,600 employees.
- Company typePrivate
- Founded2018
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What E2p ecosystem does
E2P (Entrepreneurial Equity Partners, L.P.) is a Chicago-based private equity firm that makes control-oriented investments in the food and consumer packaged goods industries. Founded in 2018 with roots in the team's prior 20-plus-year investment track record at Wind Point Partners, e2p targets companies with at least $5 million of EBITDA and $50 million of revenue, deploying equity checks in the $25–$150 million range. The firm manages two closed-end funds — Fund I at $423 million (closed May 2021) and Fund II at $546 million (closed May 2024) — for a total of $1.7 billion in assets under management, with capital commitments from pension funds, endowments, foundations, and family offices.
The firm's central operating asset is the North Star Smart Investing Program (North Star Smart Investing™), a trademarked proprietary methodology that guides investment evaluation and is embedded into each portfolio company's Business Transformation Plan with tailored North Star SIP priorities. E2P's active portfolio spans frozen bakery (Sara Lee Frozen Bakery, acquired with Kohlberg & Company from Tyson Foods in 2018), frozen breakfast and lunch (MBC Companies), frozen garlic breads (Furlani Foods, realized to Arbor Investments in 2026), contract manufacturing (Roskam Foods, Ya YA Foods, Thrive Freeze Dry), aseptic and canned beverages (Ya YA Foods), Mediterranean proteins and bakery (World Food Holdings), specialty ice cream (Leiby's Dairy), pet nutrition (Bil-Jac Foods), and industrial cargo securement (Gardian Holdings, formed with Somera Private Equity in 2024). The portfolio collectively employs approximately 3,600 people across North America and, increasingly, Europe.
E2P's revenue model is classic private equity: management fees on committed/invested capital plus carried interest on realizations. Go-to-market is sales-led and community-driven: a small team of ~20 employees pursues family-owned food businesses, founder-led brands, and corporate carve-outs, supplemented by the branded "e2p Ecosystem" network of family business owners, sector specialists, and executives that functions as a sourcing channel. Realized investments to date include Salm Partners (sold to Johnsonville in 2024), Furlani Foods (sold to Arbor Investments in 2026), and the Charcuterie Artisans platform (Daniele International/Creminelli Fine Meats).
E2p ecosystem firmographics
Firmographics- Name
- E2p ecosystem
- Legal name
- Entrepreneurial Equity Partners, L.P.
- Website
- https://e2p.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- E2P (Entrepreneurial Equity Partners) is a Chicago-based private equity firm making control investments in food and consumer packaged goods companies, managing $1.7 billion across two funds and deploying its proprietary North Star Smart Investing Program across 12 portfolio companies and ~3,600 employees.
- Ownership category
- akta.pro rank
E2p ecosystem industry classification
Industry- Product category
- Food Sector Private Equity
- NAICS
- Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Agriculture & Food / AgTech Growth Equity (FSANACAM)
- akta.pro secondary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
Keywords
Where E2p ecosystem is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
E2p ecosystem business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Private Equity Fund Management: e2p generates revenue through management fees and carried interest from its private equity funds. Fund II closed with $546 million in aggregate capital commitments, and the firm currently has $1.7 billion of assets under management.
- Portfolio Company Investment Returns: Returns from successful exits of portfolio companies through acquisitions or sales to strategic buyers, such as the sale of Salm Partners to Johnsonville and Furlani Foods to Arbor Investments.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
E2p ecosystem product offering
Product offeringCore offering
E2p (Entrepreneurial Equity Partners) is a Chicago-based private equity firm that makes control-oriented investments in food and consumer packaged goods companies with at least $50 million of revenue and $5 million of EBITDA, deploying its proprietary North Star Smart Investing Program to drive business transformation in each portfolio company. The firm operates two private equity funds (Fund I at $423M and Fund II at $546M, totaling $1.7 billion AUM) and maintains an active portfolio of approximately 12 platform investments in private label, contract manufacturing, foodservice, food and beverage brands, and consumer packaged goods. The e2p Ecosystem is the firm's curated network of family business owners, entrepreneurs, sector specialists, executives, and investment professionals that functions as a deal-sourcing and insights channel for the food industry.
Product overview
E2p (Entrepreneurial Equity Partners) is a Chicago-based private equity firm operating as an investment management platform rather than a technology product company. The firm manages two private equity funds (Fund I at $423M and Fund II at $546M) focused on control-oriented investments in food and consumer packaged goods companies with $50M+ revenue. The platform centers on the proprietary North Star Smart Investing Program methodology, guiding investment selection and business transformation planning for portfolio companies. E2p's portfolio spans multiple food categories including frozen bakery (Sara Lee Frozen Bakery), frozen breakfast/lunch (MBC Companies), contract manufacturing (Roskam Foods), aseptic beverages (Ya YA Foods), freeze-dried products (Thrive Freeze Dry), Mediterranean foods (World Food Holdings), pet nutrition (Bil-Jac Foods), ice cream (Leiby's Dairy), and cargo security (Gardian Holdings). The platform also includes the e2p Ecosystem network connecting industry professionals. Realized investments include Furlani Foods, Salm Partners, and Charcuterie Artisans.
Differentiator
Problem solved
Functional benefit
Brands
- North Star Smart Investing Program: e2p's proprietary intellectual property that guides the investment process and extends into each deal evaluation and investment as an integral component of business transformation plans.
- e2p Ecosystem
- North Star SIP
Products and services
- E2p Investment Management Platform Private equity investment management platform that deploys capital from closed-end PE funds (Fund I at $423M closed May 2021; Fund II at $546M closed May 2024) into control-oriented investments in food and CPG companies with $50M+ revenue and $5M+ EBITDA. Manages $1.7B AUM and oversees approximately 12 active portfolio companies.
- e2p Ecosystem Collaborative network platform connecting family business owners, entrepreneurs, sector specialists, executives, and investment professionals across the consumer and food industry. Functions as a deal-sourcing channel for e2p's PE investments and provides portfolio companies with real-time market insights, strategic guidance, and connection opportunities.
- North Star Smart Investing Program Proprietary intellectual property program (North Star Smart Investing™) that provides a customizable methodology for ESG integration and value creation across portfolio companies. After investment, each portfolio company is assigned a North Star SIP with specific priorities to mitigate risk, achieve cost efficiencies, and accelerate growth.
Quantifiable outcome
- Portfolio companies employ approximately 3,600 people
- +2 more outcomes
Companies that use E2p ecosystem
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles3 records
E2p ecosystem technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
E2p ecosystem partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Chef Rick BaylessminorMichelin-starred Chef Rick Bayless participated in e2p's ecosystem event 'A Taste of Innovation at PLMA', providing live cooking demonstration using ingredients from e2p portfolio companies and engaging with food entrepreneurs.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
E2p ecosystem competitors and assessment
Company assessmentDirect peers
- Paine Schwartz Partners: Food and agribusiness-focused PE firm investing across the supply chain. Comparable sector specialization and Mary Kennerly joined e2p from Paine Schwartz, indicating deep talent and strategy overlap in food-sector PE.
- Kainos Capital: Dallas-based PE firm focused exclusively on the food and consumer products sector. Highly comparable sector specialization, similar fund size, and Christina Wang joined e2p from Kainos, evidencing talent and strategy overlap.
- Encore Consumer Capital: San Francisco-based PE firm focused on consumer products and food brands. Comparable middle-market food sector thesis and direct deal overlap — e2p acquired MBC Companies from Encore in 2023 and Blake Miller joined e2p from Encore.
- Arbor Investments: Chicago-based PE firm specializing in food, beverage, and consumer products — directly comparable sector focus and Fund II-era deal profile. Acquired e2p's Furlani Foods in 2026, evidencing shared deal ecosystem.
- Wind Point Partners: Chicago-based middle-market PE firm specializing in consumer products and food/CPG investments — the most direct peer given overlapping sector focus, similar fund size, and the fact that several e2p principals (including LeAnn Kilarski and Ryan Schweet) came directly from Wind Point.
- AGR Partners: Fresno-based PE firm focused on food and agriculture. Comparable sector thesis and middle-market deal range; Mary Kennerly previously held an IR role at AGR Partners.
Emerging players
- Somera Private Equity: Middle-market PE firm that partnered with e2p to form Gardian Holdings in 2024. Operates in adjacent industrial/services niches and represents the broader emerging manager cohort with which e2p increasingly co-invests.
Broad incumbents
- Kohlberg & Company: Middle-market PE firm with food/consumer products exposure. Co-invested with e2p in the Sara Lee Frozen Bakery acquisition in 2018 — comparable sector overlap and partnership history though broader portfolio.
- TPG (TPG Capital): Mega-cap alternative asset manager with a dedicated consumer/CPG and food sleeve (e.g., prior ownership of brands like J.Crew, Cirque du Soleil). Represents the larger incumbent that competes for higher-end food/CPG opportunities and employs some e2p alumni network.
- Mubadala Capital Private Equity: Sovereign-backed PE investor that co-invested alongside e2p in the Mercer Foods/Thrive Freeze Dry combination. A larger, broadly diversified PE platform with a food/ag sleeve that overlaps with e2p's food sector focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
E2p ecosystem social profiles
Digital presenceE2p ecosystem financial estimates
Financial estimateRevenue estimate
Valuation estimate
E2p ecosystem leadership team
Management profileNumber of profiles
Profiles11 records
E2p ecosystem subsidiaries and ownership
Company hierarchySubsidiaries10 records
E2p ecosystem funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
E2p ecosystem M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about E2p ecosystem
What does E2p ecosystem do?
E2p (Entrepreneurial Equity Partners) is a Chicago-based private equity firm that makes control-oriented investments in food and consumer packaged goods companies with at least $50 million of revenue and $5 million of EBITDA, deploying its proprietary North Star Smart Investing Program to drive business transformation in each portfolio company. The firm operates two private equity funds (Fund I at $423M and Fund II at $546M, totaling $1.7 billion AUM) and maintains an active portfolio of approximately 12 platform investments in private label, contract manufacturing, foodservice, food and beverage brands, and consumer packaged goods. The e2p Ecosystem is the firm's curated network of family business owners, entrepreneurs, sector specialists, executives, and investment professionals that functions as a deal-sourcing and insights channel for the food industry.
Is E2p ecosystem a public or private company?
E2p ecosystem is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was E2p ecosystem founded?
E2p ecosystem was founded in 2018. It employs 11 to 50 people.
Where is E2p ecosystem based?
E2p ecosystem is headquartered in Chicago, United States, in the North America region.
How does E2p ecosystem make money?
Two revenue lines are on record. Private Equity Fund Management is the primary driver. The others are portfolio Company Investment Returns.
Who are E2p ecosystem's main competitors?
Direct peers on record are Paine Schwartz Partners, Kainos Capital, Encore Consumer Capital, Arbor Investments, Wind Point Partners and AGR Partners. Somera Private Equity is listed as an emerging player. Broad incumbents are Kohlberg & Company, TPG (TPG Capital) and Mubadala Capital Private Equity.
Does E2p ecosystem have an API?
No public API is recorded for E2p ecosystem.
What industry is E2p ecosystem in?
E2p ecosystem's product category is Food Sector Private Equity. Its primary akta.pro industry code is FSANACAM, Agriculture & Food / AgTech Growth Equity, with a secondary code of FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure). Its NAICS code is 5239 and its SIC code is 6282.