"For one, she was surrounded by wellness founders at her local gym who loved testing new products and building community. Second, Liu also realized that many of these founders, especially women and minorities, were struggling to fund their ideas due to limited access to founder networks. To bridge this gap, she launched Crush It Ventures, a wellness-focused early-stage fund. The firm hopes to back companies building across the wellness sector, including in mental health, fitness and sport, beauty, and hospitality."
"Young people in particular have become big spenders as they continue to openly talk about mental health and burnout. The McKinsey report said that though Gen Z makes up 36% of the adult U.S. population, they are responsible for over 41% of wellness spending. This is compared to those 58 and older, who make up around 35% of the U.S. population, yet account for 28% of wellness spending."
Jenny Liu launched Crush It Ventures to back early-stage wellness companies after observing founders testing products and building community at her gym and noticing funding barriers for women and minority founders. The firm completed a $5 million Fund I and plans to invest across mental health, fitness and sport, beauty, and hospitality. The wellness industry overlaps with health and is hard to size, yet trends have boomed with gyms and run clubs growing especially among Gen Z. McKinsey found U.S. wellness spending exceeds $500 billion annually, with Gen Z responsible for over 41% of that spending. Younger consumers favor purpose-driven brands, experiences, and community-driven well-being.
Read at TechCrunch
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