# Innovation Department

Innovation Department is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 100 Crosby St, Suite 506, New York, NY 10012, United States
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** innovationdept.com
- **LinkedIn:** https://www.linkedin.com/company/innovation-department

## Regulatory record

- **Reports private funds:** No

## About

Innovation Department is a startup studio founded in 2014 in New York, New York. It focuses on building brands through a platform-based approach, including brand development, startup investment, and services such as SaaS solutions, SMS marketing, and wellness products. Its sectors of focus include health & wellness, pet wellness, food & beverage, consumer goods, and internet technologies.

## People

- Alex Song — Co-founder and CEO
- Colin Darretta — Co-founder

## Questions

### What is Innovation Department's investment model?

Innovation Department operates as both a venture studio and an investment firm. It incubates its own consumer brands internally while also making direct seed and early-stage investments in external startups. This hybrid model allows the firm to actively manage operations and strategy for the companies it creates, rather than functioning solely as a passive financial investor.

### Who founded Innovation Department and what is their background?

The firm was co-founded by Alex Song and Colin Darretta. Alex Song previously worked as an investment analyst at Pershing Square Capital Management, the hedge fund led by Bill Ackman. Colin Darretta is a former investment banker at Goldman Sachs. Both founders are members of the Forbes Business Council.

### What types of companies does Innovation Department build or invest in?

Innovation Department focuses on digital-native consumer brands, primarily in e-commerce, wellness, and pet care. Known internal builds include Finn, a pet wellness brand, and WellPath, a nutritional supplements company. The firm targets early-stage through growth-stage opportunities that can scale through direct-to-consumer digital channels.

### Is Innovation Department structured as a venture capital firm or an operating company?

Innovation Department is structured as a hybrid, combining elements of a venture capital firm and an operating company. It differs from a standard VC because it originates, builds, and manages its own brands directly through an internal studio. This operator-first approach means the firm's team is involved in day-to-day brand strategy, not just capital allocation.

### How does Innovation Department handle portfolio exits?

The firm has demonstrated exits through acquisition. In 2021, Boosted Commerce, an acquirer of e-commerce brands, purchased WellPath from Innovation Department. The firm's in-house studio model allows it to nurture brands to a stage where they become attractive acquisition targets for aggregators or larger consumer platforms.

## Related profiles

- [Innovation Catalyst](https://altss.com/profile/innovation-catalyst)
- [Innovation Endeavors](https://altss.com/profile/innovation-endeavors-iii-advisers)

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Last updated: 2026-06-03T20:00:00.000Z

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