Squared Circles

L Catterton is the lead strategic backer of Squared Circles, providing the venture studio with capital and consumer-sector expertise. The backing allows Squared Circles to incubate and scale consumer health brands using L Catterton's global resources and distribution knowledge, though the studio operates independently in its day-to-day brand creation and incubation activities.

Squared Circles does not operate as a traditional investment fund that sources external deals. The studio conceives and launches its own companies internally, applying a proprietary incubation playbook that combines bioscience research, brand strategy, and operational execution. Ideas are developed in-house, and talent is recruited via hiring and a Founder-In-Residence program to lead emerging brands.

The studio concentrates on consumer health, specifically brands that sit at the intersection of science and culture. Target areas include health and longevity products grounded in bioscience. The firm's public positioning emphasizes building for the "Conscious Maximalist" consumer, though it has not disclosed sector exclusions or specific sub-verticals beyond the health and wellness umbrella.

Squared Circles functions as a venture studio, not a traditional venture capital fund. It does not raise discretionary funds for third-party LP commitments or make minority investments in externally founded startups. All capital is deployed into ventures conceived and built within the studio, with a mandate to control company creation from inception through scaling.

Squared Circles engages exclusively at the earliest stage — conception and launch. The studio creates companies from zero, developing the scientific thesis, brand identity, and initial product before recruiting dedicated operating leadership. This model means the firm takes on full pre-seed and seed-stage risk, controlling equity from origin rather than participating in priced rounds alongside other investors.