Ms Morris launched Adore in her garage in 1999. Some 20 years later, she listed it on the ASX and now Ms Morris is taking her entrepreneurial journey to the next step with the launch of Glow Capital Partners.
According to the company’s website, Glow Capital Partners exists “to support the brightest founders to achieve their dreams, backing the best e-commerce and consumer brands in Australia and New Zealand to take on the world”.
It will invest in later-stage growth companies, making $20 million to $50 million investments in purpose-led businesses.
“Purpose-led businesses wish to make a positive impact – whether that be through creating a great workplace culture, a more sustainable product, a contribution to the community, or a better solution to a problem they care about,” Ms Morris said in a statement shared to the company’s website.
“At Glow we feel that purpose-led businesses are the future, and our dream is to make our own positive impact by helping them succeed.”
Another part of Glow is to seek out and support women founders. The firm will also implement gender balance targets from the get-go.
“My experience as a woman founder trying to raise capital was one of walking into rooms full of men in suits. I’d built a successful and fast-growing business but was ignored or dismissed by so many who didn’t understand, or did not want to take the time to understand the beauty market,” Ms Morris said.
“I am convinced that the only way to change that for the women entrepreneurs who come after me, is to be part of building a better alternative.”
Her co-founder, Justin Ryan, noted that while Glow will be his third private equity firm, it will also be the first time he would be building something from the start.
“My desire is to partner with innovative, entrepreneurial, values and purpose-driven people and businesses that help make the world a better place.”
“At this stage of my career it’s not about making the most money, but rather it’s about building something great, and Kate Morris is a key enabler for this.”
