# Frequently Asked Questions — Consumer Equity Partners

Source: https://consumerequitypartners.com/faq/

## What is CEP's investment thesis?

The future of Essential Commerce is being driven by a convergence of technology, consumer behavior, new business models, and sustainability. Each of those forces has reshaped pockets of the industry on its own. Together they are reshaping the whole stack. We back founders building the durable infrastructure that convergence demands, and we bring patient capital and deep operator relationships to that work.

## What are the six investment areas?

Consumer Equity Partners invests across six interlocking layers of the modern retail stack: Shopping Experiences, Merchandising and Store Operations, Supply Chain and Fulfillment, Retail Media and Advertising, Culinary and Foodservice, and Retail Health Tech. Each pillar names a layer of infrastructure that touches the others, which is why we read companies across pillars as well as within them.

## What is Essential Commerce?

Essential Commerce is the convergence of online and offline commerce covering the purchases people make to serve daily needs. It spans retailers and merchants, consumer packaged goods, supply chain and logistics, the technology built for all three, and the payment, data, and customer-engagement services that carry a transaction. Grocery, mass, convenience, chain drug, discount, direct-to-consumer, and fast delivery all sit inside it.

## What does CEP invest in?

We invest in the technology and infrastructure layer that moves Essential Commerce forward — point-of-sale, ad-tech, supply-chain visibility, frontline coordination, decision intelligence. The companies that win this layer set the operating economics for everyone building on top of it. We look for durable platforms rather than single features, and for founders who understand the operating reality their software lands in.

## What stage does CEP invest at?

We invest from early through growth stage, and we size our involvement to what the company actually needs at that point. We are long-horizon investors, so we partner with founders well beyond the initial check and expect to stay useful across several rounds. Founders at any stage are welcome to start a conversation with us.

## How does CEP support founders?

Founders gain a network of operators, partners, and capital sized for the long horizon. Our team has lived inside retail, food, and consumer goods — building, scaling, and selling these businesses — and we put that operating context to work for every company we back. We also weave in a working network of technology, services, and infrastructure partners that compounds across deals and closes gaps quickly.

## What is the Consumer 2050 vision?

Consumer 2050 is our directional thesis about what is unfolding in consumer and retail over a long horizon, rather than a year-anchored prediction. It frames how retail is changing structurally: customer expectations, supply-chain physics, store-operations economics, payments and loyalty mechanics, and data and AI infrastructure. We use it as a reading lens for our six pillars — each pillar names a layer, and Consumer 2050 names where that layer is heading.

## Who is on the team?

Consumer Equity Partners was co-founded by Tom Furphy and Patrick Walsh, who serve as General Partners. The wider team pairs operators and investors with decades of retail, software, and venture experience, alongside a roster of venture partners who bring working category expertise to diligence and to the companies we back.

## How do I get in touch?

Founders, partners, and investors can reach the firm at info@cep.vc, or use the contact form on our website. Tell us what you are building and what you are trying to solve — that gets a conversation started faster than a general introduction.

## Does CEP invest in consumer brands or products?

We invest in the technology and infrastructure that retailers, brands, and operators run on, which is a different layer from the consumer products that ride on top of it. A better fit for us is the pricing engine, the fulfillment platform, or the retail-media stack a brand uses. This focus is deliberate: infrastructure sets the operating economics of the whole category, and it compounds across every company using it.

## What makes CEP different from other consumer and retail venture funds?

Market-making retailers and industry operators sit alongside financial investors in our capital base, which changes what we can offer a founder. It gives portfolio companies a path to structured pilots with established operators on compressed timelines, and it gives our investors a front-row seat to the technology reshaping their industry. We also apply operating experience to diligence, so we evaluate companies the way a buyer would.

## How does CEP evaluate a company?

We read every company against our six pillars and the Consumer 2050 lens, then test it rigorously against operating reality: does this solve a problem an operator will fund, and can the team ship it into a live retail environment? Seasoned industry experts serve as venture partners and contribute to that diligence, which means a founder is assessed by people who have run the function the product serves.

## Why do retailers and industry operators invest in CEP?

Retailers face rising competitive pressure and a widening innovation gap, and they are looking to startups to close it. Investing alongside us gives them early visibility into the technology entering their category, a sandbox for concept testing, and a structured way to run pilots with companies we have already vetted. Retailers as investors unlocks value on both sides of the table.

## How should a founder approach CEP?

Send us a short note at info@cep.vc describing what you are building, which part of the retail stack it touches, and what you have proven so far with real operators. Specifics travel further than polish — an early customer, a live deployment, or a sharp read on why existing tools fall short tells us more than a deck. We read everything that reaches us.

## What is the CEP Industry Innovation Fund?

The CEP Industry Innovation Fund is the vehicle through which Consumer Equity Partners invests. It pairs patient capital with hands-on support for founders building durable infrastructure for Essential Commerce. "CEP" and "Consumer Equity Partners" refer to the firm; the CEP Industry Innovation Fund is how we deploy.