We're pleased to announce a partial exit from Free Soul, delivering a 3.9x return to investors in our 2019 funds. Our later funds keep their shares, and stay invested for what comes next.
We first backed Rohini and Arjun Sofat in 2019 when Free Soul was challenging a broken market. The women's nutrition industry offered two options: diet shakes or diluted men's products. Free Soul saw an opportunity to build something better.
Founded by Rohini Sofat and Arjun Sofat following a family health crisis, Free Soul set out to create nutrition products specifically designed for women, addressing areas such as PCOS, endometriosis, menopause and bone health.
Since our initial investment and three follow-on rounds, Free Soul has built a community of over 2 million women across 50 countries. They've hosted thousands at in-person events, created educational resources the industry avoids, and started conversations about women's health that most brands won't touch.
This marks our 33rd exit event from 21 companies and validates our investment thesis: backing founders who identify genuine market failures and execute relentlessly creates returns whilst solving real problems.
Jason Druker, Chief Commercial Officer at SFC Capital, comments: “Free Soul exemplifies the kind of founder-led, mission-driven business we back and support over multiple rounds. This transaction reflects our disciplined approach to value realisation, where we look to return capital early through secondaries while retaining meaningful upside in the very best performers. Delivering a 3.9x return while remaining on the cap table is exactly how we aim to compound outcomes for our investors over time.”
Free Soul achieved triple-digit growth year-on-year, expanded internationally, and built customer loyalty in a competitive market. They did this by listening to their community and refusing to compromise on their mission.
Our investors retain shares because the work continues. The women's health market is expanding, awareness is growing, and Free Soul is positioned to lead.
We remain committed supporters of Rohini, Arjun, and their vision to reach 7 million women.
Capital at risk. This secondary transaction has delivered returns of 3.9x for certain participating investors in this investment. This reflects the performance of a single portfolio company and should not be taken as indicative of the overall performance of SFC Capital's portfolio. Past performance is not a reliable indicator of future results.