The pros and cons of taking on private equity
On this week's Modern Retail Podcast, the co-founder of baby care brand Tubby Todd explains how private equity fueled its shift from DTC to Target shelves.
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CPG Playbook // August 15, 2026 The pros and cons of taking on private equity By Gabriela Barkho Subscribe: Apple Podcasts • Spotify For many founder-led brands, the transition from a scrappy, bootstrapped startup to a major retail player is the ultimate test of sustainable growth.
For some, that means taking on more debt or venture capital; for others, it means bringing on private equity investors to shoulder the costs. This week, senior reporter Gabi Barkho is joined by Andrea Faulkner Williams, co-founder and president of baby care brand Tubby Todd, to discuss her strategic decisions behind that evolution.
After launching in 2014 and spending years building the brand through a DTC community-driven approach, Tubby Todd sold a majority stake to private equity firm NexPhase Capital in 2022. Since then, the co-founders have remained in leadership roles and continue to grow the brand in retail, with a Target launch earlier this year.
This episode of the Modern Retail Podcast pulls back the curtain on why Tubby Todd’s founders chose that specific path, how the infusion of capital has fundamentally altered their operational strategy and how the partnership helped scale from DTC to mass retail.
In this episode, Williams discusses: Her personal relationship with private equity capital and how it shaped Tubby Todd’s growth trajectory. How founders can weigh the pros and cons of working with private equity firms. What the NexPhase Capital investment means for Tubby Todd’s retail strategy in the coming years. Copy link
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This briefing is based on reporting from Modern Retail. Use the original post for full primary-source context.
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