Cutting Horse Closes Oversubscribed $75 Million Fund I to Partner with Founder-Led Consumer Brands

NEW YORK & BOSTON — Cutting Horse, a growth equity firm led by experienced operators who have built and scaled billion-dollar consumer brands, today announced the closing of its inaugural fund with $75 million in capital commitments, exceeding its original $50 million target and closing at its hard cap. The oversubscribed fund was raised in less than 12 months and will support the firm's strategy of partnering with founders building durable, high-growth consumer product and service businesses.

"Our mission is simple: we provide growth capital and operational support to founders building enduring consumer brands," said Chris Protasewich, Co-Founder and Managing Partner of Cutting Horse. "We look to partner with founders who want more than capital. They want experienced operators who understand how to scale thoughtfully and build businesses that last."

Founded by long-time partners Protasewich and Michael Wystrach, Cutting Horse is built on more than a decade of collaboration in the consumer ecosystem. Wystrach founded Freshly, the direct-to-consumer meal platform acquired by Nestlé for $1.5 billion, while Protasewich invested in the business during his tenure at Highland Capital Partners. The pair has helped create over $5 billion in enterprise value over the years and have raised more than $300 million for companies they founded. One such company, Petfolk, is among the fastest-growing de novo veterinary platforms in the U.S. with 36 locations across seven states.

Together, Protasewich and Wystrach have supported dozens of consumer founders as investors, board members, and advisors across food and beverage, health and wellness, pet, and consumer services. The firm's name is inspired by the cutting horse, an animal defined by precision, focus, and quiet strength, qualities that reflect Cutting Horse's disciplined, partnership-driven approach.

"We've been in the founder seat and understand the weight of the decisions leaders face at key inflection points," said Wystrach. "Our role is to bring capital, clarity, and real operating experience to help founders scale in a way that builds long-term enterprise value."

Cutting Horse has already completed four investments and assembled an exceptional team, including Vice President Henry West, who previously worked with Protasewich and Wystrach at Freshly and Petfolk. The firm runs a concentrated portfolio, partnering with a select group of founders each year where hands-on support can drive meaningful impact.

"Promix Nutrition was built on a simple belief: if you obsess over ingredient quality and never compromise, customers notice and they stay. The Cutting Horse team shared that belief. They brought real operating experience at exactly the right moment, helping us sharpen the business in ways that set us up for the next chapter," said Albert Matheny, founder and CEO of Promix Nutrition, which was acquired in 2024.

"Many investors write a check. Cutting Horse is different. They have been in the weeds with us from day one, helping recruit key hires, making introductions to the right vendors, and leveraging their network in ways that have accelerated our success. Their perspective, as operators who have scaled billion dollar businesses, elevates the quality of advice, deepens the level of trust, and broadens the lens through which key decisions are made. That kind of partnership matters when you're trying to create the most trusted platform for residential property management," said James Sullivan, founder and CEO of Cassi.

Cutting Horse's portfolio reflects its broader thesis: that partnering early with the right founders at the right moment is the most compelling opportunity in consumer investing. For its Fund I, the firm received strong backing from a mix of institutional investors, family offices, and experienced operators who share the belief that consumer brands built with disciplined growth, strong unit economics, and authentic customer connection can generate lasting value.

The firm sees continued opportunity in the evolution of consumer markets, where emerging brands are capturing share by delivering better products, stronger brand identities, and deeper customer relationships. Consumer businesses also stand to benefit meaningfully from advances in AI, strengthening execution and capital efficiency without diminishing the importance of differentiated products and services. As the firm deploys the fund, it will seek founders building distinctive consumer businesses at critical growth inflection points.

About Cutting Horse

Cutting Horse is a consumer-focused growth equity firm making $1-10 million minority investments in consumer product & service companies generating $1-20 million in revenue. With offices in New York and Boston, the firm partners with founders to provide capital, strategic guidance, and hands-on operational support rooted in real founder experience. Current and past partnerships include BetterWild, Cassi, Feel Goods, SuperTeeth, Promix Nutrition, Petfolk, Freshly, Soar Health, Beam, Ghia and Butternut Box.