Former Dogpound CEO Jenny Liu Launches $5M Fund to Propel Wellness Startups
Jenny Liu, the former CEO of the exclusive, celebrity-favored gym Dogpound, has unveiled Crush It Ventures, a $5 million early-stage fund dedicated to supporting startups in the wellness sector. This initiative aims to bridge the funding gap for wellness entrepreneurs, particularly women and minorities, who often face challenges in accessing capital.
Liu’s inspiration for Crush It Ventures stemmed from her interactions with wellness founders at her gym, who were passionate about testing new products and fostering community. Recognizing the hurdles these founders faced in securing funding, Liu established the fund to provide essential financial support and mentorship.
The wellness industry, encompassing areas like mental health, fitness, beauty, and hospitality, has seen significant growth in recent years. A McKinsey study highlighted that the U.S. spends over $500 billion annually on wellness, with Gen Z accounting for more than 41% of this expenditure. This trend underscores a shift towards holistic health, emphasizing mental, emotional, and social well-being alongside physical fitness.
Liu began raising the fund in 2024, navigating a cautious investment environment. Despite challenges, there was a growing interest in wellness, especially from limited partners seeking diverse, mission-driven funds. Leveraging her extensive network and experience from her tenure at Dogpound, Liu successfully closed the fund.
Crush It Ventures plans to invest between $100,000 and $250,000 in 20 to 25 companies, focusing on building strong brands and communities. The firm has already invested in 18 companies, including wearable tech company Elemind and consumer packaged goods business Caliwater. Liu aims to deploy all investments within the next 12 to 18 months.
Through Crush It Ventures, Liu seeks to close the funding gap in wellness for underrepresented founders, build stronger founder networks, and demonstrate that purpose and community-driven companies can scale and make a meaningful difference in health and lifestyle.
