Victory Park Capital Provides Credit Facility to E-Commerce Acquirer and Developer Dragonfly
Mar 24, 2022
CHICAGO and BOSTON – March 24, 2022 – Victory Park Capital (“VPC”), a leading global alternative investment firm, announced today that it has provided a credit facility to Dragonfly, a technology-enabled platform acquiring and scaling standout e-commerce businesses.
The credit facility is part of Dragonfly’s recent $500 million global capital raise that included equity financing from L Catterton. The funding will enable the company to scale and continue to diversify its portfolio of e-commerce brands.
Founded in 2019, Dragonfly acquires, incubates and licenses fast-growing consumer brands that have strong digital shelf space and brand extension capabilities. Dragonfly’s co-founders previously operated Veya, a medical textbook startup that grew into one of Amazon’s top algorithmic sellers.
“We are proud to have the support of VPC as we continue to acquire, launch and scale great brands and build a consumer products platform that reflects the needs of a new generation of customers,” said Philip Butler, CEO and co-founder of Dragonfly. “We share with VPC a common passion for helping e-commerce founders navigate the complexity of marketplaces and grow their brands to their full potentials.”
“Dragonfly’s experienced leadership team has a strong track record of rapidly scaling e-commerce businesses through product development, marketing, supply chain and sales channel optimization,” said Don Richman, Managing Director at Victory Park Capital. “We look forward to partnering with Philip and the rest of the Dragonfly team in their pursuit of helping entrepreneurs develop and deliver exceptional products that improve people’s lives.”
About Victory Park Capital
Victory Park Capital is a global alternative investment firm that provides capital to emerging and established businesses in the U.S. and abroad. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles and Austin. VPC is privately held and a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.
Dragonfly is an acquirer and developer of standout e-commerce businesses. Its acquisition strategy is guided by proprietary technology and its global team’s deep experience building successful e-commerce businesses. For more information about Dragonfly, please visit dragonflycommerce.com.
Victory Park Capital
Jordan Niezelski, Edelman