Former CEO of celeb fav gym Dogpound launches $5M fund to back wellness companies

Jenny Liu, who previously led the celebrity-favorite gym Dogpound, has embarked on an exciting new venture. Motivated by her experiences in the wellness space, she has founded Crush It Ventures, a fund dedicated to supporting early-stage companies within the wellness industry. Liu's inspiration stemmed from her interactions with wellness entrepreneurs at her local gym, where she recognized their passion for innovation and community-building. She also noted a significant challenge: many founders, particularly women and minorities, faced obstacles in securing funding due to limited access to vital networks. To address this disparity, Liu established her fund, which focuses on sectors such as mental health, fitness, beauty, and hospitality. Recently, Crush It Ventures announced the successful closing of its inaugural $5 million fund. The wellness industry has seen tremendous growth, with trends gaining traction among younger demographics. A recent McKinsey study highlighted that the U.S. spends over $500 billion annually on wellness, with Gen Z alone accounting for more than 41% of that expenditure, despite representing only 36% of the adult population. Liu attributes this surge in wellness interest to a broader understanding of health that goes beyond physical fitness, encompassing mental, emotional, and social well-being. "As technology becomes more integrated into our lives, people are increasingly valuing experiences and products that promote genuine connection and long-term wellness," she explained. "Younger generations are particularly drawn to brands that are purpose-driven and foster real community engagement." Although Liu began raising the fund in 2024 amidst a cautious investment climate, she reported a growing interest from investors in diverse, mission-driven funds. She successfully leveraged her extensive network to navigate the challenging landscape for new fund managers, particularly women. With a decade of experience at Dogpound, including two years as CEO, Liu learned that successful brand building requires more than just marketing; it demands creating spaces for shared experiences and authentic connections. Her fund plans to invest between $100,000 and $250,000 in 20 to 25 companies, and so far, it has backed 18, including wearable tech firm Elemind and CPG brand Caliwater. Liu aims to deploy the remaining funds within the next 12 to 18 months, with a clear mission: to bridge the funding gap for underrepresented founders and demonstrate that community-driven companies can thrive in the wellness sector.