Swisher Creates Matchbook Capital
Swisher has announced a major initiative to fund innovative, experiential and emerging brands through the launch of Matchbook Capital.
Matchbook Capital will be led by Zack Crafton, who also serves as vice president of Swisher’s Innovation Platform. Crafton has built companies in industries such as cannabis, wine and beer as well as held board and advisory roles in the for-profit and not-for-profit spaces. Building on a successful career scaling companies, including leading NakedWines to success as the largest online winery in the world and holding the first permit for a cannabis delivery service in California, Crafton brings a balance of analytical, M&A and value-creation experience to bear at Matchbook Capital’s helm.
“Swisher has grown into the collection of iconic brands it is today by fueling an endless quest to uncover fresh ideas, innovative technologies, quality products and the people behind them,” said Crafton in a statement. ”Matchbook Capital will continue that tradition by making significant investments of capital and resources into new categories to build a robust portfolio of products for adult consumers.”
Joining Crafton at Matchbook Capital is a team of former entrepreneurs who bring a new and refreshing approach as they expand Swisher beyond tobacco through corporate venture. In addition to having the ability to scale brands through Swisher’s extensive retailer footprint, the team brings a level of empathy to the corporate venture process rooted in its members’ experience on “the other side” of the table, according to Swisher.
“We have more than 250,000 distribution points and invest with cash,” Crafton added. “As a former entrepreneur, I know how exciting this value proposition is for new brands seeking rapid growth. We are uniquely positioned to be a strategic partner for founders who are in it for the long run. We want to help them build their legacies and launch their brands to iconic status.”
Matchbook Capital invests in or acquires companies that are in the test, build or scaling stages of growth and looks for leaders who have a passion for success.
“Given the climate of disruption from which the country is emerging, now is the time to find and fund the next big idea,” added Crafton. “During Covid, consumers were forced to change almost every part of their daily lives … from shopping and finding entertainment to communicating and learning. This represents a massive disruption and period of transformation that will bring about a ‘new normal’ for retailers and consumers alike. We can support this movement by assisting innovators with capital, strategic guidance and access to Swisher’s dominant distribution network.”
Matchbook Capital is most interested in emerging industries (such as cannabinoids) experimental categories and innovative consumer packaged goods.
For more information, visit the Matchbook Capital website.