Carpe, a Duke-founded Startup, Acquired by Topspin Consumer Partners
DURHAM, N.C. – August 27, 2024 – Duke Capital Partners (DCP) is proud to announce the successful acquisition of Carpe, a disruptive, digitally-native sweat control brand, by private equity firm Topspin Consumer Partners. This transaction marks a significant milestone for Carpe and highlights the strength and impact of the Duke community.
Carpe was founded in 2015 by Kasper Kubica (Duke ’17) and David Spratte (UNC ’17) in their dorm rooms. They met through the Robertson Scholars Leadership Program and discovered they both had hyperhidrosis – excessive sweating – which impacted their daily lives. Determined to find a solution, they embarked on a mission to create an effective antiperspirant hand lotion. Their dedication and innovative approach led to the launch of Carpe, a company with multiple sweat solutions that has helped individuals manage their sweat and regain confidence.
The company has grown exponentially, thanks in no small part to unwavering support from Duke alumni and the broader Duke community.
Duke Capital Partners led every round of Carpe’s fundraising, with DCP members and Duke alumni Joseph Saldutti, Jay Mebane, Ben Feldman, and Chris Ng Cashin serving on Carpe’s Board. Additionally, Duke Alumni Association President Vikas Patel provided invaluable advisory support and DCP member and investment banker Tom Mazzucco guided Carpe throughout its acquisition. Collectively, the individuals who constitute Carpe’s board, board observers, and advisors have earned 11 degrees from Duke. Kubica, a Melissa & Doug Entrepreneur, and Spratte received early support from Duke’s Innovation & Entrepreneurship Initiative, which played an important role in the company’s earliest days. The collective efforts of these individuals have been instrumental in Carpe’s success.
“This past decade has been the most incredible journey I could imagine, and none of it would be possible without Duke,” Kubica said. “The brilliant, supportive members of the Duke community are the reason Carpe has grown to this massive milestone. We are incredibly excited to partner with Topspin and leverage their retail expertise to bring Carpe to every sweaty person in the United States.”
Carpe truly is a Duke success story: founded in the Duke dorms, funded by Duke alumni, supported by Duke board members, and ultimately acquired with the support of a Duke investment banker. True to its roots, Carpe continues to be based in downtown Durham, creating local jobs and an enduring impact on the local economy. Carpe’s journey is a testament to the power of the global Duke community.
About Duke Capital Partners
Duke Capital Partners is the early-stage venture investment arm of Duke University. Duke Capital Partners leverages the power of the global Duke community to invest in and support entrepreneurs, to educate and empower students, and to engage and activate its members’ contributions to the University’s innovation ecosystem. Learn more at: dukecapitalpartners.duke.edu.
About Carpe
Founded in 2015, Carpe provides a system of effective sweat management products to help tackle sweating at the source. Carpe’s dermatologist-tested full-body product suite spans hand lotion, underarm antiperspirant, sweat-proof cosmetics and hair care products, and more. Developed with the help of a panel of medical advisors, Carpe is the #1 dermatologist recommended antiperspirant brand for whole-body sweat protection. Visit https://mycarpe.com/ for more information.
About Topspin Consumer Partners
Topspin Consumer Partners is a Mamaroneck, NY-based private equity firm that makes investments in established, profitable, and fast-growing middle-market consumer businesses. The firm invests across a number of sub-verticals within consumer, including health & wellness, personal care, beauty, food & beverage, household goods, pet, and children’s products. The Topspin team has considerable operational expertise and collaborates with founder-owners and management teams to build businesses of varying stages and sizes. For more information, please visit www.topspincp.com.
Contact
Kurt Schmidt
Managing Director, Duke Capital Partners
kurt.schmidt@duke.edu