August 2, 2023
Episode 35

Liz Gordon, Investor @ LCatterton

In this episode, we meet Liz Gordon, Vice President at L Catterton. 

L Catterton is a the worlds largest consumer investment fund with $35B assets under management.

Liz dives deep into growth investment, as well as the themes and metrics that drive investment evaluation and valuation, and much more. 

Topics covered

  • Metrics for evaluating investments
  • How current economic environments effects investing
  • Growth investing vs Venture investing
  • Omnichannel strategy
  • Cohort analysis for digital brands
  • Good LTV and CAC benchmarks
  • Brand behaviours with new ios changes


  • L Catterton invests in fast growing consumer companies
  • Gross margins differ by category and channel, i..e food & beverage is on average 40%, where as beauty could be 60-80%
  • Strong category, proof points, and working unit economics are entry point metrics that L Catteron looks for
  • Growth investors seek lower risk and lower returns compared to venture investors
  • Businesses with high propensity for repeat purchases are attractive invesments
  • Digital LTV is much easier to measure than CAC; 3-5 LTV:CAC ratios are attractive
  • Cohort analysis is cohort or how specific group of customer look like and how to track them over time on monthly basis.
  • Omnichannel is meeting consumer where they are; brands need to diversify channels to be resilient to changes like iOS14

Please let us know your thoughts about the episode!

Where to findLiz Gordon:



Where to find Kait Stephens: