At a Glance
- Former Dogpound CEO Jenny Liu launches Crush It Ventures with a $5 million early-stage fund.
- The fund targets underrepresented founders in mental health, fitness, beauty, and hospitality.
- Liu’s strategy: lean on her gym network, focus on community-building brands, and deploy $100 000-$250 000 checks.
- Why it matters: Wellness spending is booming, especially among Gen Z, yet diversity in funding remains scarce.
Jenny Liu, once the chief executive of the celebrity-fave gym Dogpound, announced on Thursday the final close of Crush It Ventures‘ first fund. She said the move was driven by two observations: a thriving community of wellness founders around her local gym and the lack of capital access for many, especially women and minorities.
Background
Liu’s experience at Dogpound-where she met founders and celebrities worldwide-shaped her belief that brand building is more than marketing. “It’s about creating a space for shared experiences, joy, and genuine connection,” she explained. Her decade in the gym, which included a stint as CFO before becoming CEO for two years, gave her insight into the challenges new founders face.
Why the Fund Matters
The wellness sector is hard to size because it overlaps with health-sleep, body health, and mental well-being. Yet a McKinsey study last year found the U.S. alone spends $500 billion annually on wellness. Gen Z, which makes up 36 % of the adult U.S. population, accounts for over 41 % of that spend, while those 58 and older-about 35 % of the population-contribute only 28 %.
Liu attributes the trend to a shift in values: younger generations crave purpose-driven brands and real community. “As we automate more with technology in our daily lives, we’re valuing experiences that foster long-term well-being,” she said.
Funding Details
Liu began raising the fund in 2024. Although the environment was described as “cautious,” interest from limited partners (LPs) seeking diverse, mission-driven funds grew. The fund’s final close reached $5 million, and it plans to invest in 20-25 companies, with check sizes ranging from $100 000 to $250 000.
| Metric | Value |
|---|---|
| Fund size | $5 million |
| Check range | $100 000 – $250 000 |
| Target companies | 20-25 |
| Current portfolio | 18 |
| Deployment horizon | 12-18 months |
Liu emphasized that the fund is “about closing the gap in wellness funding for underrepresented founders, building stronger founder networks, and proving that purpose-driven companies can scale.”
Strategic Vision
Liu’s approach relies heavily on her existing network. She declined to name LPs but said she leveraged her connections to break through as a new fund manager. The focus on community aligns with her belief that wellness is more than physical fitness; it includes mental, emotional, and social well-being.
She highlighted the importance of helping founders build brand and community as they scale. “We want to help close the gap in wellness funding for underrepresented founders,” she said, adding that the fund’s mission is to showcase the scalability of community-driven companies.
Early Investments
To date, Crush It has invested in 18 companies, including wearable tech firm Elemind and consumer-packaged goods startup Caliwater. The fund aims to deploy all checks within the next 12-18 months, focusing on companies that can leverage technology to enhance real-world connection.
Event and Timing
The announcement was made during a News Of Philadelphia event in San Francisco on October 13-15, 2026. Liu’s timing coincides with a broader industry push toward inclusive, purpose-driven investment.
Key Takeaways
- Crush It Ventures fills a niche for diverse founders in the booming wellness sector.
- The fund’s $5 million capital will support 20-25 companies with checks up to $250 000.
- Liu’s background in gym culture and banking informs a community-centric investment model.
- Wellness spending is heavily skewed toward Gen Z, underscoring the need for inclusive funding.
- The fund’s first close demonstrates growing LP appetite for mission-driven capital.
In a landscape where wellness is a $500 billion market, Crush It Ventures offers a fresh path for underrepresented founders to bring purpose-driven brands to scale.
