Entrepreneurial  Equity  Partners,  L.P.  (together  with  its  fund  general  partners  (unless  otherwise 
specified),  “e2p”  or  the  “Firm”),  a  Delaware limited  partnership,  is a  private  equity  firm  based  in 
Chicago. Founded in 2018, e2p makes investments in the consumer/food industry with a particular 
focus on the private label/contract manufacturing, branded products and foodservice segments. In 
addition  to  its  internal  team,  e2p  leverages  its  proprietary,  formalized  network  of  sector  experts, 
business owners/entrepreneurs and executives in the food industry (the “e2p Ecosystem”), as well as 
e2p’s  significant  networks  of  relationships  in  the  consumer/food  industry  to  enhance  the  Firm’s 
capabilities throughout the investment process. 
e2p serves as the investment adviser for, and provides discretionary investment advisory services to, 
private funds and co-investment special purpose vehicles established to invest alongside a fund in a 
single  portfolio  company.  e2p’s  current  funds  include:  the  main  funds,  Entrepreneurial  Equity 
Partners  Fund  I,  L.P.  (“Fund  I”)  and  Entrepreneurial  Equity  Partners  Fund  II,  L.P.  (“Fund  II”); 
Entrepreneurial  Equity  Partners  F&F  I,  L.P.  (the  “Friends  and  Family  Fund”);  and  several  co-
investment special purpose vehicles (the “Co-Investment Funds” and collectively with Fund I, Fund 
II and the Friends and Family Fund, the “Funds” and each a “Fund” unless the context otherwise 
requires). In addition, in certain circumstances, as more fully described in Item 7 below, the Firm also 
permits certain limited partners and third parties to co-invest alongside a Fund directly into a portfolio 
company.  Unlike  the  Co-Investment  Funds  mentioned  above,  such  direct  co-investments  are  not 
considered Funds or clients of e2p. 
Each Fund is affiliated with a general partner with authority to make investment decisions on behalf 
of the Fund (collectively the “General Partners” and each a “General Partner”). The General Partners 
are deemed registered under the Investment Advisers Act of 1940, as amended, and the rules and 
regulations promulgated thereunder (“Advisers Act”), pursuant to e2p’s registration in accordance 
with SEC guidance. The applicable General Partner of each Fund retains investment discretion and 
limited partners in the Funds do not participate in the control or management of the Funds. While 
the General Partners maintain ultimate authority over the respective Funds, e2p has been designated 
the role of investment adviser. For more information about the Funds and General Partners, see e2p’s 
Form ADV Part 1, Schedule D, Section 7.A. and Section 7.B.(1).  
e2p provides investment advisory services as a private equity fund manager to its Funds. The Funds 
invest  through  privately  negotiated  transactions  in  operating  companies,  generally  referred  to  as 
“portfolio  companies”,  in  the  food  and  consumer  industries  primarily  in  North  America.  Each 
portfolio company has its own independent management team responsible for managing its day-to-
day operations, although the senior principals or other personnel and/or third parties appointed by 
e2p will generally serve on the portfolio companies’ respective boards of directors or otherwise act to 
influence control over management of portfolio companies held by the Funds. In addition, in some 
cases,  e2p  will  more  directly  influence  the  day-to-day  management  of  the  portfolio
                                        
                                        
                                              company  by 
recruiting and installing certain individuals in various leadership roles, such as chief executive officer, 
chief operating officer, chief financial officer or in other roles. e2p’s investment advisory services to 
the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of 
investments, managing and monitoring investments and achieving dispositions of such investments. 
Investments  are  made  predominantly  in  nonpublic  companies,  although  investments  in  public 
companies are permitted in limited instances.  
e2p’s investment advice and authority for each Fund is tailored to the investment objectives of that 
Fund; e2p does not tailor its advisory services to the individual needs of limited partners in its Funds. 
The Fund investment objectives are described, as applicable, in the private placement memorandum, 
limited partnership agreement, investment advisory agreements, subscription agreements, side letter 
agreements  and  other  governing  documents  of  the  relevant  Fund  (collectively,  “Governing 
Documents”) and limited partners determine the suitability of an investment in a Fund based on, 
among other things, the Governing Documents. The Firm does not seek or require limited partner 
approval regarding each investment decision.  
Fund  limited  partners  cannot  impose  restrictions  on  investing  in  certain  securities  or  types  of 
securities, other than through side letter agreements. Limited partners in the Funds participate in the 
overall investment program for the applicable Fund and generally cannot be excused from a particular 
investment  except  in  certain  circumstances  pursuant  to  the  terms  of  the  applicable  Governing 
Documents.  In  accordance  with  industry  common  practice,  e2p  has  entered  into  side  letters with 
certain limited partners, including those who make substantial commitments of capital or were early-
stage investors in the Funds, or for other reasons in the sole discretion of e2p, in each case that have 
the effect of establishing rights under, or altering or supplementing, a Fund’s Governing Documents. 
Examples  of  side  letters  entered  into  include  limited  partner  advisory  committee  representation, 
provisions  whereby  limited  partners  have  expressed  an  interest  in  participating  in  co-investment 
opportunities, certain limited expense arrangements, notification provisions, reporting requirements 
and “most favored nations” provisions, among others. These rights, benefits or privileges are not 
always made available to all limited partners nor in some cases are they required to be disclosed to all 
limited partners, consistent with general market practice. Side letters are negotiated at the time of the 
relevant limited partner’s capital commitment, and once invested in a Fund, limited partners generally 
cannot  impose  additional  investment  guidelines  or  restrictions  on  such  Fund.  There  can  be  no 
assurance that the side letter rights granted to one or more limited partners will not in certain cases 
disadvantage other limited partners.  
e2p is owned by founding partners Mark Burgett and Christopher Fraleigh. For more information 
about e2p’s owners and executive officers, see e2p’s Form ADV Part 1, Schedule A and Schedule B.  
As  of  December  31,  2023,  e2p  managed  $1,704,692,535  in  regulatory  assets,  all  managed  on  a 
discretionary basis. e2p does not manage any investments on a non-discretionary basis.