vmg-partners
(5)
Doug Tallmadge
Doug Tallmadge is the co-founder and CEO of Gradial, a Seattle enterprise-AI company building agentic tools that automate the unglamorous middle of marketing - the approvals, tagging, compliance checks, and publishing that sit between a finished idea and a live campaign. Before Gradial, he spent nearly five years at SpaceX as a software engineering manager, where he helped scale the Starlink network from zero to more than 500,000 customers. A Dartmouth physics graduate who also passed through Lockheed Martin and Bridgewater Associates, he started Gradial in 2023 with three Dartmouth classmates and has since raised roughly $53M across seed, Series A, and a $35M Series B led by VMG Partners.
Rishabh Jain
Rishabh Jain is the co-founder and CEO of FERMÀT, a San Francisco AI-native commerce platform that builds personalized, content-native shopping experiences for direct-to-consumer and enterprise brands. A LiveRamp alum who saw Apple's privacy changes coming before most, he launched FERMÀT in late 2021 to rewire how brands sell when shoppers can no longer be tracked across the web. The company has raised roughly $86M across rounds, capped by a $45M Series B in June 2025, and counts Glossier, GNC, ILIA Beauty, BISSELL and Unilever's Olly among its customers.
Carle Stenmark
Carle Stenmark is a General Partner at VMG Partners in San Francisco, where he leads the firm's technology investing practice (VMG Tech). After spending his first years at VMG investing in branded consumer products, he convinced the firm's LPs to launch a dedicated tech strategy backing the software, marketplaces, and AI-native businesses that power the consumer ecosystem. He has partnered with founders at Afresh, Boulevard, FERMAT, Claim, Nowsta, and Daily Harvest.
Indranil Guha
Indranil 'Indy' Guha is a General Partner at VMG Partners in San Francisco, where he co-leads the VMG Technology fund focused on commerce infrastructure. A veteran investor with over 15 years of experience in enterprise AI and e-commerce enablement, he previously was a Partner at Bain Capital Ventures and Chief Business Officer at Signifyd. His portfolio includes companies like Attentive, Boulevard, Weee!, and historic wins like Wrike (acquired by Citrix for $2.25B) and Moveworks (acquired by ServiceNow for $2.85B). Born in England, raised in Kolkata, India and across four countries, he is known for his deep intellectual curiosity, hands-on founder support, and sharp perspective on AI-driven hyper-personalization in retail.
Michael Mauze
Michael Mauze is the Co-Founder and General Partner of VMG Partners, a San Francisco-based consumer-focused growth equity firm he co-founded in 2005. With a career spanning investment banking at PaineWebber and Lehman Brothers to private equity at TSG Consumer Partners, Mauze has spent decades backing consumer brands before 'consumer' became the hottest word in venture capital. VMG has backed over 60 brands including Spindrift, Drunk Elephant, KIND Snacks, and Daily Harvest, and closed its sixth fund at $1 billion in 2025. Beyond the portfolio, Mauze is known for his jazz philanthropy, a five-year cross-country bicycle odyssey, and a $3 million gift to his alma mater Davidson College.