Aaron Enrico
Founder & Principal · Black Bear Partners
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- Title
- Founder & Principal
- Role
- Angel Investor / Growth Capital Investor
- Firm
- Black Bear Partners
- Firm Type
- Growth Capital / Angel Investment Firm
- Investment Stage
- Seed Round
- Industry Focus
- Consumer-facing businesses -- restaurant, retail, consumer packaged goods (CPG), media, manufacturing, finance
- Location
- Dallas, Texas, United States
- Firm Founded
- 2012
Background
Aaron Enrico is the Founder and Principal of Black Bear Partners, a growth capital investment firm based in Dallas, Texas, that he established in 2012. The firm specializes in directing investment opportunities toward consumer-facing companies within the retail, restaurant, and consumer packaged goods (CPG) industries, targeting businesses that have demonstrated consumer relevancy and strong profitability characteristics but operate at a revenue level below the radar of traditional private equity. Aaron brings a broad and expansive career spanning principal investing, marketing and strategy consulting, and general management.
Prior to founding Black Bear Partners, Aaron served as Chief Financial & Development Officer at Genesco Sports Enterprises, Inc., a Dallas-based sports marketing and consulting firm with offices in Charlotte, Chicago, and New York. Before that, he was a Principal with CIC Advantage Holdings LLC (CIC Partners LP), where he focused on investments in restaurant, retail, consumer packaged goods, and media sectors. His earlier career includes a foundation at McKinsey & Company, followed by marketing and management roles at International Management Group (IMG), the global sports marketing conglomerate, and the U.S. Olympic Committee.
Aaron holds a BA in History and Comparative Area Studies from Duke University and an MBA from UCLA Anderson School of Management. He is actively involved in the Dallas community and serves in advisory and board capacities with organizations including the Ronald McDonald House of Dallas, the Duke University Annual Fund Executive Committee, and the AFI Dallas International Film Festival. He currently serves as Director of Seven Mile Suites Ltd. (Comfort Suites Grand Cayman). Aaron lives in Dallas with his wife Catie and their three children.
Investment Thesis & Focus
Aaron Enrico and Black Bear Partners focus on growth capital investments in consumer-oriented businesses. The firm's thesis centers on identifying companies that have proven consumer relevancy and strong profitability characteristics but are at a revenue level that falls below the radar of traditional private equity firms. Key areas of focus include:
The firm leverages its extensive networks to source deals in these sectors, with Aaron bringing particular domain expertise from his career at CIC Partners, McKinsey, and in the sports marketing industry. Investment stages include seed rounds and growth capital, with an emphasis on hands-on board involvement and operational support for portfolio companies.
- Restaurant & Food: Restaurant concepts, food brands, and consumer packaged goods
- Retail & Consumer: Consumer-facing retail businesses with demonstrated traction
- Media: Consumer media properties
- Manufacturing: Consumer-oriented manufacturing businesses
Notable Investments & Board Positions
- Ecologic Brands -- Board Member; sustainable packaging company (Black Bear Partners portfolio company)
- Force of Nature Enterprises -- Board Member; regenerative agriculture meat company
- Hail Merry -- Board Member; plant-based snack brand
- Wolf Essentials -- Black Bear Partners investment (consumer durables)
- SignStorey (CBS Outernet) -- Former Board Member; digital out-of-home advertising (co-invested with CIC Partners and Golden Gate Capital)
- Red Mango -- Former Board Member; frozen yogurt and smoothie franchise
- giggle -- Former Board Member; baby and toddler retail
- MosquitoNix -- Former Board Member; pest control services
- Seven Mile Suites Ltd. (Comfort Suites Grand Cayman) -- Director
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