The man who arranged 50 Cent’s equity investment in Vitamin Water and Madonna’s deal with Vita Coco, Seth Rodsky and his firm Strand Equity, have bought a stake in Modern Acupuncture and brought actress Cameron Diaz into the deal, too.
It is Strand Equity’s first investment in the franchise space, said Rodsky, who also co-founded lifestyle brand Draper James and production company Hello Sunshine with Reese Witherspoon.
“We reached out to Modern Acupuncture in late 2018 after identifying acupuncture as a healthcare and wellness service which we thought to be a large white space,” Rodsky said in an interview. “I’m a user of acupuncture and a lot of my friends are as well, and we started scratching our head” about the “fact that there wasn’t a distinctive brand and a scale player. When we stumbled across Modern Acupuncture we started talking.”