Serena & Lily recapitalization offered existing investors over a 3x return
Lily Kanter · Serena & Lily: Serena Dugan and Lily Kanter. They Built a $20M Brand—Then One Investor Almost Destroyed It · Aug 3, 2026 · at 1:07:41
Lily Kanter, co-founder of Serena & Lily, explains the terms offered to existing cap table investors when a family office stepped in to recapitalize the company.
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“Many of them were making, at that point, over a three X, and they could sell their shares, or they could convert to common, and they can ride along in the car with us.”
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