Capstar Ventures backs consumer founders who have personally lived the problems they are solving, focusing on unmet needs among Millennial and Gen Z consumers, and takes a hands-on role in its portfolio companies rather than acting like a bank, including board involvement in ventures in overlooked categories like Eterneva, which turns cremated ashes into diamonds. The firm's first fund closed at $41.3 million and was led by Cavanaugh, who had raised venture funds since 2005, and its early portfolio was notably female-led, with 11 of its first 13 companies run by women.