Episode 292 of Where Brains Meet Beauty with Jodi Katz brought a fresh perspective to the mic: two voices from the world of private equity and growth investing. Sarah Foley, Managing Partner at InviNext Growth Partners, and Caroline Chiaroni, Vice President at TJC (formerly The Jordan Company), joined Jodi for a conversation that wove childhood dreams, career paths, and the evolving balance between technology and human connection in finance.

As children, their ambitions were far from Wall Street. Foley dreamed of becoming a veterinarian, so vividly that she sketched out the design of her future practice, complete with stonework, barn doors, and a shiplap exterior. The love of animals never left her, and it’s no surprise that one of her firm’s portfolio companies today is Pet Plate, a direct-to-consumer subscription service for human-grade pet food. Chiaroni’s early aspirations leaned toward creativity: writing fiction, choreographing plays, and perhaps curating art in a gallery inspired by her mother’s art history career. While she ultimately pursued finance, she still finds inspiration in art and creativity, which now informs her work in R&D driven beauty investments.

Both women began their finance careers in investment banking – Foley at Morgan Stanley, Chiaroni at Barclays – where they cut their teeth in the transactional world of M&A. Each soon realized that while banking offered exposure to companies at pivotal moments, the real intrigue lay in seeing what happened after the deal closed. That realization pulled them into private equity, where they could partner with management teams and participate in the full arc of growth. Foley describes herself as a “voyeur of business models,” energized by decoding how companies tick, while Chiaroni enjoys the long-term strategy of supporting innovation and scaling.

Their day-to-day realities overlap in rhythm but diverge in focus. Foley’s world revolves around breakout consumer brands in beauty, wellness, and pets, with her firm investing at earlier stages where relationships, vision, and differentiation matter most. She splits her time between firm management, fundraising, pipeline development, and deep portfolio support – often with 15 active companies at varying stages of growth. Chiaroni, by contrast, operates later in the cycle, working on due diligence for new deals and supporting portfolio companies with a strong R&D foundation. Her role is part detective work, part strategy, part partnership, balancing data and people in equal measure.

The conversation also delved into the buzzword of the moment: AI. Both agreed that while technology will streamline processes – supply chain forecasting, inventory management, and even R&D suggestions, the human element remains irreplaceable. Foley believes consumers build emotional connections with brands through people, not algorithms, while Chiaroni emphasized that understanding customer needs and innovating through dialogue can’t be automated. Technology may amplify efficiency, but the spark still comes from human imagination.

When it comes to influence, both investors stressed the importance of partnership over control. Chiaroni compared her role to advising a young adult, providing perspective without dictating decisions. Foley, whose firm often owns minority stakes in earlier-stage companies, framed her influence as relationship-driven: building trust so founders want to call her when challenges hit. The difference in stage matters, Chiaroni’s later-stage investments carry more governance, while Foley’s earlier bets require more nurturing.

Despite the grind of fundraising and the intensity of due diligence, both women lit up when describing what excites them most. For Foley, nothing compares to spotting portfolio brands on shelves and hearing friends or family recognize them by name. For Chiaroni, the satisfaction comes in two parts: seeing portfolio companies execute growth strategies successfully, and mentoring associates and peers on her own team, paying forward the guidance she once received.

The episode ended on a playful note: a game of “museum tour, this or that,” where both women revealed their ongoing love for art. Whether choosing Warhol at MoMA, sculpture at the Guggenheim, or interiors at the Cooper Hewitt, the exercise tied back to their childhood dreams—reminding us that even in the high-stakes world of finance, creativity and curiosity remain central.

Thank you to our sponsor Beauty Connect. Get 10% off tickets with code WBMB.