In 1997, Judd Zebersky left his legal practice to found Jazwares — a toy and consumer products company built on a simple idea: make great products, treat people right, and never stop growing.
Over the next 25 years, Jazwares became a multi-billion dollar global leader. Home to some of the most recognizable brands in consumer products — Squishmallows, Pokémon, Fortnite, Peppa Pig. Laura joined in the early years and rose through the organization, from licensing to sales to operations, before being named CEO. Under her leadership, Jazwares expanded into 100+ countries, built deep partnerships with the world's largest retailers, and developed a culture that people genuinely loved being part of.
In 2022, Berkshire Hathaway acquired Jazwares. Warren Buffett called Judd and Laura "ideal Berkshire managers."
After the acquisition, they asked themselves one question: what kind of capital partner would we have wanted when we were building Jazwares?
Not a fund with a ticking clock. Not a board that second-guesses operators. A partner who had actually done the work. Who understood what it takes to build a brand, manage a global supply chain, and hold a company together through rapid growth. Who would stay for the long haul.
They couldn't find one. So they built it.
Most private equity firms are built by financiers. They optimize spreadsheets, not operations. They set exit timelines before they understand the business. They replace founders instead of empowering them.
We saw the gap from the inside — as founders who needed capital and couldn't find a partner who understood what building a company actually requires.
Lezah Capital exists to fill that gap: permanent capital, operational expertise, and the patience to let great businesses compound over time.
Judd Zebersky leaves his legal practice to found Jazwares, building on creativity and partnerships.
Global scaling. Expansion into action figures, plush and collectibles with major licenses including Pokémon and Roblox.
Acquisition of Wicked Cool Toys and Kellytoy — bringing Squishmallows into the portfolio and strengthening manufacturing capabilities.
Laura Zebersky named President. Squishmallows becomes the number one global toy property.
Berkshire Hathaway acquires Jazwares. Warren Buffett calls Judd and Laura "ideal Berkshire managers."
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