L’Oréal has launched a new investment fund to support female-led start-ups.
The fund, called BOLD Female Founders, is part of the beauty brand’s BOLD entire capital fund.
It will focus on investment opportunities worldwide across the wider beauty ecosystem, including brands, beauty tech, biotech and green science.
The company said the move is the latest step in its longstanding commitment to women’s equity and empowerment
“L’Oréal has for many years been committed to women empowerment, through numerous programs and initiatives of the L’Oréal Foundation, such as L’Oréal UNESCO For Women in Science and Women for Climate,” L’Oréal chief executive Nicolas Hieronimus said.
“BOLD Female Founders aims at promoting the venture funding of women entrepreneurship, that remains at an unbelievably low level.
“Today, 30% of the start-ups of our BOLD venture capital fund are led by women.
“With BOLD Female Founders, we want to accelerate our venture capital investment to support female entrepreneurship.”
Source: chargedretail.co.uk| Isabel Cameron