L’Oréal creates BOLD FEMALE FOUNDERS to invest in start-ups launched by women entrepreneurs
The L’Oréal group, the world’s leading beauty player, announces today the launch of the L’Oréal BOLD FEMALE FOUNDERS initiative designed to support female-led startups. It will be developed by its venture capital fund, BOLD Business Opportunities for L’Oréal Development, through a dedicated initial allocation of 25 million euros.
BOLD Female Founders will focus on investment opportunities worldwide across the wider beauty ecosystem, including brands, beauty tech, biotech, and green science. This venture and entrepreneurship funding is aligned with the Group’s strategic commitment to promote gender equity.
“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. BOLD Female Founders aims at promoting the venture funding of women entrepreneurship, that remains at an unbelievably low level. By addressing the inequalities that passionate women founders face in their entrepreneurial journey, we bring our sense of purpose to life: Create the beauty that moves the world”, says Nicolas HIERONIMUS, Chief Executive Officer of L’Oréal. “Today, 30% of the startups 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”.
Gouzelle ISHMATOVA, BOLD Chief Strategy Officer, added, “A more inclusive venture capital industry means more opportunities for underrepresented female entrepreneurs. As a matter of fact, startups led by women attract less funding, yet they consistently outperform. With BOLD Female Founders, we want to be a game changer by investing in the creativity and talent of the next generation of female entrepreneurs”.
The L’Oréal group acts to champion the cause of women especially within its ecosystem. This strategic investment by BOLD is the latest step in our longstanding commitment to women’s equity and empowerment.
For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
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