L’Oréal has launched a fund to invest in start-ups launched by women entrepreneurs. The BOLD Female Founders initiative will be developed by the group’s venture capital fund, BOLD (Business Opportunities for L’Oréal Development) through an initial allocation of €25m.
L’Oréal says that the BOLD Female Founders will focus on investment opportunities worldwide in brands, beauty tech, biotech, and green science.
The move is part of the group’s commitment to promote gender equity, it says.
“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,” comments L’Oréal CEO Nicolas Hieronimus.