Global beauty company L’Oréal has recently introduced the Bold Female Founder Fund to help empower female founded start ups.
The exciting initiative, which will be created by the L’Oréal group’s venture capital fund known as Bold Business Opportunities for L’Oréal Development will consist of a multitude of different opportunities for women of which will branch out across many various beauty spaces. Such spaces include beauty tech, green science, biotech and more that will all be supported through an initial dedicated amount of €25 million.
“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.”
– Chief Executive Officer of L’Oréal, Nicolas Hieronimus
Commenting further on the beneficial outcomes of an initiative of this magnitude within the beauty space, specifically its impacts on the upliftment of women in business, Bold Chief Strategy Officer of L’Oréal, Gouzelle Ishmatova had the following to say:
“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.”
– Bold Chief Strategy Officer of L’Oréal, Gouzelle Ishmatova