L'oreal invests in a consumer-focused venture capital fund Fireside

BENGALURU: specialty in French personal care The real has invested in Home Ventures, an early-stage venture capital firm which backs consumer brands aimed at the millennial population. This would be the first time The real has made an investment in a homegrown Venture Capital Fund . L'oreal, one of the leading consumer brands in India, confirmed the development to TOI.

This investment was done through L’Oréal’s corporate venture capital fund -BOLD Business Opportunities for L’Oréal Development, launched in December 2018. Prior to this, the fund has invested in other funds like Partech Africa, Founders Factory, Raise Ventures.

For Home , L’oreal is coming as a limited partner (LP) in its second venture capital fund of $100 million (Rs 700-710 crore) in size. TOI first reported in January saying Home was planning to raise $100 million in its second fund.

India is a strategically important market for L'Oréal and a great place for innovation. With this investment, L'Oréal will connect even more to the dynamic ecosystem of the new Indian companies and work with them on the emerging needs of consumers to co-create the beauty trends of tomorrow. said Amit Jain, MD, L'Oréal India.

In its first fund, Home had raised Rs 340 crore (around $50 million) out of which it has already invested Rs 204 crore across 18 companies.

Consumer electronics brands such as Boat and Bombay Shaving Company, Tasty Tales (ready to cook masalas and pasta), Bog Orchid (mosquito killer), Anka Summor (distribution), Azani (sportswear) are some of their existing portfolio companies .