FAB Ventures—led by Odile Roujol, ex-Lancôme CEO and beauty industry veteran—has announced the first closing of its targeted $10 million new BeautyTech and FashionTech Venture Capital fund focused on investing in direct-to-consumer (D2C) early-stage, purpose and data-driven startups across the beauty and fashion industries.
Based in L.A, the fund will invest in U.S. startups. It will hold a final closing at up to $10 million later in 2021. Investors include Beauty and Luxury Retail Corporate Ventures, Family Offices and Business Angels, and the fund is still open to new investors.
Neither an incubator nor an accelerator, the fund positions itself as a long term partner. The founders will benefit from personalized support as well from a vast global network of mentors, advisers, accomplished entrepreneurs, C-suite level executives and venture capitalists.
The chosen startups tackle underserved needs in the following fast-growing categories:
Femtech
Stix
Stix is providing women the products, education and support they need throughout their health journey: starting with pregnancy and ovulation tests. Co-founders Cynthia Plotch and Jamie Norwood created Stix because buying a high-quality pregnancy test should be easy and delightful, no matter the result you’re looking for.
Bloomi
Bloomi is revolutionizing the sexual wellness category as the first online multi-brand marketplace for intimacy. Founder Rebecca Alvarez Story, a WoC health activist and Latinx sexologist, focuses on diversity initiatives that empower other women of color.
Clean Beauty
Dr. Elsa Jungman
A true clean beauty routine by a French female doctor. Naturally derived ingredients, clinically proven and cruelty-free. Founder Elsa Jungman embodies the new wave of clean beauty with radical honesty.
Khairpep
Patented biomimetic hair care endorsed by hairstylists for damaged hair. Hair care products and routines have only made “hair more needy,” a sharp contrast to advances in the modern skin care category. Co-founders Britta Cox and Suveen Sahib, led by their mission of “less is more,” when it comes to hair care.
Empowering Gen-Z
Very Good Light
A beauty and skincare brand, further empowering young people, with an inclusive definition of beauty, for all spectrums. Exploring the redefinition of masculinity, pushing forth conversations around underrepresented communities, launched early 2021, Good Light beauty hopes to celebrate gender, sexuality in a democratized fashion. Founder David Yi, a Korean-American beauty influencer, is the founder and editor of the Very Good Light. He has championed a more inclusive definition of beauty through community and content.
Makeup/Services
Foxeye
Revolutionizing beauty services with automation to give women back their most precious resources: time and peace-of-mind. Founder and CEO Lynn Heublein is a veteran beauty-industry founder, having grown Skin Spirit, her chain of luxury medi-spas, into the leading destination in California. With Philippe Sanchez CEO, they aim to build Foxeye into a global retail brand.
Sustainable Fashion
Thousand Fell
Removing barriers of entry to the circular economy for next generation consumer. The company is a scalable closed loop system for sustainable design and retail. They are leading the transition to end textile waste through material innovation, product tracking and closed loop recycling. Co-founders Chloe Songer and Stuart Ahlum have backgrounds in retail and supply chain.
