MIAMI and NEW YORK, July 30, 2021 /PRNewswire/ — True Magnificence Ventures L.P. (“Genuine Splendor”), the only magnificence- and wellness-devoted fund with a blended 30 several years of institutional elegance investing and operating knowledge, declared right now that it has closed its debut fund, surpassing its first focus on of $30M, and achieving in excess of $42 Million. The fund is led by Abundant Gersten and Cristina Nuñez, who alongside one another present a rare depth of beauty skills in emerging expansion investing.
“We introduced Real Splendor to leverage our exclusive splendor-concentrated investing and operating expertise and the in depth elegance ecosystem I experienced created around many many years. That is our unfair gain,” mentioned Prosperous Gersten, Co-Founder and Controlling Husband or wife. “We hook up with our founders on a further amount for the reason that we definitely comprehend their enterprises and can assist accelerate development, although keeping away from high priced problems together the way.”
Éva Goicochea, founder and CEO of maude, stated “Genuine Beauty fundamentally understands both of those the artwork and the science to constructing impactful, earth-transforming manufacturers. Cristina and Rich’s considerate approach and deep experience in attractiveness and individual care make them additive and unparalleled companions throughout the journey of creating the business and maude is happy to have them major the way with us.”
Correct Magnificence is actively creating a curation of classification leaders and has produced 6 investments to day: AQUIS and K18 Hair (science-primarily based hair care), Kinship (clear Gen Z skin care), Feals (quality DTC CBD), Crown Affair (luxurious ritual-based mostly hair treatment), maude (present day intimacy brand), and a soon to be introduced clear make-up model. Legitimate Attractiveness values the robust partnership it has with each individual founder to assistance affect productive results.
“Alongside one another Rich and Cristina convey a wealth of awareness and know-how, they have special insights and actively roll up their sleeves to assist execute on critical path objectives,” reported Britta Cox, Co-founder of AQUIS and K18.
“Loaded and Cristina make for an extraordinary elegance investing combo. Their perception in purpose-led organizations and in exclusive insights that challenge the status quo — in addition to a ongoing target on founders’ power versus weak spot — helps make them an great partner specially for ego-absolutely free founders pushed by influence and outcomes,” reported Suveen Sahib, Co-Founder of AQUIS and K18.
Yet another important spot of concentration for Legitimate Attractiveness is to offer a lot more equitable access to funds with the basic belief that investing in range provides stronger returns.
“As a Latinx woman Co-Founder and Normal Spouse, I am component of the 2.4% of US-based VC founding companions who are gals, a staggering statistic documented by Women in VC,” said Cristina Nuñez. “We will need people on both equally sides of the table, the investment decision final decision makers and the model founders, to replicate the markets they provide. To day, I am proud that our business is vast majority woman and in excess of 80% of our present husband or wife brands have gals or minority founders.”
Associates Loaded Gersten and Cristina Nuñez have regarded every other for eleven decades and worked jointly many instances in the previous. Prosperous is a seasoned institutional trader who has specialised in natural beauty and private treatment and was a previous lover at personal fairness corporations Tengram Cash, L Catterton, and North Castle Partners. Cristina has a combination of customer personal fairness investing working experience at Tengram Cash and L Catterton as perfectly as attractiveness operating expertise as an government at Clark’s Botanicals and Laura Geller Magnificence.
In addition to the team’s working experience, Legitimate Beauty has also proven a elegance advisory board consisting of knowledgeable natural beauty executives to present supplemental assistance and steering to its companion brands. The board consists of Elana Drell Szyfer, CEO of RéVive Skincare Emily Dougherty, former Editor-in-Main of NewBeauty Kelly St. John, CEO & Founder of KSJ Collective Janna Ronert, Founder & Chairwoman of Picture skincare Joel Palix, Founder of Palix Unrestricted and John Elmer CFO & COO, RéVive Skincare.
The fund is supported by a diverse and strategic LP foundation, together with elegance founders and executives, financial establishments, and family offices.
About Genuine Elegance Ventures
True Magnificence pursues $1-5 Million investments in magnificence, wellness and particular treatment manufacturers seeking a partnership anchored in strategic and operational sector expertise. The partners’ considerable investing and running knowledge allow them to detect successful brands at an inflection issue of breakout progress and assistance them scale and exit properly. As sector specialists, Genuine Elegance has the overall flexibility to make investments throughout various development phases, from Seed to Collection C.
To learn extra about True Elegance, to be regarded as for expense, or turn out to be a brand name lover, be sure to uncover them at www.truebeautyventures.com and comply with them on Instagram @truebeautyventures and LinkedIn.
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