THE WHAT? Ex-Lancome CEO Odile Roujol-owned beauty venture fund FAB Ventures has announced the first closing of a targeted $10 million new venture capital fund focused on clean beauty and wellness, as well as sustainable luxury fashion and Femtech. 

THE DETAILS The fund is set to invest in U.S. start-ups and aims to be a launching base for future fashion and beauty direct-to-consumer innovators. 

The closing of the new BeautyTech and FashionTech Venture Capital fund (FAB Co-Creation studio Venture I) in May will be followed by final closing at up to $10 million (€8.5 million) later in 2021.

Roujol stated, “We are a lean structure, company builders offering operational support for accelerated growth. We begin with the customer and the community. We believe in the power of brands and design.”

The company’s first seven investments include Stix, a women’s health company, Bloomi, which creates women’s sexual health products, and the KhairPep hair-care line. 

Talking to WWD.com, Roujol said, “The new rules of the game are not to raise too much money and then slowly add sku’s — you need to have great products. Honestly, I’m not trying to build unicorns. I’m trying to help founders be successful in seven to 10 years. Then the founder, the employees and the corporations that come in will all win.”

THE WHY? FAB Ventures is thought to be one of the few companies actively focusing on new fashion and beauty brands, with Roujol highlighting the difficulty faced by female and minority founders in gaining their first investments. 

She said, “I believe that diverse perspectives make us stronger and I wanted to support founders who care. Investing in a diverse team drives innovation, tackling underserved needs that require an intimate understanding of certain problems. Founders who build a community, try to make people’s lives better. A more sustainable way of living, taking care of our mind and body, and our impact on the planet.”