British Beauty Council & Venrex Launch Venrex BBCo I Fund to Support Beauty Industry
The British Beauty Council has announced a partnership with venture capital firm Venrex to launch a new investment fund, Venrex BBCo I, aimed at supporting the next generation of beauty industry innovators. This fund will focus on high-growth potential businesses, ranging from pre-seed to series A stages, with a strong emphasis on creativity, sustainability, and entrepreneurship. The goal is to invest in founders who demonstrate exceptional vision and drive, whether through product development, supply chain innovations, or eco-friendly packaging solutions.
The British beauty industry contributes £27.2 billion to the UK economy, a figure expected to rise to £28.1 billion by 2024. With this fund, the Council and Venrex aim to nurture a vibrant ecosystem within the beauty sector, especially by closing the fundraising gender gap. As highlighted in the Alison Rose Review, £250 billion could be added to the UK economy if women started and scaled businesses at the same rate as men.
Millie Kendall OBE, CEO of the British Beauty Council, said, “The beauty industry is unique in the fact that it sits at the intersection of creativity, innovation and commerce. By combining Venrex’s unmatched expertise of the funding environment with the Council’s industry insight, I am confident that we will support businesses...pushing industry boundaries when it comes to formulations, environmental impact, and entrepreneurship.”
Venrex, with a proven track record of supporting successful beauty brands such as Charlotte Tilbury and Lisa Eldridge, will work closely with the Council to identify and support emerging talent.
Josie Buck, Principal of Venrex Investment Management, added: “We are excited to collaborate with the British Beauty Council... Our experience as investors in businesses such as Charlotte Tilbury... have shown us that the UK creative sectors and their entrepreneurs are world-class”.
This collaboration offers a significant boost to British beauty entrepreneurs, opening doors for innovation and creativity within the sector. By fostering new talent and promoting growth, the Venrex BBCo I fund aims to ensure that the UK beauty industry continues to thrive globally.
