Last year, L’Oreal invested in UK accelerator Foundry Factory, and now they’re hedging their bets on start-ups with an investment in Partech Ventures.
WHO: Partech Ventures is an early stage fund founded in 1982. Most Partners have been entrepreneurs themselves or have held management positions within tech companies. The partnership acts and invests as a single team, helping entrepreneurs build fast-growing tech and digital companies addressing large markets across multiple continents.
WHY: This investment gives L’Oreal a line into innovations and services including prediction and personalization tools, AI, and marketplaces.
IN THEIR WORDS: Lubomira Rochet, Chief Digital Officer for L’Oréal, said: “Our unique relationship with Partech Ventures will give us access to a high quality and comprehensive sourcing of the best B2B and B2C digital players and contribute to the Group’s global strategy of Open Innovation.” Meanwhile, Philippe Collombel, co-Managing Partner of Partech Ventures, praised L’Oréal for being among the first to “understand” the potential of digital transformation.
He said: “This partnership embodies Partech Ventures’ international DNA and will enable win-win business opportunities for L’Oréal and our portfolio companies.”
Read the full L’Oreal press release