Aria Growth Partners made its first inaugural investment, taking a minority stake in Hero Cosmetics, known for its range of hydrocolloid acne patches.
WHO: Hero was founded in 2017 by Ju Rhyu with Dwight Lee and Andrew Lee. The business has focused on selling skincare products online on its own site, as well as at Amazon and Target, Ulta Beauty, CVS, Anthropologie, and Urban Outfitters.
Aria Growth Partners was founded by partner Trevor Nelson, formerly of Alliance Consumer Growth, and principal Jackie Dunklau, formerly of Cavu Ventures. The group plans to invest in founder-led businesses across consumer product categories, including beauty and personal care, as well as food and beverage and household products.
WHY: The investment will be used for product development and to build out a leadership team.
IN THEIR OWN WORDS: “We knew we were sort of at this moment of scale and big growth, and we knew it was time to get other people who could help us take the business to the next level,” Ju Rhyu, Hero co-founder and Chief Executive Officer, told WWD.
Aria Growth Partners’ Trevor Nelson told WWD Aria wanted to invest in Hero because the company has built a “thoughtful platform” for functional skincare. “If you bring innovative products in other parts over time of skin care, we believe there’s going to be an audience there,” he said. “The opportunity is huge.”
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