Press Reset Ventures is a new fund established by KraveBeauty to invest in the next generation of sustainable and inclusive beauty.
WHO: Press Reset Ventures is a fund and studio looking to leverage the success of entrepreneur Liah Yoo and the team at direct-to-consumer beauty brand KraveBeauty to empower a new class of entrepreneurs. With the venture capital industry pressuring founders to grow at all costs, Press Reset Ventures aims to be a long-term partner in ensuring intentional expansion with their portfolio companies. The venture studio seeks to support B2B and B2C start-ups that prioritize sustainable innovation in product design, and inclusivity within their core values.
WHY: The beauty industry has been defined by enormous inflows of capital funding. The average hold period for beauty and personal care investments is 3-5 years versus 10-15 years for traditional venture capital investments. Press Reset Ventures wants to change the paradigm of investor pressure on indie beauty brands to expand product ranges beyond what customers need, working towards the ultimate exit.
IN THEIR OWN WORDS: "Mindful growth and founder autonomy have been foundational to KraveBeauty's success," said Yoo, "I've seen many peer founders devote efforts to please investors rather than serving their key stakeholders—customers, employees, and the environment. Press Reset Ventures strives to reimagine what a successful exit looks like that benefits the stakeholders rather than shareholders."
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