Brazilian beauty conglomerate Natura &Co launched a new corporate venture capital arm that VOX Capital will manage.WHO: Brazilian cosmetics and personal care group Natura has launched a corporate venture capital fund called Natura Ventures (Época Negócios) located in São Paulo, Brazil. The fund targets seed-stage start-ups focused on the circular economy, beauty, and customer service technology sectors. Brazilian impact investment firm Vox Capital will jointly manage the fund. Natura &Co is a global purpose-driven group uniting Natura and Avon brands. They connect more than 200 million clients worldwide, engaging them through 7 million dedicated consultants and representatives, 900 stores and franchises, and 22,000 employees.IN THEIR OWN WORDS: José Manuel Silva, Vice President of New Business at Natura &Co Latin America, told Época Negócios, “Natura has been doing open innovation for over 20 years, and we had already worked in some way with corporate venture capital but without having an official VC instrument.”DETAILS:Natura Ventures is a venture capital fund co-managed by Natura &Co and Vox Capital.With an initial commitment of R$ 50 million ($9.2 million for the first three years), the venture arm will invest in up to 15 Brazilian beauty start-ups at the seed stage focused on circularity, beauty, and customer service.The fund will provide start-ups with funding ranging between R$2 million ($0.37 million) and R$10 million ($1.8 million).Natura &Co runs another CVC subsidiary, Fable Investments, which launched in 2021 and targets emerging beauty and wellness brands.