Cosmetic Design reported that newly formed Next8 Investments has acquired Matter of Fact skincare for an undisclosed sum.WHO: Founded by former K-pop artist and Harvard grad Paul Baek, Matter of Fact is positioned as science-backed optimized skincare. The brand's philosophy focuses on developing innovative products made with clinically proven ingredients formulated with 11 patent-pending technologies, allowing for a first-of-its-kind combination therapy and multi-benefit user experience.Next8 Investments is an incubator founded by seasoned beauty veterans and husband and wife Edward Connaghan and Denise Russell. Connaghan served as President of K18 from 2020 to 2024, while Russell worked as the haircare brand’s Senior VP of Global Business Development. The duo also served as former brand architects for Olaplex.WHY: The founders of incubator Next8 Investments told Cosmetic Design the brand is "tipped to be a skin care unicorn."IN THEIR OWN WORDS: “We want to help the next generation of innovators navigate the complexities of launching disruptive, game-changing brands,” said Connaghan.DETAILS:Next8 Investments has acquired Matter of Fact skincare for an undisclosed sum. In March of 2023, Matter of Fact closed an additional $6 million round of funding, which brought funding to $16 million.In October 2021, Matter of Fact skincare launched with $10 million in seed funding from Horizon Ventures, Cowboy Ventures, and First Round Capital with participation from angel investors Birchbox co-founder Hayley Barna and former Allure Editor-in-Chief Michelle Lee.