A nonprofit organization, the British Beauty Council, is collaborating with London- and New York–based venture capital firm Venrex on a new early-stage beauty fund focused on consumer and B2B businesses headquartered in the UK. WHO: Venrex BBCo I has the potential to seek out the next problem-solving cosmetic product, the supply chain time-saver, or planet-friendly packaging solution of the future and is open to brands and businesses from across the beauty supply chain. The fund will focus at the pre-seed to Series A stage, investing in founders building high-growth potential businesses backed by unique drive, vision, and ambition.The British Beauty Council is a not-for-profit organization dedicated to solving beauty’s shared challenges. It represents the broader industry by generating conversation with the government to tackle issues facing the industry today and in the future. The Council collaborates with a diverse network of patrons and affiliates so that every sector within the beauty industry can thrive. Venrex is an early-stage venture capital fund manager primarily backing technology-enabled businesses in consumer industries. Venrex has a track record of backing creative entrepreneurs and has invested in many beauty, wellness, and beauty-related businesses across its funds.WHY: The beauty industry has a unique opportunity to close the fundraising gender gap in the UK, as a hub of female entrepreneurship. In fact, £250 billion could be added to the UK economy if women started and scaled businesses at the same rate as men, according to The Alison Rose Review of Female Entrepreneurship: Progress Report, NatWest (2023).