Shiseido Long Term Investments for the Future (LIFT) Ventures will invest in beauty and wellness startups outside of Asia.
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Japan-headquartered personal care and beauty company Shiseido has announced the launch of a corporate venture fund.
Shiseido Long Term Investments for the Future (LIFT) Ventures will invest in early stage startups in the beauty and wellness industry. The new fund will be based in New York and headed by Ron Gee, Shiseido Americas president and chief executive.
The new fund’s size is undisclosed but the company said the fund will make more investments in 2024.
LIFT Ventures has made investments in startups including Phyla, a US-based skincare company that raised $575,000 in September 2023, and Australia-based male grooming business Patricks.
Shiseido’s venture investments have previously been focused in Asia. Its Shiseido Beauty Innovations Fund, launched in August 2022, invested $140m in Chinese beauty startups such as Jiangsu Trautec Medical, a collagen-biomaterials company, which raised $27.9m in a series A funding round in 2022.
Masahiko Uotani, chairman and chief executive of Sheisedo, said in a statement: “The creation of LIFT Ventures represents a new opportunity to partner with organisations focused on creating pioneering beauty wellness solutions and to gain further insights and access for Shiseido’s growth ambitions.”
Read more on Shiseido in a GCV story on beauty sector investing here: Why beauty companies are taking tips from China