L’Oréal, a France-based beauty company, has committed to Cathay Innovation, a global venture capital fund managed by Cathay Capital.
L’Oréal said the commitment from its corporate venture capital fund, BOLD Business Opportunities for L’Oréal Development, would strengthen its connection to the beauty tech startup ecosystem, particularly in China, the group’s second largest market.
Fabrice Megarbane, president of L’Oréal China, said: “Our objective is to help young entrepreneurs by sharing L’Oréal’s expertise and experience in order to co-create the products and services of tomorrow.”
Mingpo Cai, founder and president of Cathay Capital, added: “China is a breeding ground for innovation in the new uses of disruptive technology, and in particular in the world of beauty.”
