Japan-headquartered cosmetics brand Shiseido has set up a corporate venturing unit in China called Shiseido Beauty Innovations Fund that will be managed by venture capital firm Boyu Capital.
Shiseido said it was the first fund based in mainland China to have a beauty company as a sole limited partner. It will back emerging Chinese cosmetics and wellness brands as well as developers of products in related areas such as e-commerce services and consumer experience technology.
Shiseido established its China Business Innovation and Investment Office in Shanghai in 2019 under Carol Zhou as an operational hub to promote innovations in existing businesses and new business development.
The move followed the formation of Shiseido Venture Partners as a local corporate VC unit in 2016 with limited deal activity, though it did invest in Japan-based healthcare automation technology developer Dricos that year.
Photo of Carol Zhou courtesy of LinkedIn.
