Tuesday, June 20, 2023

BrainTrust Aims $25M Fund At Black Beauty, Wellness Startups

Los Angeles-based BrainTrust Founders Studio said on Monday that it has launched a new, $25M venture capital fund, the BrainTrust Fund, which it will invest in early stage beauty and wellness brands created by Black founders. According to the firm, the fund will invest in early stage companies which are identified by its "BrainTrust Founders Studio". The new venture fund's General Partners are Kendra Bracken-Ferguson and Lisa Stone. According to BrainTrust, it will look to invest in companies that have at least one Black-identifying founder who is a member of its network, and has revenues of $1M or more. The fund says it recently invested $1M in Listener Brands, the parent company of hair brands CurlMix and 4COnly, and also has made investments in BeautyStat, Thirteen Lune and Uoma Beauty.