10.26.23
KD Capital, a venture capital firm, has made a $12 million investment in beauty brand incubator FounderSix. The funding will enable the company to extend its model and introduce new influencer-led beauty brands to the market.
The news follows a third successful FounderSix brand launch. Ravie Beauty, a new makeup company created with YouTuber Allie Glines, achieved one year of projected sales in the first thirty minutes of going live. This result shows the potential of the FounderSix business model and gives a clear blueprint for all their future brands.
Along with providing the initial capital for their current and future portfolio companies, FounderSix runs all the operations behind the scenes. At the core of this is product development, with team members who have worked at, or with, industry leading giants such as L'Oréal, Shiseido, Unilever and Johnson & Johnson.
FounderSix also boasts close working relationships with manufacturing facilities in South Korea, Italy, and the U.S. among others, which ensures that the trust already imbued between the influencer and their audience is reinforced with product and brand experience.
Lewis Cheng, Managing Partner of KD Capital, said, "Our investment in FounderSix is a testament to our trust in Oli and Pieter's leadership. Their guiding principle of investing in people, not just ideas, resonates deeply with us. Both have a fantastic talent for creating exciting new brands from scratch and their proven track record makes us very excited to support their vision into the future."