Nykaa, L’Oréal’s BOLD to invest in Indian beauty startups

Nykaa and L’Oréal’s corporate venture capital arm BOLD are joining hands to invest in Indian beauty, personal care and wellness startups, as established players look to gain exposure to the country’s growing pool of consumer brands.

BOLD is Business Opportunities for L’Oréal Development, which was set up in 2018 as L’Oréal’s venture capital fund. It has invested in startups across the beauty value chain, particularly businesses focused on innovation and growth.

The latest partnership will see the two companies take minority stakes in high-growth businesses, with founders retaining ownership and operational control. Beyond capital, the partners will offer portfolio companies access to mentorship, industry expertise and their respective networks.