BrainTrust Founders Studio, a Los Angeles, CA-based members-only platform dedicated to Black founders of beauty and wellness companies, launched the BrainTrust Fund, a planned $25m venture fund.
The BrainTrust Fund invests exclusively in early stage companies identified via BrainTrust Founders Studio, whose 120+ members collectively sold more than $100 million in products via 23,000 retail doors and online in the past year.
Led by General Partners Kendra Bracken-Ferguson and Lisa Stone, BrainTrust Fund is investing in beauty and wellness companies across 20+ sub-sectors, from fragrance to AI and technology. Companies must have at least one Black-identifying founder as a member of BrainTrust Founders Studio, who seeks coaching and advice from investors, and has repeatable revenues of $1+ million or more.
The BrainTrust Fund also announced a $1m equity investment into Listener Brands, Inc., the parent company of hair care brands CurlMix and 4COnly created by Founder and Chief Executive Officer Kim Lewis. Listener Brands is the fourth investment by the BrainTrust Fund, joining a portfolio that includes BeautyStat, Thirteen Lune and Uoma Beauty.
The BrainTrust Fund, anchored by WestRiver Group, includes an accredited investor community that include: Chidinma Asonye, President, S by Serena; Tara Abraham, Founder and Chairwoman, Accel Inc; Erik Anderson, CEO, WestRiver Group, Valerie Antoine-Gustave, physician; Melanie Bender, CEO, rhode; Delivette Castor, assistant professor; Stephanie Chung, speaker; Jotaka Eaddy, CEO, FullCircle Strategies; Anne French, strategist; Beth Haggerty, Co-founder, Inflection Point Partners; Liz Jenkins, COO, Hello Sunshine; Luvvie Ajayi Jones, author; Karla Martin, Managing Director, Deloitte Consulting LLP; Pardis Nasseri, CEO and President, PalmTree LLC; Richelle Parham, President, Universal Music Group, Global eCommerce and Business Development; Thai Randolph, CEO, Hartbeat Enterprises; Dee M. Robinson, CEO, Robinson Hill; Bridgette L. Smith, CEO, Founder Playbook; Robert Thomas, CIO, George Kaiser Family Foundation; Igor Vaks, CEO, CreatorIQ; Beth Ward, CEO, Beth Ward Studios; Anne Clarke Wolff, CEO, Independence Point Advisors; and Julee Wilson, Executive Director, BeautyUnited and Beauty Editor-at-Large, Cosmopolitan.
FinSMEs
20/06/2023