BOLD (Business Opportunities for L'Oréal Development)

BOLD (Business Opportunities for L'Oreal Development) is the global corporate venture capital fund of L'Oreal, the world's largest beauty company. Founded in 2018 and headquartered in Clichy, France, BOLD explores the frontier of beauty through strategic minority investments in promising startups across the beauty value chain. The team of nine includes three Partners and four Principals based in France. The fund leads rounds and has invested across 19 companies with 31 total investments including follow-on rounds. BOLD invests across seed, Series A, and Series B stages with check sizes from $1 million to over $10 million depending on the round. Notable investments include Debut (synthetic biology for cosmetics ingredients, where BOLD led a $40 million Series B), Timeline (a Swiss longevity biotech company that holds the proprietary Mitopure molecule, where BOLD led a $66 million Series D alongside Nestle), Carbios (plastic recycling biotech that IPO'd on Euronext), BORNTOSTANDOUT (fragrance brand), SPARTY (personalized beauty D2C from Japan, invested May 2022), and Live Tinted (personal products, most recent investment February 2026). Gjosa, a water-saving technology company, was acquired. Global Bioenergies also IPO'd from the portfolio. Investment themes span sustainable beauty, clean and natural beauty, health and wellness, beauty tech, green science, data management, and Web3 applications. BOLD's strategic value to portfolio companies extends far beyond capital. Startups gain access to L'Oreal's 110 years of beauty heritage, global R&D capabilities spanning 35 research centers in 10 countries, worldwide distribution infrastructure, and proprietary consumer insights across all beauty categories. This makes BOLD a uniquely strategic partner for founders building at the intersection of science, technology, and beauty.