Nykaa, L’Oréal’s BOLD Fund Team Up to Back Beauty Startups

Nykaa and BOLD (Business Opportunities for L’Oréal Development), L’Oréal’s corporate venture capital fund, have announced a collaboration to jointly invest in the next generation of high-growth Indian beauty and personal care brands.

Through the partnership, BOLD and Nykaa will take minority stakes in emerging Indian beauty and wellness brands with strong consumer traction, with investments structured as purely financial and minority in nature so that founders retain full ownership and continue running their businesses independently. Beyond capital, the two firms will offer mentorship and access to L’Oréal’s global beauty expertise alongside Nykaa’s omnichannel retail network and consumer ecosystem understanding.

Launched in 2018, BOLD invests across the beauty value chain through two verticals: Beauty and Wellness Brands, and Science and Tech for Beauty, while preserving the independence of the companies it backs.

“India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs. Through BOLD and this partnership with Nykaa, we want to stand behind that talent backing founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them free to build their brands their way,” said Jacques Lebel, Managing Director, L’Oréal India.