Ulta Beauty launches fund demonstrating the resilience of corporate venture capital – Marketingwithanoy

in the past For several years, corporate venture capital investors have solidified their status as a reliable source of venture capital financing. The number of companies launching investment weapons has exploded and the amount of new funds has continued to rise despite the current market volatility.

Ulta Beauty, the largest beauty supply chain in the US, became the latest company to launch a venture arm this week. Prisma Ventures will tap into a $20 million fund to support startup companies that have the potential to improve the online or in-store shopping experience for Ulta customers. Ulta Chief Digital Officer Prama Bhatt said that after years of in-house technology development, a venture fund seemed like the next step to drive innovation at the company.

“As we think about our goal of shaping the future of the beauty landscape, it seems appropriate to continue that vision by partnering with startups,” Bhatt told Marketingwithanoy.

Ulta is just the latest corporate venture fund to launch this year. Consumer-focused companies, including The Home Depot and Chipotle, also announced funds this year, while companies ranging from drug wholesaler AmerisourceBergen to defense consultancy Booz Allen Hamilton also introduced funds. These four funds alone bring $450 million to the table.

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