December 11 2023  |  Fragrances, Cosmetics, Skincare & Haircare

Shiseido announces launch of venture fund

By Hibah Noor

Shiseido Company, Limited (Shiseido) has announced the launch of Shiseido Long Term Investments for the Future (LIFT) Ventures, a newly formed limited liability company, which will be a vehicle for investing in innovative early-stage companies within the beauty wellness space. LIFT Ventures is focused on investing behind novel technologies, innovative platforms, high-growth brands, and new business models, among others. The creation of a dedicated fund aligns with Shiseido’s goal of becoming a personal beauty wellness company. The fund will primarily focus on compelling innovation in the Western hemisphere, while maintaining a global lens.

Concurrently, the company also announced the fund’s inaugural investments in Phi Therapeutics, Inc. (“Phyla”), a pioneer in bacteriophage technology and in Patrick Kidd Holdings Pty Ltd. (“Patricks”), a men’s grooming brand with an elevated lifestyle approach. Phyla is based in San Francisco, California and was founded by Yug Varma, PhD. Patricks is based in Sydney, Australia and was founded by Patrick and Aimee Kidd.

“Since Shiseido’s founding in 1872, innovation has served as a foundational pillar of our company and a critical component of our future,” said Masahiko Uotani, Chairman and CEO of Shiseido. “The creation of LIFT Ventures represents a new opportunity to partner with organizations focused on creating pioneering beauty wellness solutions and to gain further insights and access for Shiseido’s growth ambitions. LIFT Ventures presents a welcome opportunity to build knowledge, create value, and ultimately, achieve meaningful progress for all.”

“LIFT Ventures accelerates Shiseido’s continued focus on innovation and represents a natural extension of our commitment to enable the future of beauty and wellness,” said Shiseido Americas’ President and CEO, Ron Gee. “Supporting, mentoring, and empowering new businesses is an important component of our future roadmap. We are excited to share our unique perspective, exercise our extensive experience, forging strategic partnerships and helping like-minded entrepreneurs scale and achieve long-term growth. With this in mind, we are delighted to partner with Phyla and Patricks, two companies focused on driving innovation and disrupting their respective categories.”

LIFT Ventures will be led by Ron Gee and will be located in New York City.

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