Beauty has been a hotbed of M&A activity for years now, with strategic buyers vying to take over companies and capabilities, and paying top dollar to do so. Before that, though, come the early-stage investors. That group seems to grow by the year, as more firms hope to realize outsized exits with major returns. Here, a rolodex of key U.S. venture capital and private equity investors in the beauty sphere, in alphabetical order.
Advent International
Headquarters: Boston
Current Beauty Investments: Olaplex
Deal Size: Invests $100M to $2B in companies with $50M-plus in sales.
Key Player: Tricia Glynn, managing director
Alliance Consumer Growth
Headquarters: New York and Los Angeles
Current Beauty Investments: Harry’s, Milk Makeup, Ouai, Nudestix, Pacifica, Tata Harper
Deal Size: Invests $5M to $30M in companies with $5M to $50M in sales.
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Key Player: Julian Steinberg, cofounder and managing partner
Ancora Investment Holdings
Headquarters: Chicago
Current Beauty Investments: Indie Lee, Vapour Beauty, Taos Aer Clean Deodorant
Deal Size: Invests varying amounts in companies with up to $10 million in sales.
Key Players: Nicky Kinnaird, Lori Perella Krebs, co-founders
Bain Capital
Headquarters: Boston
Current Beauty Investments: Maesa, WWP Inc.
Deal Size: Invests $150M-plus in companies with $100M to $5B in sales.
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Key Players: Ryan Cotton, managing director; Miray Topay, principal
Beechwood Capital
Headquarters: Wellesley, Mass.
Current Beauty Investments: Kosas, Shani Darden Skin Care, Violet Grey
Deal Size: Invests $2M to $5M in companies with $5M to $20M in sales.
Key Player: Larry Kahn, founder and managing partner
Bertram Capital Partners
Headquarters: San Mateo, Calif.
Current Beauty Investments: Paula’s Choice
Deal Size: Invests $25M to $100M in companies with between $30M to $250M in sales.
Key Player: Jeff Drazan, managing director
The Carlyle Group
Headquarters: Washington, D.C.
Current Beauty Investments: Perfect Diary, Tokiwa
Deal Size: Invests $50M to several billion dollars per company, in companies with at least $75M in sales.
Key Player: Jay Sammons, managing director
Clerisy
Headquarters: Miami
Current Beauty Investments: N/A
Deal Size: Invests $5M to $20M in companies with$10M-plus in sales.
Key Players: Alexandra Wilkis Wilson; Lisa Myers, cofounders
Cornell Capital
Headquarters: New York
Current Beauty Investments: Knowlton Development Corp., Blue Mistral
Deal Size: Invests $25M to $100M in companies with between $10M to $500M in sales.
Key Player: Justine Cheng, partner
Cult Capital
Headquarters: New York
Current Beauty Investments: Supergoop, Lawless Beauty
Deal Size: Invests up to $10M in companies with at least $2M in sales.
Key Player: Christine Holcomb, brand associate
DGNL Ventures
Headquarters: New York
Current Beauty Investments: N/A
Deal Size: Invests between $250,000 to $1M in companies with at least $2M in sales.
Key Player: Desiree Gruber, founder
Encore Consumer Capital
Headquarters: San Francisco
Current Beauty Investments: Supergoop, Butter London
Deal Size: Invests $5M to $40M in companies with between $10M to $100M in sales.
Key Players: Robert Brown, managing director, Nichole Novak Ferrara, vice president
Fenwick Brands
Headquarters: Birmingham, Ala.
Current Beauty Investments: Madison Reed, Ursa Major
Deal Size: Invests $3M to $12M in companies with $5M-plus in sales.
Key Player: Elizabeth Stewart, partner
Finn Capital Partners
Headquarters: San Francisco
Current Beauty Investments: Starface, Crown Affair, Winky Lux, Kjaer Weis, Ursa Major, Needed, Cake, Plus, Vacation
Deal Size: Invests $100,000 to $1.5M in companies with up to $10M in sales.
Key Player: Pat Finn, managing partner and cofounder
Forerunner Ventures
Headquarters: San Francisco
Current Beauty Investments: Glossier, Curology, Prose, Necessaire
Deal Size: Invests $1M to $10M in companies with $1M to $10M-plus in sales.
Key Player: Kirsten Green, founder and managing partner
General Atlantic
Headquarters: New York
Current Beauty Investments: Forma Brands, Grove Collaborative
Deal Size: Invests $25M to $500M in companies of varying sizes.
Key Player: Andrew Ferrer, managing director
Gryphon Investors
Headquarters: San Francisco
Current Beauty Investments: RoC Skincare, Milani Cosmetics
Deal Size: Invests $50M to $500M in companies with $50M to $250M in sales.
Key Player: Matt Farron, partner
Grace Beauty Capital
Headquarters: New York
Current Beauty Investments: Pause Well Aging, Supergoop, Pinrose, Glamsquad, Birchbox, Harry’s
Deal Size: Invests $500,000 to $5M in companies with less than $20M in sales.
Key Player: Frank Fazzinga, president
Highlander Partners
Headquarters: Dallas
Current Beauty Investments: N/A
Deal Size: Varying amounts in businesses with sales between $10M and $100M
Key Player: David Olsen, managing director
Imaginary Ventures
Headquarters: New York
Current Beauty Investments: Bread Beauty Supply, Hum Nutrition, Nécessaire, Hawthorne, Kosas, Glossier
Deal Size: Invests $1M to $10M in companies prelaunch to $50M in sales.
Key Player: Kelly Dill, principal
Kainos Capital
Headquarters: Dallas
Current Beauty Investments: Beautybio
Deal Size: Invests $30M to $150M in companies with $20M to $100M in sales.
Key Player: Jay Desai, partner
KarpReilly
Headquarters: Greenwich, Conn.
Current Beauty Investments: BoxyCharm, Freck Beauty, Clean Skin Club
Deal Size: invests $500,000 to $25M in companies with up to $50M in sales.
Key Player: Will Mooney, vice president
L Catterton
Headquarters: Greenwich, Conn.
Current Beauty Investments: Bliss, Ideal Image, One Spa World, StriVectin, The Honest Co., Intercos, CoverFX, Il Makiage, Kopari, Nutrafol, Public Goods, Tula, Etvos, Marubi, Pibiplast, Espacolaser.
Deal Size: Invests $10M to $1B in companies with $5M to $1.5B-plus in sales.
Key Player: Nik Thukral, managing partner
Main Post Partners
Headquarters: San Francisco
Current Beauty Investments: Dr. Dennis Gross Skin Care, Sugared + Bronzed, Not Your Mother’s, Milk Makeup
Deal Size: Invests $25M to $150M+ in companies with between $25M and $250M-plus in sales.
Key Player: Jeff Mills, managing partner
MidOcean Partners
Headquarters: New York
Current Beauty Investments: BH Cosmetics, Image Skincare
Deal Size: Invests $30M to $50M in companies with $20M to $250M in sales.
Key Players: Sara Parker, principal; Matt Rubel, chairman
New Theory Ventures
Headquarters: Houston and Los Angeles
Current Beauty Investments: Owa Hair, Selfish, Scotch Porter
Deal Size: Invests $1M-$20M in companies with up to $40M in sales.
Key Players: Nikki Eslami and Rob Sebastian, co-founders and partners
North Castle Partners
Headquarters: Greenwich, Conn.
Current Beauty Investments: N/A
Deal Size: Invests $10M to $50M in companies with more than $10M in sales.
Key Player: Rich Gersten, industry adviser
Point King Capital
Headquarters: San Francisco and Sydney
Current Beauty Investments: The Beauty Chef, Bybi, Esmi Skin Minerals
Deal Size: Invests $250,000 to $50M in companies of varying sizes.
Key Player: Sam McKay, founding partner
Prelude Growth Partners
Headquarters: New York
Current Beauty Investments: 8Greens, Sol de Janeiro, Summer Fridays, Westman Atelier
Deal Size: Invests $8M to $30M in companies with between $8M to $50M in sales.
Key Players: Neda Daneshzadeh, partner, Alicia Sontag, partner
San Francisco Equity Partners
Headquarters: San Francisco
Current Beauty Investments: Yes To, Jane Iredale
Deal Size: Invests $10M to $50M in companies with $10M to $75M in sales.
Key Player: Scott Potter, managing partner
Sandbridge Capital
Headquarters: New York
Current Beauty Investments: Ilia, Peach & Lily, Youth to the People
Deal Size: Invests $10M to $30M in companies of varying sizes.
Key Player: Ken Suslow, founding managing partner
Silas Capital
Headquarters: New York
Current Beauty Investments: Ilia Beauty, Herbivore, Hatch Collection, Function of Beauty, Everden, Zitsticka
Deal Size: Invests $3M to $10M in companies with sales between $5M and $25M.
Key Player: Brian Thorne, partner
Sonoma Brands
Headquarters: Sonoma, Calif.
Current Beauty Investments: Hum Nutrition, True Botanicals, Versed, Merit
Deal Size: Invests $2M to $5M in companies with $3M to $30M in sales.
Key Player: Kevin Murphy, managing director
Stage1 Fund
Headquarters: Anaheim Hills, Calif.
Current Beauty Investments: Ellis Brooklyn, Freck Beauty, Hatch Collection, Herbivore Botanicals, Saie
Deal Size: Invests $100,000 to $2M in early-stage Stage1 clients.
Key Player: Lila Sharifian, chief financial officer, personal care and beauty
Stripes Group
Headquarters: New York
Current Beauty Investments: Kosas
Deal Size: Invests $10M-$100M+ in companies with $10M+ in sales.
Key Player: Christianne Molina, associate
Swander Pace
Headquarters: San Francisco
Current Beauty Investments: Glo Skin Beauty, J.R. Watkins
Deal Size: Invests $10M to $60M in companies with between $20M and $300M in sales.
Key Player: Mo Stout, managing director
TA Associates
Headquarters: Boston
Current Beauty Investments: Paula’s Choice, MAV Beauty Brands
Deal Size: Invests $50M to $500M in companies of varying sizes.
Key Player: Jeffrey Barber, managing director
Topspin Consumer Partners
Headquarters: Mamaroneck, N.Y.
Current Beauty Investments: Japonesque, reCommerce
Deal Size: Invests $10M to $35M in companies with $20M to 100M in sales.
Key Player: Leigh Randall, managing partner
TPG
Headquarters: San Francisco
Current Beauty Investments: Rodan + Fields, Anastasia Beverly Hills (TPG Capital), Beautycounter, Ipsy (TPG Growth).
Deal Size: TPG Capital invests $100M-plus in companies with $100M-plus in sales. TPG Growth invests $50M to $200M in companies with $30M-plus in sales.
Key Players: Paul Hackwell, partner, TPG Capital / Heather Smith Thorne, partner, TPG Growth
Traub Capital
Headquarters: New York
Current Beauty Investments: Mana Products, EverPro GreyAway
Deal Size: Invests $15M to $50M per acquisition in companies with $50M to $250M in sales.
Key Player: Mortimer Singer, managing partner
True Beauty Capital
Headquarters: New York
Current Beauty Investments: Aquis, K18
Deal Size: Invests $1M to $3M in companies with more than $2M in sales.
Key Player: Rich Gersten, founder and managing partner
TSG Consumer Partners
Headquarters: San Francisco
Current Beauty Investments: Huda Beauty, Hempz, Zoeva, Makeup Revolution
Deal Size: Invests $200M to $800M in companies with between $100M and $1B in sales.
Key Players: Hadley Mullin, senior managing director, Colin Welch, managing director
VMG Partners
Headquarters: San Francisco
Current Beauty Investments: Briogeo, Necessaire, Perfect Diary, Musely, Hello Bello
Deal Size: Invests $10M to $150M in companies with $10M to 500M in sales.
Key Players: Robin Tsai, general partner, Alisa Williams, partner
Waldencast
Headquarters: New York and London
Current Beauty Investments: C16 Biosciences, Costa Brazil, Manual.co, Kjaer Weis, Salve, Stealth Beauty Company
Deal Size: Invests $1M to $20M in companies with between $2M and $40M in sales.
Key Player: Michel Brousset, founder and ceo
Windsong Capital Partners/Windsong Brands
Headquarters: Westport, Conn.
Current Beauty Investments: Lilah B.
Deal Size: Invests $3M to $30M in companies with sales between $3M and $10M.
Key Player: William Sweedler, ceo
Yellow Wood Partners
Headquarters: Boston
Current Beauty Investments: PPI Beauty: Freeman Beauty, Real Techniques, EcoTools, Isle of Paradise, Tan Luxe, Tanologist.
Deal Size: Invests $10M to $300M in companies with $20M and $250M in sales.
Key Player: Tad Yanagi, partner
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