True Beauty Ventures Fund II

True Beauty Ventures

Status

ACTIVE

Global HQ

San Francisco, United States

Countries of investment

United States
Canada
United Kingdom

Investment stages

Seed
Series A
Series B

Industries

Beauty
Skincare
Cosmetics
Retail

About
True Beauty Ventures is a boutique sector-focused venture firm based in New York City, co-founded by industry experts Rich Gersten and Cristina Nuñez. The firm separates itself from generalist funds by applying decades of exclusive operational beauty experience and deep strategic networks to scale specialized makeup, skincare, and wellness startups.

Min check size: $1M
Max check size: $5M
Fund size: Unlock
NPS: Unlock

Investment Thesis

True Beauty Ventures operates with an exclusive investment thesis targeting Seed, Series A, and Series B opportunities strictly within the beauty, wellness, and personal care sectors. The firm looks for high-advocacy consumer brands with strong digital community foundations, clear product differentiation, and multi-channel wholesale or direct-to-consumer commercial potential.

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Manager's Experience

Cristina Nuñez (Co-Founder & Managing Partner) co-founded True Beauty Ventures in 2020 after a career at Tengram Capital Partners and Goldman Sachs; she has become one of the most respected specialist beauty investors globally, leading the firm's first investment in K18 Hair which was acquired by Unilever in 2023, returning approximately 80% of Fund I's capital. Rich Gersten (Co-Founder & Managing Partner) brings decades of beauty and consumer brand investing expertise from his prior role at Tengram Capital Partners and Catterton. The firm raised Fund I at $42M in 2021 and Fund II at $75M in 2024, with 20+ beauty brand investments.