Ulta Beauty Launches Fund Demonstrating Corporate Venture Capital Sustainability

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Over the past Over the years, corporate venture investors have solidified their status as a reliable source of venture capital funding. Number of companies launching investment units, explodedand the volume of new funds continues to grow despite the current market volatility.

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Ulta Beauty, the largest beauty salon chain in the US, was the latest company to launch a venture arm this week. Prisma Ventures will provide a $20 million fund to support early stage companies that can improve the online or in-store shopping experience for Ulta customers. Prama Bhatt, chief digital officer at Ulta, said that after years of in-house technology development, the venture fund seems like the next step to spur innovation at the company.

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“If we think about our goal, which is to shape the future of the beauty landscape, it seems appropriate to continue that vision by working with startups,” Bhatt told TechCrunch.

Ulta is the latest corporate venture fund launched this year. Consumer-oriented companies, including Home Depot as well as Chipotle also announced funding this year, while corporations ranging from drug wholesalers AmerisourceBergen to a defense consulting firm Booz Allen Hamilton funds also debuted. These four funds alone bring in $450 million.

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Credit: techcrunch.com /

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