L'Oréal has announced the launch of its BOLD Business Opportunities for L'Oréal Development, a corporate venture capital fund that will take minority stakes in innovative startups with high growth potential. The fund will invest in new business models in marketing, R&I, digital, retail, communication, supply chain and packaging and support the startups with L'Oréal's expertise, networking and mentorship. The fund connects the group to a global ecosystem of startups and includes partnerships with Founders Factory, Partech International Ventures, Station F and Raise Ventures.

The fund will make its inaugural investment with the acquisition of a minority stake in Sillages Paris, a French startup offering an online service to create customised fragrances based on artificial intelligence and machine learning. L'Oréal will support Sillages Paris, under the direction of its founder Maxime Garcia-Janin, with its expertise in marketing, research, digital and retail.

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