In the past Over the years, corporate venture capital investors have established themselves as a reliable source of VC funding. The number of companies that have opened investment instruments has exploded, and the volume of new funds has increased due to the current market dynamics.
Ulta Beauty, the largest chain of beauty stores in the US, became the latest company to launch a venture arm this week. Prisma Ventures will use $20 million in funding to support early-stage companies that have the potential to improve the online or in-store shopping experience of Ulta customers. According to Prama Bhatt, Ulta’s chief digital officer, after years of developing technology internally, the venture fund seemed like the next step in fostering innovation at the company.
“Given our mission, which is to shape the future of the beauty landscape, it seems appropriate to continue that vision by working with startups,” Bhatt told TechCrunch.
Alta is the latest corporate venture fund to launch this year. Consumer-focused companies The Home Depot and Chipotle have announced funds this year, while corporations ranging from drug distributor AmerisourceBergen to defense consulting firm Booz Allen Hamilton have issued funds. These four funds bring $450 million to the table.
