THE WHAT? Venture capital firm, KD Capital, has invested US$12 million in FounderSix. The funds will be used by the beauty brand incubator to introduce new influencer-led beauty brands to the market.

THE DETAILS The news follows the launch of FounderSix’s third. Ravie Beauty, a new makeup company created with YouTuber Allie Glines, achieved one year of projected sales in the first thirty minutes of going live. 

THE WHY? Lewis Cheng, Managing Partner of KD Capital, said, “Our investment in FounderSix is a testament to our trust in Oli and Pieter’s leadership. Their guiding principle of investing in people, not just ideas, resonates deeply with us. Both have a fantastic talent for creating exciting new brands from scratch and their proven track record makes us very excited to support their vision into the future.”