THE WHAT? Shiseido has announced the launch of a new venture fund. Shiseido Long Term Investments for the Future (LIFT) Ventures, as the new fund has been named, will be a vehicle for investing in innovative early-stage companies within the beauty wellness space.

THE DETAILS The fund’s inaugural investments will be in Phi Therapeutics, a pioneer in bacteriophage technology, and men’s grooming brand, Patrick Kidd Holdings. LIFT Ventures will be based in New York City and headed up by Ron Gee.

THE WHY? Masahiko Uotani, Chairman and CEO of Shiseido, reveals, “The creation of LIFT Ventures represents a new opportunity to partner with organizations focused on creating pioneering beauty wellness solutions and to gain further insights and access for Shiseido’s growth ambitions. LIFT Ventures presents a welcome opportunity to build knowledge, create value, and ultimately, achieve meaningful progress for all.”