LG H&H invests $3.7 mn in K-beauty fund

LG Household & Health Care’s headquarters located in the LG Gwanghwamun Building, Jongno-gu, Seoul. [Courtesy of LG H&H Co.]

South Korean beauty giant LG H&H Co. announced on Monday that it has invested 5 billion won ($3.7 million) in a fund dedicated to K-beauty startups.

The Mark-Solid One Beauty Intelligence Fund No. 1 is a venture fund established by startup investment firm Mark & Co. and Solid One Partners, with a total fund size of 10 billion won.

LG H&H contributed half of the fund‘s capital with an investment worth 5 billion won.

LG H&H said its investment is to nurture emerging beauty startups with strong growth potential, laying the groundwork for shared growth.