L’Or�al’s venture capital fund, BOLD, invests in Digital Village, a US startup focused on Metaverse & NFT marketplace
WEBWIRE – Friday, January 13, 2023
LOrals corporate venture capital fund BOLD (Business Opportunities for LOral Development) announces a minority investment in US-based startup, Digital Village, a metaverse-as-a-service platform and NFT marketplace for brands, creators, and communities.
This move marks the first venture capital investment by LOral in the metaverse & Web3 space. This investment is also the first made by BOLDs Female Founders initiative launched in 2022.
Led by an international team spanning the US, Europe, and Asia, Digital Village offers new, scalable technologies for the creation and interaction of digital identities and assets in virtual worlds. The company was founded in 2021 by Evelyn Mora, former digital & sustainability consultant for leading brands and founder of the sustainability-focused and fully digital Helsinki Fashion Week. Digital Villages Advisory Board counts founders and top executives from PANGAIA, The Sandbox, and Wave.
As LOral continues to explore and define what beauty means in Web3, we seek to work with the most promising startups who adhere to the highest possible visual and technical standards. We are excited to be partnering with Digital Village, whose solutions will be powerful enablers for our brands and whose ideals of sustainability, accessibility, and interoperability in the metaverse or Web3 are ones we share, said Camille Kroely, Chief Metaverse & Web3 Officer at LOral.
We are excited to be backed by BOLD and look forward to collaborating with LOral to revolutionize the beauty industry through the creation of cutting-edge virtual experiences for LOrals renowned brands. Together, we are setting the bar for beauty in the metaverse and Web3, pushing the boundaries of what is possible and setting a new standard for the industry to follow, said Evelyn MORA, Founder and CEO of Digital Village.
The Venture Reality Fund (VR Fund), a Silicon Valley-based tech VC firm specialized in VR and AR, co-leads this Seed financing round in Digital Village alongside BOLD.
For more information about BOLD (Business Opportunities for LOral Development): www.lorealboldventures.com
About LOral
For over 110 years, LOral, the worlds leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our LOral for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, LOral is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
[i”This press release does not constitute an offer of sale or solicitation of an offer to purchase LOral shares. If you wish to obtain more comprehensive information about LOral, please refer to the public documents registered in France with the Autorit des Marchs Financiers, also available in English on our website www.loreal-finance.com.[/i]This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.
Contacts at LOral
Individual shareholders and market regulators
Pascale GUERIN
+33 (0)1 49 64 18 89
Pascale.guerin@loreal.com
Financial analysts and Institutional investors
Franoise LAUVIN
+33 (0)1 47 56 86 82
francoise.lauvin@loreal.com
Media
Nolle CAMILLERI
+33 (0)6 79 92 99 39
Noelle.camilleri@loreal.com
Christine BURKE
+33 (0)6 75 54 38 15
Christine.burke@loreal.com
Switchboard: +33 (0)1 47 56 70 00
For further information, please contact your bank, stockbroker of financial institution (I.S.I.N. code: FR000012031), and consult your usual newspapers or magazines or the Internet site for shareholders and investors, www.loreal-finance.com, the LOral Finance app or call the toll-free number from France: 0 800 66 66 66.
Stephen Crystal announced today one of the first gaming opportunity investments in PLAYCALLER, a Client Partner of SCCG Management, offering strategic support and business development. The SCCG Venture Fund (“SCCG VF”), managed by Stephen Crystal, David Hanlon, Pierre Cadena and Dave Antony, is an alternative investment fund that focuses on increasing value and distributing profit through investing in gaming opportunities, targeting the best opportunities for Seed / Series A funding. The fund specializes in identifying the most innovative companies and founders that are involved in: About PLAYCALLER Play Caller Sports is planned as an innovative fan engagement platform that offers both fantasy sports and sports betting. It aims to reach the demographics of some of the most popular sports leagues like the National Football League, the National Basketball League, and the Major League Baseball. About SCCG Venture Fund 1 The SCCG Venture Fund 1 is an alternative investment fund that focuses on increasing value and distributing profit through investing in gaming opportunities. Opportunities include equity, debt, direct asset ownership, and revenue sharing opportunities. It offers the potential for higher than normal returns for the risk tolerant investor. About SCCG Management SCCG Management is a consultancy that specializes in sports betting, iGaming, sports marketing, affiliate marketing, technology, intellectual property protection, product commercialization, esports, capital formation, M&A, joint ventures, casino management, and governmental and legal affairs for the casino and iGaming industry.
Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal today said the Venture capitalists have played a pivotal role in India’s Startup story and in economic growth of the country. Addressing the Indian Venture and Alternate Capital Association’s (IVCA) Conclave, he said they have been driving innovation and bringing new ideas to the fore that is legendary.
“Venture capitalists and Angel investors have a very important role to play in the Startup ecosystem. I remember the Prime Minister had once said that the current decade is going to be the ‘Tech-ade’ of India. And this will be a decade where technology & innovation will drive the future of Indian economy, whether it is UPI or Covin. Today we are showing to the whole world what Indian capabilities are and how we can leverage digital platforms from mass transformation of the lives of a billion plus people,” said Shri Goyal, in his Keynote Address delivered through video conference.
Shri Goyal said the IVCA can act as a Golden bridge between the Government, Startups, market and consumers and promote innovation.
“India has carved a distinct niche for itself in the Startup map of the world. We have over 60,000 Startups and I see it as the DNA of the future of India,” he said.
Urging venture capital funds to reach out to the Tier 3&4 towns, Shri Goyal said the Startup Advisory Council recognises there is a large pool of talent in the interiors of India. Domestic capital can play a huge role in the next wave of innovation, he said.
“Atal Tinkering Labs are a good example. The whole ecosystem is going to grow by leaps and bounds. Soon ideas will choose what funds to take. Many good ideas have been taken over by small ticket cheques for lack of alternatives. We must seriously look at some kind of instruments and a little more compassion towards these ideas,” he said.
Shri Goyal urged the investors & capital providers to focus on 4Fs:
SCCG Venture Fund Makes Investment in Playcaller
– Sports wagering
– iGaming
– Esports gaming and wagering
– Sports data
– Affiliate solutions
– Venue managementVenture capitalists play a pivotal role in the Startup ecosystem and in economic growth of the country, says Shri Piyush Goyal
Shri Goyal said we are on the cusp of reaching the $400 bn merchandise exports mark.
“I wish our Startups contribute significantly as we move towards a trillion dollars of Goods and Services exports each,” he said.
Shri Goyal said the Startups will play a defining role in the Amritkaal i.e next 25 years, when India completes 100 years of its Independence.
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(Release ID: 1804587)
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