True Beauty Ventures will invest up to $5 million in businesses with at least $2 million in revenue. Sources said True Beauty Ventures will be raising a fund.
Cristina Nuñez will join the firm as a partner to help run True Beauty Ventures.
“This will be the fourth time Rich and I have worked together in the past 10 years,” said Nuñez in a statement, adding that she hopes to help emerging businesses scale into successful, resilient and long-lasting beauty brands. Gersten said Nuñez’s “combination of beauty investing and operating experience are the perfect fit for what we are trying to build at True Beauty Ventures.”
Before joining the firm, Nuñez was general manager and chief operating officer of Clark’s Botanicals, a clean skin-care brand. She also worked at Laura Geller and before that, developed new business opportunities for Equinox. She also worked at Tengram Capital and L Catterton, where Gersten worked as well.
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