The natural and organic cosmetics industry in Europe is thriving as consumers increasingly seek products made from safe, sustainable ingredients. Companies in this space range from small startups to major corporations, offering a variety of goods including skincare, haircare, and makeup with clean, eco-friendly formulations. With a focus on transparency and ethical sourcing, the industry is witnessing a shift toward organic certification and minimalist ingredient lists. Interestingly, studies show that market growth is fueled by millennials and Gen Z, who prioritize brands that align with their values of health and environmental stewardship, paving the way for stringent regulations and innovative product offerings.


The investors in this list represent a mix of corporate venture arms, private equity firms, and public entities scattered across Europe, primarily in fashion hubs like London and Paris. With investment sizes ranging from small startups to multinational firms, these investors have collectively executed numerous deals in 2024, reflecting a robust interest in the natural and organic cosmetics sector. Established from 1909 to as recently as 2016, these firms range significantly in size, with some spearheading 198 investments, which showcases their pivotal role in shaping the industry’s future.


Top 13 Natural and Organic Cosmetics Investors in Europe


1. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. Crowdcube promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions within the natural and organic cosmetics sector, including Faith in Nature, which raised $973,163 in July 2023, and Immaculate Vegan, which raised $383,776 in August 2023. Other relevant transactions include Doctor Jackson and Perfino, showcasing Crowdcube's commitment to supporting businesses in the natural and organic cosmetics industry.


2. Unilever Ventures

  • Website: unileverventures.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2002
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: unileverventures

Unilever Ventures is a corporate venture capital firm based in London, England, founded in 2002. The firm specializes in investing in emerging brands and technologies, particularly within the beauty and wellness sectors. They provide capital and leverage Unilever's extensive network to support startups in their growth journey. Notable transactions include investments in LXMI, a brand focused on natural skincare, and Kopari Beauty, which emphasizes coconut oil-based products. They have also invested in Plum, a brand that prioritizes clean and natural ingredients, showcasing their commitment to the natural and organic cosmetics market. In 2024, Unilever Ventures has already made 9 investments, indicating their active role in nurturing innovative consumer brands.


3. L'Oréal

  • Website: loreal.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1909
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: lor%c3%a9al

L'Oréal S.A. is a leading cosmetics manufacturer based in Paris, specializing in personal care products across various categories, including skin care, make-up, hair care, and perfumes. Founded in 1909, L'Oréal has a strong focus on innovation and sustainability. In recent years, the company has made significant acquisitions to bolster its presence in the natural and organic cosmetics market. Notable transactions include the acquisition of Thayers Natural Remedies in August 2020 for $400 million, which capitalized on the growing trend of clean beauty products. In 2018, L'Oréal acquired Logocos, a German vegan cosmetics firm, to enhance its focus on natural cosmetics. Additionally, the acquisition of Aesop in April 2023 for $2.53 billion further emphasizes L'Oréal's strategy to invest in high-quality brands that align with consumer demand for natural ingredients. These strategic moves demonstrate L'Oréal's commitment to expanding its portfolio in the natural and organic cosmetics sector.


4. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services including direct funding, export credit insurance, and private equity investments. The firm aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Bpifrance has been actively involved in the natural and organic cosmetics sector, with notable investments including WAAM Cosmetics, which raised €1.5 million in a Series A round, Maison Hädenn, which secured $974,938 in a Seed round, and La Bouche Rouge Paris, which raised over $11 million in a Series A round. Additionally, they participated in the acquisition of Lessonia, a manufacturer of cosmetic products, valued between €90 million and €100 million. These transactions highlight Bpifrance's commitment to supporting the growth of companies in the natural and organic cosmetics industry.


5. Unilever

  • Website: unilever.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1872
  • Headcount: 10001+
  • LinkedIn: unilever

Unilever PLC is a multinational consumer goods company based in London, England, founded in 1872. It offers a diverse range of products, including food, beauty, personal care, and cleaning agents, serving consumers globally. Unilever has a strong focus on sustainability, aiming to make sustainable living commonplace through its product offerings. In recent years, Unilever has made significant acquisitions in the natural and organic cosmetics space, enhancing its portfolio with brands such as Schmidt’s Naturals, known for its natural deodorants; Ren Skincare, which emphasizes clean beauty; Hourglass, recognized for its cruelty-free cosmetics; Paula's Choice, a premium skincare brand with a direct-to-consumer model; and Pukka Herbs, a leading organic tea brand. These acquisitions reflect Unilever's commitment to sustainability and its strategy to cater to the growing demand for natural and organic products in the beauty and personal care market.


6. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. In recent years, the EIC has made significant investments in companies that align with sustainable practices in the cosmetics industry. For instance, it provided funding to Kaffe Bueno, a Danish biotech startup that is constructing the world’s first coffee biorefinery to create environmentally friendly personal care ingredients from used coffee grounds. Additionally, the EIC supported UVera, a biotech startup that raised funds to develop a safe and eco-friendly sunscreen derived from cyanobacteria. These transactions highlight the EIC's focus on promoting innovation in natural and organic cosmetics.


7. Blue Horizon

  • Website: bluehorizon.com
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: bluehorizoncorp

Blue Horizon is a venture capital firm based in Zurich, Switzerland, founded in 2016. The firm is dedicated to investing in sustainable food systems and supports mission-aligned founders in the bioeconomy by providing funding and resources to scale innovative solutions. Their investment strategy focuses on alternative proteins and sustainable practices, catering primarily to entrepreneurs in the sustainable food sector. Notably, Blue Horizon has participated in funding rounds for companies like Chromologics, which raised €12.6M to commercialize Natu.Red, a natural red food color. This investment highlights their interest in natural ingredients that could also be applicable in the cosmetics industry. Additionally, they have invested in Geltor, a company known for producing bioengineered proteins, which may have applications in both food and cosmetics. These transactions demonstrate Blue Horizon's commitment to sustainability and innovation, making them a relevant player in the natural and organic cosmetics space.


8. Eurazeo

  • Website: eurazeo.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1969
  • Headcount: 201-500
  • Number of deals in 2024: 40
  • LinkedIn: eurazeo

Eurazeo is an investment management firm based in Paris, specializing in private equity, private debt, and real assets. Founded in 1969, the firm has established a strong presence in the investment management landscape, focusing on growth and expansion across various sectors, including technology and healthcare. In the realm of natural and organic cosmetics, Eurazeo has made notable investments, including the acquisition of Aroma-Zone, a leading online retailer of essential oils and natural beauty products, and a majority stake in Beekman 1802, a clean skincare company, for a total investment of US$62 million. Additionally, Eurazeo has participated in funding rounds for brands like Gisou, which focuses on haircare. These transactions highlight Eurazeo's strategic interest in the natural and organic cosmetics sector, reinforcing its role as a significant investor in this industry.


9. Agoranov

  • Website: agoranov.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 42
  • LinkedIn: agoranov

Agoranov is a startup incubator based in Paris, Île-De-France, founded in 2000. They specialize in supporting technology and science startups through personalized assistance, fully equipped facilities, and acceleration programs. With 42 investments in 2024 alone, Agoranov has a diverse portfolio that includes companies in various innovative sectors. Notably, they have invested in cosmetics-related startups such as Capsum, which focuses on innovative cosmetic solutions, and Skintifique, which develops skincare products. These transactions highlight Agoranov's engagement in the natural and organic cosmetics space, making them a relevant player in this industry.


10. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Among their notable transactions, Almi has invested in Minolei Cosmetics, which raised an undisclosed amount in a venture round on September 2, 2022. This investment highlights Almi's engagement in the natural and organic cosmetics sector. Additionally, they have been involved in various other transactions, such as NCP Olfactives and NCP Concept, although these are less directly related to the cosmetics industry. Overall, Almi's commitment to supporting SMEs, including those in the natural and organic cosmetics field, positions them as a relevant investor in this category.


11. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, specializing in the distribution of specialty chemicals and providing innovation services. Founded in 2001, Azelis serves over 63,000 customers across various sectors, including life sciences and industrial markets. The company has made significant strides in the personal care and cosmetics industry through strategic acquisitions. Notably, they acquired Ross Organic, a distributor in the personal care market, to bolster their presence in the Western US. Additionally, their acquisition of Chemical Solutions Sdn Bhd enhances their footprint in Malaysia's cosmetics market, particularly in the Halal sector. These transactions reflect Azelis's commitment to expanding its capabilities and offerings in the natural and organic cosmetics space.


12. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, but has also made notable investments in the beauty and natural products industries. Among their most relevant transactions is their extensive support for Glossier, a direct-to-consumer beauty brand that has raised significant funding across multiple rounds, including Series C, D, and E, with Index Ventures as a key investor. This involvement highlights their commitment to the beauty sector, particularly in the realm of modern, consumer-focused cosmetics. Additionally, Index Ventures participated in the funding of Abe's Market, an online marketplace dedicated to natural and organic products, showcasing their interest in the broader natural and organic market. Through these investments, Index Ventures provides capital and strategic support to entrepreneurs, helping them navigate the challenges of growing their businesses in the competitive beauty landscape.


13. Thg

  • Website: thg.com
  • Type: Corporate
  • Headquarters: Manchester, England, United Kingdom (UK)
  • Founded year: 2004
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: thehutgroup

THG plc, founded in 2004 and based in Manchester, England, is a digital e-commerce retailer specializing in beauty and nutrition products. The company operates through its divisions, THG Beauty and THG Nutrition, offering a wide range of cosmetics and dietary supplements directly to consumers. Notably, THG has made significant acquisitions in the beauty sector, including the purchase of Biossance for $20 million, a brand recognized for its sustainable plant-based squalane products. This acquisition followed Amyris's Chapter 11 filing and underscores THG's commitment to sustainability in beauty. Other relevant acquisitions include Illamasqua, a prestige cosmetics brand, and Cult Beauty, a leading beauty etailer, which further solidify THG's position in the luxury beauty market. Additionally, THG acquired DermStore, enhancing its digital presence in the beauty sector. These strategic moves reflect THG's focus on innovation and customer engagement, leveraging proprietary technology to enhance the shopping experience while expanding its portfolio of beauty brands, including those that align with natural and organic principles.



Natural and Organic Cosmetics Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
Unilever VenturesLondon, England, United Kingdom (UK)11-5020029
L'OréalParis, Île-De-France, France10001+19094
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
UnileverLondon, England, United Kingdom (UK)10001+18720
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Blue HorizonZurich, Zurich, Switzerland11-5020162
EurazeoParis, Île-De-France, France201-500196940
AgoranovParis, Île-De-France, France11-50200042
AlmiStockholm, Stockholm, Sweden201-50019947
AzelisAntwerp, Flanders, Belgium1001-500020015
Index VenturesLondon, England, United Kingdom (UK)51-200199667
ThgManchester, England, United Kingdom (UK)1001-500020041


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