igniteXL Ventures closes debut fund to target ‘$5T oversight’ in beauty, wellness

This news story originally appeared at Google News - Search on 10 November 2021

IgniteXL Ventures, a fund founded by general partner Claire Chang, closed on its first fund of $10 million aimed at backing diverse early-stage founders in the beauty and wellness industry. It was while working with the accelerator that she noticed a gap in funding between angel and seed, observing the frustration female founders felt with the lack of female VCs and with male investors who were not experienced in investing in the beauty and wellness industry. “This is a $5 trillion market opportunity that is hugely overlooked,” she told TechCrunch.