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Referring to venture funds set up by Hollywood actors such as Ashton Kutcher, who invested in tech giants like Uber, Airbnb and Snap, Vijay Subramaniam, founder and group CEO of Collective Artists Network, said that the fund would look at connecting upcoming brands with its network of artists and creators that it manages.

The investment was made through L’Oréal’s corporate venture capital fund BOLD (Business Opportunities for L’Oréal Development), which takes minority stakes in high-growth companies and brands