Last summer, Shea Moisture founder Richelieu Dennis announced a $100 million fund for women entrepreneurs of color. The $100 Million New Voices Fund was created to empower women of color entrepreneurs to reach their full potential.
Now, it seems the fund has made its first investment. Black owned natural hair care line NaturAll Club recently announced that they will be the recipients of a $1 Million dollar investment from Mr. Dennis.
A week ago, NaturaAll Club founder and CEO, Muhga Eltigani, made the announcement on her Instagram page.
“What’s cooler than having Rich Dennis, founder of one of the largest beauty brands, Shea Moisture, say that @naturallclub will become the next big thing in beauty?……
Having him invest $1M to help you do it….
Welcome to the team, Rich! I’m humbled that you selected us as your first haircare product investment.”
Congrats to the NaturAll Club team and salute to Richelieu Dennis for investing in Black business owners!
Click here to learn more about the New Voices Fund.
-Tony Oluwatoyin Lawson (IG@thebusyafrican)