(Ecofin Agency) - In a release published on September 21, 2018, L'Oréal S.A. informed that it has invested in Partech Africa, a venture capital fund created in 2018 and dedicated to innovative technology companies in Africa.

Thanks to that investment whose volume was not revealed, L'Oréal S.A expects to “forge partnerships with start-ups and entrepreneurs active in the development of innovative products and services that facilitate access to consumers located in remote areas or informal environments”, the release informed.

According to Alexandre Popoff (photo), Executive Vice-President Eastern Europe and Africa, Middle East, With Partech Africa, L'Oréal S.A. wants to support “talented entrepreneurs who invent new technologies in all areas, distribution, and consumption”.

“L'Oréal is very happy to contribute to the development of young companies in Africa and to seize what is starting”, the manager added.  

Let’s note that apart from the current investment, L'Oréal S.A had invested in venture capital funds such as Partech International Ventures, Founders Factory and Raise Investissement.