Shiseido to support new businesses with new internal venture capital organisation

As part of the company's Open Innovation scheme, cosmetics firm Shiseido Company intends to form new internal venture capital organisation Shiseido Venture Partners to provide support for new businesses.

The scheme is intended to develop new beauty products and services using other company's technologies and ideas.

Shiseido aims to enhance its mid to long-term business strategy through venture investments and Shiseido Venture Partners will focus on assessing and choosing target ventures with business assets, evaluating the precise amount of investment.

Siseido  Venture  Partners  will  also  aim  at  talent  development  by  allowing  the employees involved in its operation to experience and understand the managerial mindset and approaches distinctive  of  the  venture  industry.

Shiseido has announced Dricos will be its first venture investment.