Local Beauty Brand Colourette Scores $2-Million Funding from Singapore-Based VC Firm

Filipino cosmetics brand Colourette has raised $2 million (about P117 million) in its latest funding round—making it the first Filipino brand to secure an investment from one of the leading venture capital firms in Southeast Asia. The amount came from Singapore-headquartered DSG Consumer Partners (DSGCP).

“We recognize Colourette’s potential to become a major player in the local beauty industry, as it continues to reshape and strengthen the Filipino beauty community,” Sameer Mehta, managing director and head of Southeast Asia at DSGCP, said.

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The investment is deemed instrumental for Colourette’s expansion. Foxmont Capital Partners, one of the first to invest in the startup in 2022, emphasized how DSGCP's expertise “in scaling consumer brands will help unlock [Colourette’s] next phase of sustained and exciting growth. ” According to Colourette, it will utilize the funds to strengthen its presence in the market through the hiring of key talent and the introduction of more product innovations in the Philippines. 

Colourette was founded by Nina Ellaine Dizon in 2015. Since then, the brand has established itself as one of the go-to providers of makeup products “suited for the Filipino lifestyle.” Its palette features shades particularly made for the Filipino skin tones and the hot and humid Philippine weather—showcasing its commitment to inclusivity. Colourette is run by Niv Della Beauty Innovations, which handles beauty products under the Fresh Formula brand, too.

“Colourette and Fresh Formula celebrate the modern Filipino with each brand’s unique DNA,” Colourette COO Stephanie Tanjuatco said. “The company grew rapidly by recognizing untapped needs in the Philippine market; and I definitely believe [it] can achieve exponential growth, which this [funding] will help us achieve by amplifying our voice to reach more consumers.”