Net-a-Porter founder Natalie Massenet has teamed up with a venture capitalist to launch a $75m (£52.2m) fund for retail businesses.
Imaginary Ventures, co-founded by Massenet and Nick Brown, has now closed its first $75m fund, and will invest in early stage businesses at the intersection between retail and technology.
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“I’ve felt for a while that I wanted to apply the brand-building experience and network I’ve gained over my career to today’s evolving retail landscape," commented Massenet. "The most effective route to do that was to partner with and invest in this emerging generation of entrepreneurs challenging the retail status-quo across every vertical."
At launch, the fund is investing in Farfetch, of which Massenet is co-chair, as well as cult beauty brand Glossier, Khloe Kardashian's denim line Good American and pop-up shop marketplace Appear Here, among others.
Emily Weiss, founder and chief executive of Glossier, said: “I'm incredibly excited to be working with two visionary investors, Nick and Natalie. In addition to Net-a-Porter, Natalie has done incredible talent development work with the British Fashion Council. I've also had the pleasure of working with Nick years ago and he's a clear expert in direct-to-consumer.
"Between their expertise, vision, and proven ability to find and develop talent, they're going to knock it out of the park with Imaginary Ventures.”