Cheekbone Beauty picks up $350k from Raven Indigenous Capital Partners
Raven Indigenous Capital Partners launched earlier this year and has already invested in 3 businesses, including Cheekbone Beauty Cosmetics. The firms’ other investments are in a blockchain and Fin Tech business called One Feather Mobile and in an indigenous tech and digital media company called Animikii Inc.
Now this week, “Raven is excited to announce our investment in Cheekbone Beauty, an Indigenous cosmetics company with a social mandate,” according to a blurb on the firm’s site (linking to the media release announcing the deal).
When brand and investor values align
“There is nothing more empowering than someone believing in the vision of your brand as much as you do,” Jenn Harper, founder and CEO of Cheekbone Beauty Cosmetics, tells the press.
“It is life changing,” she says, adding that, “I’m really looking forward to our new relationship with Raven Capital so that I can scale Cheekbone Beauty Cosmetics with confidence. This is a product with a mission!”
The brand Harper founded in 2016 reaches consumers across Canada, the US, and Australia; and Cheekbone Beauty has amassed an impressive numbers of social media followers as well (nearly 40 thousand on Instagram alone); which is not surprising given the community focus and social mission of the brand: “Cheekbone Beauty was founded in the belief that we can all make a difference. To help break the generational educational crisis Canadian Indigenous youth face, 10% of Cheekbone’s profits are donated to Shannen’s Dream.”
And this week’s media release from Raven Indigenous Capital Partners calls attention to the importance that meaningful and ethical brands like Cheeckbone have in the contemporary marketplace, saying, “This is part of a generational shift to organic, locally made, artisanal brands that have a compelling, mission-aligned narrative for young consumers.”
Where the beauty business and indigenous economies meet
Cheekbone Beauty is a color cosmetics brand. The product portfolio thus far comprises lipsticks, lip glosses, brow gel, and contour kits. This product line in conjunction with Harper’s active role as a public speaker and advocate for First Nations people are a strong foundation for brand growth, as Raven Indigenous Capital Partners believes.
“Cheekbone will achieve sustained traction in the marketplace, this is another exciting example of the innovation emerging out of Indigenous communities,” says Jeff Cyr, managing partner of the firm. “We have a shared vision towards building economic reconciliation in Canada. It’s inspiring Indigenous entrepreneurs like Jenn Harper, driving systemic change and building dynamic and resilient Indigenous communities.”
And Carol Anne Hilton, CEO of Indigenomics Institute (an economic advisory working at the intersection of indigenous communities and modern economies) seems to agree: “Cheekbone Beauty is a real time demonstration of Indigenomics in action! Combining purpose, meaning and Indigenous resilience - this company is going places,” Hilton says in this week’s media release, adding that, “Indigenous entrepreneurial success bolstered by the entrance of Indigenous controlled capital in the market through Raven Capital is how success will be built in our communities.”
Deanna Utroske writes regularly about socially conscious beauty ventures.
As CosmeticsDesign.com Editor, she covers all variety of beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.