Selva Ventures raises US$34m to invest in health and wellness businesses

The US venture capital firm Selva Ventures has announced the successful closing of its second fund of US$34m to support health and wellness consumer brands.

The firm has confirmed it received backing from Unilever Ventures, PagsGroup and Obelysk, highlighting an investor base that includes a number of investors across the consumer products and professional sports industries.

Launched in 2019 with a US$10m first fund, Selva Ventures has invested in companies including the sexual wellness brand Cake.

The firm says it focuses on Seed and Series A start-ups with proven early momentum, supporting their traction with capital and resources across finance, operations and retail partnerships.

“Health and wellness is a powerful driver of the consumer economy,” said Kiva Dickinson, founder and managing partner of Selva Ventures.

“We believe that by supporting brands that offer new and engaging products we can simplify and enhance the way people lead healthier lives. Our goal and mission is to make healthier living more accessible, affordable and enjoyable.”

As the firm expands its capital base, it aims to diversify its areas of focus, with a particular emphasis on the beauty and personal care sector.

Madeline Kaplan, principal at Selva Ventures, said: “Beauty is an incredibly emotional category, where both brand and product innovation are crucial.

“We aim to support emerging brands that provide innovative products that resonate emotionally with consumers, ultimately making self-care easier, more affordable, and more enjoyable.”

In line with this strategy, Selva Ventures has led investments in the skincare company OneSkin and luxury haircare brand Crown Affair. Over 50 per cent of its portfolio companies to date have female or minority founders.