The feminine care industry is on the brink of transformation thanks to a partnership between Compass Diversified, a leading investment firm, and The Honey Pot Company, a Black-owned line of plant-based feminine care and wellness products.
The $380 million deal cements The Honey Pot Company’s place at the forefront of efforts to revolutionize feminine care and make holistic wellness solutions more accessible, Essence reported.
The personal care company co-founded by CEO and Chief Innovation Officer Beatrice Dixon has grown rapidly since she started it over a decade ago in her kitchen.
This landmark deal was facilitated by the work of Richelieu Dennis and the New Voices Fund. The fund initially invested in The Honey Pot Company in 2018, providing critical access to capital and expertise.
With only 0.2% of VC funding going to women of color entrepreneurs, the New Voices Fund is fulfilling Dennis’ vision of empowering women founders. Essence noted Dennis’ statement from a previous press release, “Entrepreneurship among women of color has increased 322%, but only 0.2% of those women receive access to the funding needed to sustain and grow their businesses. Black women raised just 0.0006% of the total $424.7 billion in tech venture funding since 2009. This is unacceptable.”
“It is why the Fund is focused on making equity investments and creating an ecosystem that empowers women of color entrepreneurs to reach their full potential by addressing three of the most pertinent issues preventing their long-term success—access, capital, expertise.”
The Compass investment will propel Dixon’s mission to get quality feminine wellness products “in more hands.” Most importantly, her journey stands as inspiration.
“No matter where you are and what you do, who you have been and who you think you have to be, you can always begin somewhere,” Dixon said, according to Essence
. She emphasized the importance of having the courage to build something from your passions and ideas.“That feeling you get that makes you want to share, to build, to feel compelled to create, follow that,” Dixon told Essence. “The feeling that makes you want to go, and whatever it may take to help you touch that—no matter how frivolous, how big, how bold, or silly it may seem: now, more than ever, you need to take that seriously.”
The Honey Pot Company stands poised to ignite positive change—from revolutionizing feminine care to inspiring entrepreneurs everywhere.
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