Half Magic, a vegan color cosmetic brand from Euphoria makeup artist Donni Davy, has closed an investment round from Alliance Consumer Growth, with participation from A24, Imaginary Ventures and Access Entertainment.
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Funds will support the brand's brick-and-mortar U.S.-wide retail debut later this year. Half Magic is currently projecting 300% year-over-year growth for 2023.
“Half Magic is the answer to countless DMs asking me how to layer glitter and color,” said Davy. “I wanted to provide fun, user-friendly products and tools all in one place for people to not just create the looks I’m known for, but also to bring a little sparkle and joy into every day.”
“It's incredibly fulfilling to witness our iconic, viral products like Magic Flik liquid eyeliner pen and the wing guide makeup tool, Wing Magician, attracting new Gen-Z users across digital platforms by actually making makeup easier,” said Michelle Liu, general manager of Half Magic. “As we envision the future, the unique range of shades and remarkable versatility of our products will continue to fuel captivating content creation and engagement. We are thrilled that our trusted investment partners share our unwavering belief in the power of our products. With their invaluable support, we are poised to spread a touch of magic around the world, expanding from D2C to the world of retail (where our fans will be able to test products in person) for the first time, all the while ensuring that everyone's makeup bag always holds a sprinkle of enchantment.”
“We are thrilled to be part of this exciting era in the makeup and beauty industry, and we take immense pride in backing Half Magic," said Julian Steinberg, managing partner of ACG. "The brand sets a new standard for excellence, surpassing others in the industry by offering unparalleled formulas at an incredible value and the ability to resonate with trending demographic forecasts. It is with great enthusiasm that we join forces with the exceptional management team to revolutionize Gen Z beauty and become this generation’s leading artistry beauty brand. Together, we aim to disrupt the market and redefine what it means to express oneself through makeup.”
