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New Voices and Shea Moisture Founder Richelieu Dennis Invests $1 Million in Beauty Startup NaturAll Club

New Voices and Shea Moisture Founder Richelieu Dennis Invests $1 Million in Beauty Startup NaturAll Club

 

Photo: Uli Seit

Richelieu Dennis, the co-founder of Sundial Brands (known for brands such as Shea Moisture and Nubian Heritage) believes in investing in Black women entrepreneurs. So much so, that he launched a $100 million New Voices Fund for women of color entrepreneurs after making Essence 100% Black-owned again. He also purchased Madam C.J. Walker's 34-room mansion with a vision to turn it into a training center for Black women business leaders. 

Within a few months of launching the fund in 2018, $30 million had already been invested or committed to Black women entrepreneurs. Now, the founder of NaturAll Club, Muhga Eltigani, can add her name to that growing list as she announced via social media that Dennis has invested $1 million in her natural hair care line.  

"What’s cooler than having Rich Dennis, founder of one of the largest beauty brands, Shea Moisture, say that @naturallclub will become the next big thing in beauty? Having him invest $1M to help you do it," Eltigani wrote in an Instagram post. "Welcome to the team, Rich! I’m humbled that you selected us as your first haircare product investment."  

After consistently experiencing dry and brittle hair from using commercial hair products, Eltigani started creating her own hair products in her University of Pennsylvania dorm room. Making her first avocado deep conditioner in 2012, Eltigani went on a three-month haircare journey using only fresh and natural ingredients such as avocado, mangos, and shea butter.  


Photo: Micaiah Carter

"Those three months turned into three years, 32 inches of growth, and a YouTube following of 40,000," said Eltigani on her website. "In 2016, I launched NaturAll Club to share my products with my community." 

The beauty entrepreneur, who chose to forego law school and invest $18,000 of her personal savings to launch her entrepreneurial dreams, now hopes to turn NaturAll Club into a billion-dollar company. She told Inc., "With the population changes, there are more minorities in America who are going to be looking for more products. I don't see why I can't be the next L'Oréal."

With Dennis' recent investment, Muhga Eltigani is well on her way.