The fund, called BrainTrust Founders Studio, invests in Black beauty and wellness companies.
Newby scouts for the BrainTrust Founders Studio, which helps fund Black founders of beauty and wellness brands, incubate, and scale their businesses.
"That would not have been enough time for a brand to to basically create an entire slugging product," Newby said.
"I believe, contrary to many, that red carpet and Fashion Week beauty trends still drive a lot," Newby said.
Black skincare brands are evolving their formulas, and will lead the clinical skincare industryAs an investor in Black founders, Newby has noticed that Black skincare brands are developing more advanced formulas.