Beauty / news
Half Magic Beauty Raises Series A Led by Point King Capital
Donni Davy's color cosmetics brand Half Magic Beauty has closed a Series A round led by Point King Capital, with existing investors A24, Access Industries and ACG joining. Proceeds will fund retail expansion, new product categories and team growth.
Financial terms of the round were not disclosed. The capital is earmarked for deepening the brand's retail footprint, moving into additional product categories and hiring as the company enters a new phase of growth, according to chief executive officer Mike McNeil. Half Magic currently employs roughly 25 people.
Founded in 2022 by Emmy Award-winning makeup artist Donni Davy alongside entertainment company A24, the brand emerged from the following Davy's makeup work generated for HBO's "Euphoria." The series wrapped its three-season run with nine Emmy wins and 32 nominations overall.
Half Magic has since moved beyond its ties to the show, securing distribution with Ulta Beauty in the United States, Sephora in the United Kingdom and Mecca across Australia and New Zealand.
Davy described the funding as the brand's biggest milestone to date, pointing to a engaged customer base, a growing roster of award-winning products and an international presence. She said the brand occupies a sweet spot in which loyal fans actively promote its products to new consumers.
A24, Access Industries and ACG, all existing backers, took part in the round alongside lead investor Point King Capital.