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Magic Molecule, a New York-based skin care company, has secured an investment from NexPhase Capital, CEO Justin Kerzner tells Axios.

Why it matters: Private equity continues moving into beauty as strategics like Unilever and Estée Lauder stand on the sidelines.

How it works: Magic Molecule says its hypochlorous acid skin care spray replicates the body's natural hypochlorous acid. The spray removes bacteria and calms skin to treat a range of conditions like acne, sunburns, eczema and rashes, it says.

Between the lines: While competing skin care companies offer multiple products, Magic Molecule only offers its spray, as a second product is slated for September.

Zoom in: Terms of the investment were not disclosed, but NexPhase typically invests $40 million to $225 million, Kerzner says.

Kerzner says NexPhase became interested in skin care after buying out Tubby Todd, a baby personal care product line focused on sensitive skin conditions, in 2022.

What's next: Beyond skin care, the company wants to broaden hypochlorous acid applications into surface disinfecting, oral care, and commercial spaces. Kerzner says there is an EPA-approved surface disinfectant in the works.

"The long-term goal is to sit next to Red Bull on the Formula One track," Kerzner says. "They're a single SKU business that's added plenty of extensions."

Magic Molecule expanded from DTC into Target, Ulta and Amazon in the past year.

State of play: Skin care remains a bright spot even as broader beauty and wellness PE activity remains sluggish.

Recent deals include L'Oreal's $1.1 billion acquisition of Medik8, and DUDE Wipes' growth round, which was led by TSG Consumer, per PitchBook.

Exclusive: NexPhase backs skin care company Magic Molecule

The deal continues private equity's activity in the beauty sector.

illustration of a dollar bill with george washington wearing a blue clay face mask and cucumber slices over his eyes

Magic Molecule, a New York-based skin care company, has secured an investment from NexPhase Capital, CEO Justin Kerzner tells Axios.Why it matters: Private equity continues moving into beauty as strategics like Unilever and Estée Lauder <a class="gtmContentClick" data-vars-link-text="stand on the sidelines" data-vars-click-url="https://www.axios.com/pro/all-deals/newsletters/2025/06/18/thought-bubble-beauty-backlog" data-vars-content-id="8cd4b265-f0f4-4aee-960b-81b20caa2e6a" data-vars-headline="Exclusive: NexPhase backs skin care company Magic Molecule" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/all-deals/newsletters/2025/06/18/thought-bubble-beauty-backlog" target="_self">stand on the sidelines</a>.

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Exclusive: NexPhase backs skin care company Magic Molecule

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