Fireside Ventures announces third fund at ₹1,830 cr.
The Hindu
Bengaluru
Fireside Ventures, an early-stage venture fund investing in digital-first consumer brands, announced the close of its third fund at ₹1,830 crore, double the size of its previous fund.
Fund III would invest in 25-30 start-ups and consumer brands focused on health and wellness, edutainment, lifestyle, FMCG and others. Brands with a strong purpose, responsible practices, and healthy governance would be on the lookout for the fund, the company said.
The fresh fund is anchored by new and existing Indian and global investors including, Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield - Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures and several start-up founders, according to the company.
Kanwaljit Singh, Managing Partner, Fireside Ventures said, “Fireside Ventures was created with a very clear vision to invest in the next generation of consumer brands, a space that was witnessing the start of disruptive changes.”
According to data provided by the company, the market for D2C brands in India is set to touch $100 billion by 2025. Over the last few years, D2C brands have almost re-defined the marketing landscape.
