The big learning for us is that there is a significantly growing interest and a larger pool of capital in India for funds like us,” added Singh, whose firm did the entire fundraising in a period of 6-7 months.įireside is betting big on market for D2C brands in India which is set to touch $100 billion by 2025. “It is a mixture of family offices, corporates and financial institutions and sovereign funds. Over 90 per cent of the third fund is domestic money,” said Kanwaljit Singh, Managing Partner, Fireside Ventures, in an interview. “What is exciting is that we saw significant demand from domestic capital in terms of the investors that have come in. This is double the size of its previous fund which had a corpus of Rs 863 crore, and the first fund had a corpus of Rs 350 crore.įireside Fund III is anchored by new and existing Indian and global investors which includes, 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. Besides Fireside, Backsoil and Kettleborough VC have announced their new fund in October so far.Fireside Ventures, an early-stage venture fund investing in digital-first consumer brands, said that it has closed its third fund at Rs 1,830 crore ( $225 million). In August, Fundamentum, Stride Ventures, Merak Ventures and Cactus Ventures announced their new funds whereas September saw only a couple of fund launches including Elev8 Venture Partners and StartupXseed, according to Fintrackr ’s data. Vahdam, Yoga Bar, Samosa Singh, SLAY Coffee, Design Café, Bombay Shaving Company, Pipa Bella, Azani, Smytten, Traya, The Sleep Company, 10Club, Wellbeing Nutrition, Pilgrim, Fitterfly, and Slurrp Farm are notable startups funded by Fireside Fund I and Fund II.ĭata compiled by Fintrackr shows that more than 90 VCs, PE, and debt funds had announced their new fund launch as of July. Its 31 investments also include unicorns and IPO-bound startups: boAt and Mamaearth. This fund is anchored by new and existing Indian and global investors which include, Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield-Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures, and some startup founders.Īccording to Fireside, the fund has been the first institutional investor in 75% of its portfolio companies. In January 2021, Fireside announced the close of its second fund at $118 million.įireside Fund III will invest in 25-30 startups with a focus on health and wellness, edutainment, lifestyle and FMCG (fast-moving consumer goods).
Early-stage consumer-focused venture capital fund Fireside Ventures has announced the final close of its third fund at $225 million.
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