Even though “compelling products” will definitely be a key element on the list The Fund III will also seek to invest in companies that have “a clear goal, ethical practices and a healthy, sustainable governance,” the company stated.
The early-stage fund for ventures Fireside Ventures has closed its third fund with a value of Rs. 1,830 million ($225 millions) which is more than double the amount of its previous fund. The fund will invest more in companies producing products that are marketed to India as well as other countries.
Fireside Ventures was started in the year 2017. It is managed by Kawaljit Singh Vinay Singh Kannan Sitaram, and Dipanjan Basu. The fund currently has assets under management of Rs . 3,000 crore. The fund is renowned for its investment in emerging brands like Vahdam, Slurrp Farm, Kapiva, 91 Cycles, Design Cafe, FS Life (erstwhile FableStreet), The Sleep Company, Gynoveda, Wellbeing Nutrition and Pilgrim. It also invests in the renowned Direct-to-Consumer unicorns like Mamaearth as well as boAt.
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Commenting on this development Kanwaljit Singh, the Managing Partner of Fireside Ventures, said, “Fireside Ventures was founded with a crystal clear idea to invest in the new generation of consumer brands which was beginning to witness radical shifts. After five years, we’re happy to see the amount of the change these bold new digital-first brands are bringing to the market and we look forward to witnessing them add even more value in the coming years.”
Even though “compelling products” will definitely be a major factor on the list The Fund III is also expected to look to invest in companies that have “a strong purpose, responsible practices, and healthy governance.”
The 3.0 version will include a variety of well-known Indian and international investors that will anchor it, such as those like Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield — Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures, as well as a variety of entrepreneurs who founded start-ups.
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