Gurugram-based Fluid Ventures on Thursday announced the first close at Rs 25 crore of its Rs 80 crore fund that will invest in 15-18 emerging direct-to-consumer (D2C) brands in the next few years.
While it did not disclose the names of the investors, Fluid Ventures announced the first close of the fund at Rs 25 crore.
The early-stage micro venture capital fund has a total corpus of Rs 80 crore (including Green Shoe option), slated for investment in direct-to-consumer (D2C) brands in food and beverages, beauty, personal care, lifestyle, and home products, a statement said.
The fund will be invested in 15-18 emerging brands over the next three years by participating in seed, pre-series A, and Series A rounds with a cheque size of up to Rs 4 crore and follow-up rounds, it added.
The fund is expected to make its first investment later this month.
‘Direct to consumer is the next big wave in India. Right now, there are very few funding options available in the market for this sector. With this corpus from Fluid Ventures, we want to bridge that gap by facilitating investment in D2C brands,’ Fluid Ventures General Partner Amit Singal said.
Fluid Ventures is a SEBI registered Alternative Investment Fund Category 1 –VCF.
‘Currently, India has one D2C unicorn startup, while there are 20 such startups in the world right now. With this initiative, we hope to open the playing field for more such success stories and encourage large investors to back startups the way they do so in the equity market,’ Fluid Ventures General Partner Dhianu Das said.
Fluid Ventures’ advisory board includes Manish Aggarwal (co-founder for Startup Buddy), Prashant Narang (co-founder for Agility Ventures), Chittransh Verma (India Partner Arc Group), Rakhee Singal (Compliance Officer, Startup Buddy), and Divij Bajaj (CEO, Power Gummies).
Categories: Venture Capital