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Fireside Ventures closes its third fund at $225 million

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  • Fireside Ventures, a venture capital fund, currently manages ₹3,000 crore ($395 million) from AUM.
  • It has supported consumer brands such as unicorn Mamaearth, boAt, Vahdam, Slurrp FarmKapiva, 91 Cycles just to name a few.
  • The third fund will invest in 25-30 digital-first consumer startups.

Fireside Ventures, an early stage venture capital fund, said it has closed its third fund after raising ₹1,830 crore ($225 million).

Fireside Fund III is anchored by investors such as Self-Reliant India Fund, Dubai Investment CompanySBI, Premji InvestWaterfield – Fund of Funds, ITCemami, Sharp Ventures and several start-up founders.

The fund is known for its investments in digital-first consumer brands. It said its third fund will invest in 25-30 D2C startups in the health and wellness, edutainment, lifestyle and FMCG sectors.

“Fireside Ventures was founded with a very clear vision to invest in the next generation of consumer brands, a space that witnessed the dawn of disruptive change. Five years on, we are excited to see the magnitude of change these brave new digital-first brands are creating, and we look forward to seeing them create even more value in the future.” Kanwaljit Singhmanaging partner, Fireside Ventures said.

The D2C brand market in India will reach $100 billion by 2025.

Fireside Fund also said it will look for brands with strong purpose, responsible practices and sound governance.

Fireside Fund was the first institutional investor in 75% of its 31 portfolio companies. Moresomore than 50% of them were founded or co-founded by women, it claims.

Fireside Funds I and II have invested in Mamaearth personal care unicorn and IPO bonded boat. The portfolio includes Vahdam, Slurrp Farm, Kapiva, 91 Cycles, Design Café, FS ​​Life (formerly FableStreet), The Sleep Company, Gynoveda, Wellbeing Nutrition and Pilgrim.

Launched in 2017, Fireside Ventures currently manages assets amounting to ₹3,000 crore or $395 million.

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