Venture Capital Firm Fireside Ventures Plans To Invest in Indian Startup

The venture capital firm Fireside Ventures announced the completion of its third fund on Wednesday, raising USD 225 million, or Rs 1,830 crore, which it intends to invest in Indian entrepreneurs over the following ten years.

“At USD 225 million, or around Rs 1,830 crore, we have closed down Fund III. According to the Fireside thesis of digital-first consumer brands across the spectrum of health and wellness, edutainment, lifestyle, and FMCG, we intend to invest Fund III in 25–30 startups” said Kannan Sitaram, Partner at Fireside Ventures.

By 2025, the market in India for direct-to-consumer brands is anticipated to reach $100 billion USD, according to Fireside Ventures.

31 brands including The Baker’s Dozen, boAt, Mamaearth, Bombay Shaving Company, etc., have received investment from Fireside Ventures.

“The first fund had a corpus of 340 crore rupees, the second fund, 863 crore rupees, and the third fund, 1,830 crore rupees. We completed 31 agreements in the first fund that were exclusively for consumer brands with digital capabilities. Given that more Indians are looking to shop online, we anticipate the digital market to keep expanding” said Sitaram.

He said that 7-8 of Fireside Ventures’ 18 investments from FUND I are currently profitable.

Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield – Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures, and other startup founders are among the fresh and seasoned Indian and international investors that support Fireside Fund III.