Fireside Ventures

Venture capital firm Fireside Ventures on Wednesday announced closing of its third fund at USD 225 million or Rs 1,830 crore, which it plans to invest in Indian startups over a period of the next 10 years. The new fund is double the size of its previous fund. "We have closed out Fund III at USD 225 million which is about Rs 1,830 crore. We plan to invest Fund III in 25-30 startups in keeping with the Fireside thesis of digital-first consumer brands, across the spectrum of health and wellness, edutainment, lifestyle and FMCG," Fireside Ventures Partner Kannan Sitaram said here. According to Fireside Ventures, the market for D2C brands in India is set to touch USD 100 billion by 2025. Fireside Ventures has invested in 31 brands that include The Baker's Dozen, boAt, Mamaearth, Bombay Shaving Company etc. Launched in 2017, Fireside Ventures with the close of its Fund III has Rs 3,000 crore (USD 395 million) of assets under management. "The first fund had a corpus of Rs 340 crore and

Fireside is betting big on market for D2C brands in India which is set to touch $100 billion by 2025

The funds raised will be used to increase Diabefly's reach, their digital therapeutics and clinically-proven programme to prevent, manage and reverse diabetes

Gaurav Agarwal, co-founder of Nat Habit, said that the firm has been able to build the brand primarily using its own website, with just 10 per cent of the revenue coming from the marketplaces

The venture capital firm founded by top investor Kanwaljit Singh has also closed its second fund Fireside Fund II at Rs 863 crore

The venture capital (VC) firm is planning to make around 18-20 investments via fund 2 in the range of $4-5 million in each portfolio company across Pre-Series A and Series A stages

Fund II of Fireside is anchored by Indian and global investors and institutions

VC fund expects its portfolio of consumer brand start-ups to go global, cross $100 million in sales each in next few years

There has been a secular shift in the consumer buying behaviour, Fireside said in a statement

Fireside Ventures founder says several investors are keen to participate in future investing rounds

Premji Invest, WestBridge capital and Mariwala family office anchor the fund