Fireside Ventures announces the final close of Fund III at INR 1,830 crore (USD 225 million)

Fireside Ventures, an early-stage venture fund investing in digital-first consumer brands, announces the close of its third fund at INR 1,830 crore (USD 225 million). Double the size of its previous fund, Fireside Fund III will continue to fuel the growth of purposeful and iconic brands from India, for India, and beyond.

The market for D2C brands in India is set to touch USD 100 billion by 2025[1]. Trends like e-commerce penetration, widespread focus on health and wellness, and normalization of virtual experiences were accelerated by the pandemic and have propelled digital-first brands well past the role of “challenger.” In key categories like beauty and personal care, food & beverage, and fashion, D2C brands are competing alongside legacy players.

Over the last few years, D2C brands have almost re-defined the marketing landscape. These brands have led with unique and innovative concepts like building an integrated House of Brands, adopting a platform play approach, and building quality goods and services which gives them exposure to global markets.

Fund III will invest 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. In addition to compelling products which offer personalized customer experience using data analytics-based value propositions, Fund III will also seek out brands with a strong purpose, responsible practices, and healthy governance.

Fireside Fund III is anchored by new and existing Indian and global investors which include, Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield – Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures, and several start-up founders.

Fund III reiterates Fireside’s commitment to continue backing bold, purposeful entrepreneurs who can replicate their success stories across the globe and win over consumers and communities.

Kanwaljit Singh, Managing Partner, Fireside Ventures said, “Fireside Ventures was created with a very clear vision, to invest in the next generation of consumer brands, a space that was witnessing the start of disruptive changes. Five years later, we are delighted 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.”

Since 2017, Fireside has backed this new wave of consumer brands. The fund has been the first institutional investor in 75% of its 31 portfolio companies, one of which is a unicorn, another is IPO-bound, and an inspiring 50% of which have been founded or co-founded by women.

Fireside Funds I and II have successfully powered some of India’s best-known new-age consumer brands, including personal care unicorn, Mamaearth, and IPO-bound boAt, as well as fast-growing businesses that are now household names like Vahdam, Slurrp Farm, Kapiva, 91 Cycles, Design Café, FS Life (erstwhile FableStreet), The Sleep Company, Gynoveda, Wellbeing Nutrition, and Pilgrim.