RPSG Capital Ventures, which is backed by RP Sanjiv Goenka Group, on Thursday announced the closure of its second fund at Rs 550 crore.
The company had to exercise the green shoe option to accommodate the higher investor interest which stood at over 150 per cent of the target fund size, a statement said.
The company had to exercise the green shoe option to accommodate the higher investor interest which stood at over 150 per cent of the target fund size, a statement said.
The investor base for this fund is largely domestic including family offices, high net worth individuals and industry veterans from the consumer sector. Along with other repeat investors from its previous funds, RPSG group itself has doubled their initial investment as the anchor investor. Along with other repeat investors from its previous funds, RPSG group itself has doubled their initial investment as the anchor investor.
RPSG Capital Ventures has invested in 16 companies till date, with over 90 per cent success rate in the portfolio that includes brands such as The Souled Store, Supertails, Perfora, mCaffeine, Vedix, SkinKraft, Plix, and True Elements amongst others.
The Fund typically invests in Series A rounds with first cheques of Rs 10-40 crore in the digitally native consumer ecosystem across F&B, beauty, health & wellness, entertainment, lifestyle goods and consumer enabler categories. “With this new Fund, we’ll continue to invest into new age consumer businesses that have solid unit economics, differentiated positioning, and strong teams.” said Abhishek Goenka, partner at RPSG Capital Ventures.
The fund invests in Series A rounds with first cheques of Rs 10 to Rs 40 crore in the digitally native consumer ecosystem across F&B, beauty, health and wellness, entertainment, lifestyle goods and consumer enabler categories. Post a harsh funding winter last year, which is expected to subside over the next few months, a number of new VC funds have cropped up this year to back Indian startups with a seemingly revised strategy focusing on path to profitability instead of cash burn.
RPSG Capital Ventures backed by RP-Sanjiv Goenka (RPSG) Group, which also is the anchor investor for Fund II, has invested in over 15 companies to date. Fund II was a 100 crore fund that invested in native D2C brands like The Souled Store, mCaffeine, Vedix, Plix, and True Elements. The company had to exercise the green shoe option to accommodate the higher investor interest which stood at over 150 per cent of the target fund size, a statement said.
“The investor base for this fund is largely domestic including leading family offices, high net worth individuals and industry veterans from the consumer sector,” it said.
