Fireside closes first fund worth ₹340 crore

BENGALURU: Fireside Ventures, an early-stage venture capital fund focused on consumer brands, on Tuesday announced that it has closed its first fund with a corpus of ₹340 crore. The venture capital (VC) fund plans to invest in 20-25 consumer brand businesses from this fund over the next two to three years. The current fund drew investor attention and investment from established FMCG brands including Unilever Ventures, Emami Ltd, and ITC Ltd. Other prominent investors including Premji Invest, Westbridge Capital, Mariwala Family Office, Sanjiv Goenka Family Office, and Sunil Munjal’s Hero Enterprise Investment Office also invested in the fund.