Fireside Ventured raised $ 118 million

Towards the final close of its second investment, including a $18 million (Rs 113 crore) green shoe option, Fireside Ventures has raised $118 million (Rs 863 crore), its top executive said.

In November 2019, the early-stage consumer brand-focused investor announced the first $60 million closure of the fund.

Launched in 2017 by Kanwaljit Singh, who co-founded Helion Venture Partners, one of the country’s oldest venture funds, Fireside Ventures has already begun to deploy capital from its second fund, investing approximately Rs 70 crore in four companies—GynoVeda, Sarva Yoga, Fable Street, and Slurrp Farm.

In the year 2017, the firm was founded. The new approach to investing in consumer brands is being proposed by Fireside Ventures. Fireside Ventures is investing in consumer brands in the early stages.

Some current investors, according to Singh, have also invested in the second fund.

“Singh, its managing partner, told ET, “It is a sign of trust that Fund I investors have shown with repeated investments in the new fund.

For a 20 percent ownership of its portfolio firms, Fireside usually spends $1 million.

It will be able to invest in 15-20 consumer brand startups with a larger second fund while continuing to maintain its attention on digital-first brands.