Nikhil Kamath Backs New ₹150 Cr Fund To Boost Consumer-Focused Ventures In India

In a strategic collaboration aimed at fostering consumer-focused companies, India-centric venture capital fund Gruhas and creator marketplace Collective Artists Network have unveiled the Gruhas Collective Consumer Fund (GCCF). With an initial corpus of ₹150 crore, the fund, backed by Nikhil Kamath, co-founder of Gruhas, plans to invest in promising startups across various consumer industry segments.

What to know? The fund, jointly contributed by Gruhas and Collective Artists, also aims to attract external funding. Targeting an average deal size of about ₹8 crore, GCCF aims to catalyze growth in diverse sectors such as wellness, beverages, fashion, lifestyle, hospitality, and mothercare.

“This is just the start. Both partners will invest equally, complemented by third-party capital,” said Kamath.

Vijay Subramaniam, Group CEO and Founder of Collective Artists Network outlined the vision of investing in the addressable consumer space, intending to boost overall consumption. The first five companies have been selected, representing a cross-section of promising industries.

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The inception of GCCF traces back to a meeting between Subramaniam and Kamath over a year ago, where they discussed bridging Bengaluru’s tech hub with Mumbai’s entertainment sector. “Our goal is to create an efficient ecosystem by synergizing these two worlds without intermediaries,” Kamath added, highlighting his optimism for India’s long-term prospects.

Why it matters? GCCF’s approach extends beyond funding. It aims to provide mentorship and operational support, ensuring efficient marketing and brand-building for its portfolio companies. “We’re not just investing capital; we’re also deploying our expertise and influence to scale these brands efficiently,” Subramaniam noted.

Founded in 2011 by Kamath and Abhijeet Pai, Gruhas has invested in over 30 companies across various sectors, exemplifying its commitment to diverse entrepreneurial ventures.

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Posted In: NewsFinancingStartupsTechGruhasNikhil Kamath