Wipro Consumer Care-Ventures Launches Rs 250 Crore Fund for Consumer Startups in India and Southeast Asia
Wipro Consumer Care-Ventures, the startup investment arm of Wipro's consumer division, announces the inauguration of its second fund with a formidable corpus of Rs 250 crore. The fund is dedicated to amplifying investments in consumer-centric startups across India and Southeast Asia. Sumit Keshan, Managing Partner, outlines the fund's focus on e-commerce-driven ventures, utilizing a minority stake approach with up to 25% equity. With a successful track record from its first fund, Wipro Consumer Care-Ventures aims to continue nurturing startups in personal care, skin care, home care, wellness, food, fragrances, and BPC. Explore the strategic vision driving this initiative and the company's commitment to fostering innovation and growth in the consumer startup landscape.
Wipro Consumer Care-Ventures, the startup investment arm of Wipro's consumer division, unveiled its second fund with a robust corpus of Rs 250 crore. The fund is earmarked to further fuel investments in consumer-focused startups across India and Southeast Asia.
Sumit Keshan, Managing Partner at Wipro Consumer Care-Ventures, outlined the fund's focus on e-commerce-driven companies from Pre-Series A onwards. The approach involves a minority stake strategy, with the fund holding up to 25% equity, aligning with the overarching goal of actively supporting and nurturing startups as needed.
Keshan emphasized the fund's specific interest in companies operating within the realms of personal care, skin care, home care, wellness, food, fragrances, and BPC (Beauty and Personal Care). This targeted approach aims to tap into high-potential sectors within the consumer space.
The venture marks the sequel to Wipro Consumer Care-Ventures' inaugural venture capital fund, launched approximately four years ago with a corpus of Rs 200 crore. The first fund has successfully executed 10 investments to date, showcasing a commendable multiple on invested capital at over 2.2x and an internal rate of return surpassing market benchmarks.
With part exits from two investments and an impressive 10x return from one, the initial fund demonstrated the effectiveness of Wipro Consumer Care-Ventures' investment strategy. The fund's portfolio includes startups in India and Southeast Asia, along with investments in a VC fund.
While a significant portion of the first fund has already been committed, Wipro Consumer Care-Ventures plans to allocate remaining resources for a couple of new investments and additional follow-ons. Despite current challenges in the investment landscape, the firm believes that startups should prioritize stability, scalability, and a clear path to profitability.
As Wipro Consumer Care-Ventures embarks on this new funding initiative, it underscores the company's commitment to fostering innovation and growth in the consumer startup ecosystem across the region.
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