Key Points of Godrej Consumer Startup Fund Allocation:
- Godrej Consumer Products (GCPL) is investing INR 100 Cr in Early Spring, an early stage fund established by Spring Marketing Capital.
- The new fund will have a total of INR 300 Cr and will focus on investing in startups at the seed and pre-Series A stages with an investment range of between INR 5 Cr and INR 20 Cr.
- GCPL will offer its expertise and experience to help portfolio founders, with a particular focus on categories such as home and personal care, health, and wellness.
- GCPL plans to nominate some of its employees as partners to the startups the fund invests in to share the company’s experience in areas such as marketing and distribution, while also learning from startups.
- GCPL aims to create a portfolio of 15-20 startups with the venture fund.
- FMCG players such as Wipro and Unilever have also launched venture funds to invest in early-stage consumer brands working in India.
- Many startup funds have either been closed or launched, signaling better times ahead. India’s VC firms, angel networks, and venture debt firms have already announced or closed funds worth $2.27 Bn in 2023 so far.
Details of Godrej Consumer Startup Fund Allocation:
Godrej Consumer Products (GCPL) is set to invest INR 100 Cr in Early Spring, an early stage fund established by Spring Marketing Capital. The new fund will have a total of INR 300 Cr and will focus on investing in startups at the seed and pre-Series A stages with an investment range of between INR 5 Cr and INR 20 Cr. GCPL will offer its expertise and experience to help portfolio founders, with a particular focus on categories such as home and personal care, health, and wellness.
Omar Momin, head of M&A at GCPL, said that the company plans to nominate some of its employees as partners to the startups the fund invests in to share the company’s experience in areas such as marketing and distribution, while also learning from startups.
GCPL aims to create a portfolio of 15-20 startups with the venture fund. FMCG players such as Wipro and Unilever have also launched venture funds to invest in early-stage consumer brands working in India. The move comes at a time when funding raised by Indian startups has seen a sharp decline, but many startup funds have either been closed or launched, signaling better times ahead. India’s VC firms, angel networks, and venture debt firms have already announced or closed funds worth $2.27 Bn in 2023 so far.
About Godrej Consumer:
Based in Mumbai, India, Godrej Consumer is a company that specializes in the production of a wide range of consumer goods. These products include soap, hair colorants, toiletries, and liquid detergents.
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