Private Equity

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Fluid Ventures closes debut D2C brands focused fund with Rs 50-Cr

BusinessLine  

Fluid Ventures, a Gurgaon-based Direct to Consumer brands focussed Venture Capital fund, has announced the final close of its debut fund at INR 50 crore. The fund has seen participation from over 35 limited partners (LPs), including high net-worth CXOs and founders/entrepreneurs from India and internationally, with 80% being the first-time investors in a SEBI-registered AIF. The fund, with an initial target of INR 45 crore, received investor commitments of INR 50 crore and utilised the green shoe option. Fluid Ventures invests INR 1.5 - 3.0 crore per startup with a significant portion being allocated for follow-on rounds. The fund will be investing in 8-10 more growth-stage startups over the next two years. It has already invested in six companies in the last three quarters, which include Fabriclore (e-retailer for fabric), Shumee Toys (sustainable wooden toys brand), WallMantra (home décor brand), Eske (luxury lifestyle brand), Raskik (coconut infused beverages) and Masterchow (Chinese condiment and sauce brand).