Private Equity

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Spring Marketing Capital launches Rs.500-Cr second fund

Inc42  

Bengaluru-based Spring Marketing Capital has launched its second fund, targeting a corpus of INR 500 crore. The firm anticipates the first close of this fund, at INR 150 Cr, by March of the current year, supported by existing limited partners.The firm was co-founded by Raja Ganapathy, former chief marketing officer of Sequoia Capital India; advertising professional Arun Iyer, former chairman of Lowe Lintas, and Vineet Gupta, former group chief executive of DDB Mudra. The fund will maintain the investment strategy of its predecessor, focusing on startups that have achieved product-market fit and are about 3 to 5 years from significant liquidity events.Spring Marketing Capital intends to increase its investments in consumer brands across sectors such as fintech, health, lifestyle, and retail.Spring Marketing Capital's first fund, established in 2019 with an INR 150 Cr corpus, is fully deployed. Its portfolio includes 11 companies, such as Purplle, Mosaic Wellness, Jar, GIVA, Agilitas, and Shree Anandhaas. The firm also recently co-invested in D2C athleisure brand Cava's INR 40 crore Series A round.