Private Equity

Liquidity Events

Wipro Consumer Care Ventures makes partial-exit from The Good Glamm Group with 10x return

Business Line  

Wipro Consumer Care Ventures has made 10x returns from a partial exit in beauty and personal care startup The Good Glamm Group. The firm invested at a valuation of USD 100 million and partially-exited at a valuation of about USD 1 Billion. Wipro Consumer Care - Ventures had set up a INR 200 crore fund three years back and has since committed 60% of the amount. It had invested in nine companies including The Good Glamm Group, Ustraa, OneLife, LetsShave, Soulflower, and Power Gummies. It also invested in an Indonesia-based nutraceutical and wellness company called Youvit and a Singapore-based VC fund, DSG Consumer Partners IV. Typically, the firm invests INR 10-25 crore in the startups for a 10- 20 % stake.