Fireside Ventures Closes Fund IV: Rs 2,265 Crore

New Delhi, Dec 2 (PTI) Venture Capital firm Fireside Ventures on Tuesday announced the final close of its fourth fund with a corpus of Rs 2,265 crore, or USD 253 million, raised from Indian and global investors.

Fireside Fund IV has secured commitments from a diversified base of Indian and Global investors, including US University Endowments, Global Sovereign funds like Abu Dhabi Investment Authority (ADIA), Investment Corporation of Dubai (ICD), prominent financial institutions like HarbourVest, Waterfield and Fidelity International, the venture capital firm said in a statement.

"Fireside Ventures...announced the final close of its fourth fund with a corpus of INR 2,265 crore (USD 253 million), raised through its gift city feeder fund and India master fund," the statement said.

Consumer corporations and families like Sharrp Ventures, Mirabilis, and Emami Limited also participated in the fund, Fireside Ventures.

"Fund IV gives us the opportunity to continue doing what we value deeply - working with founders who are building India's next generation of iconic consumer brands," Fireside Ventures founder and managing partner, Kanwaljit Singh, said.

Since its inception in 2017, Fireside has been the first institutional investor in over 74 per cent of its portfolio companies. The company has backed over 60 consumer brands.

"With Fund IV, Fireside's total assets under management (AUM) till date stand at Rs 5,300 crore or about USD 650 million," the statement said.

Across the platform, its portfolio contributes over USD 1.6 billion in revenue and more than USD 7 billion in market value, with several companies now operating at over Rs 500 crore scale.

The company's notable investments include Honasa Consumer (Mama Earth, Derma Co, etc), boAt, Frubon, The Good Bug, Slurrp Farm, Sweet Karam Coffee, Inito, Pilgrim, and Well Being, among others.