The consumer-focused investment firm DSG Consumer Partners (DSGCP) has made the first close of its second fund at $35 million from Verlinvest, the Belgium-based investment holding company. Other investors who participated in the round include Sameer Sain (co-founder of Everstone Capital Advisors), Alok Oberoi (Co-founder of asset management firm ACPI Investments) and Saama Capital founders Ash Lilani and Suresh Shanmugham, who have invested in their personal capacities.
Deepak Shahdadpuri-led investment firm was an early investor in firms like OYO Rooms, MSwipe Technologies and Chai Point.
DSGCP II will invest in about 20 early-stage ventures across the broader consumer space, while looking to identify opportunities in health, fitness, nutrition, FMCG, financial services, fin-tech, food processing, dairy and alco-bev. The new fund will follow a similar investment theme as that of Fund I.
The fund made its first investment in cold press juice brand Raw Pressery in February, when it participated in an Rs 31-crore funding round, along with Sequoia Capital and Saama Capital.
“We are actively working on four-five deals, which are in varied stages of diligence and are hoping to announce the next one by May,” Shahdadpuri said.
Just yesterday, IvyCap Ventures which is known for investing in early and growth stage companies, has raised around $45 million for the first close of its second fund of $90 million. Earlier this month, US-based venture capital firm, Entrepreneurship and Venture Capital (EVC) also announced its plans to launch India-focused $50 million early-stage investment fund.