Ananta Capital acquired a 55% stake in Anveya Living for an undisclosed sum. D2C brands such as Anveya, Curlvana, ThriveCo, and others are housed within the organisation, which provides cosmetics and haircare solutions.
The company will allocate the new capital to the development of new products in the hair and cosmetics categories, as well as to global expansion.
Guardian Group, the VC firm’s beauty and personal care division, acquired the dominant stake in Anveya Living. The transaction was a combination of primary and secondary transactions.
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Anveya Living’s institutional investor, Rokum Capital, and all angel investors were required to exit the company as part of the acquisition. Singh and Patnaik, the founders, also reduced their ownership.
Three of the five members of Anveya Living’s Board will be nominated by Ananta Capital, while the remaining two seats will be claimed by Anveya founders Vivek Singh and Saurav Patnaik.
Anveya’s operational leverage would be further enhanced by the integration of its brands with Guardian’s beauty and wellness brands, which would grant Anveya access to Guardian’s distribution network both within and outside of India.
Ashutosh Taparia and Sanjeev Taparia, Board Members of Guardian Group and Ananta Capital, said: “We will continue to explore further acquisitions in the beauty and wellness categories and build them under a unified balance sheet to drive maximum synergies,”
About Ananta Capital
Founded in 2020 by Prem Kumar, Ananta Capital is an investment management platform focused on partnering with businesses for the long-term.
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