Fireside Ventures closes fourth fund at Rs 2,265 crore

Fireside Ventures, an early-stage investment fund that focuses on consumer businesses, announced on Tuesday that it has closed its fourth fund with $253 million (Rs 2,265 crore).

Fund IV is the firm’s largest fund yet and has received investments from both Indian and international backers. These include US university endowments, the Abu Dhabi Investment Authority (ADIA), Investment Corporation of Dubai (ICD), HarbourVest, Waterfield, Fidelity International, Sharrp Ventures, Mirabilis, Emami Limited, and others.

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Fireside has invested in brands like mamaearth, boat, Supertails, Newme, Slurrp Farm, Yoga Bar, and more. The firm usually backs early-stage startups in areas such as pet care, niche online retail, health and wellness, beauty and personal care, and healthy food.

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

Singh said the new fund will invest in 30–35 startups in total, and aims to do 10–12 deals per year.

Fireside plans to use this fund to keep investing in consumer brands and ecommerce, with a strong focus on what Gen Z and Gen Alpha are buying.

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The firm will also look for new investment opportunities in consumer-focused AI. It already backs Newme and Traya, two startups that use AI in their products.

Fireside raised $225 million for its third fund in 2022, $120 million for its second fund, and $50 million for its first fund.

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