In order to make investments in consumer brands and products, Nikhil Kamath, Abhijit Pai’s Gruhas, and the Collective Artists Network have collaborated and formed a startup fund.
The fund will usually invest up to $1 million and consist of a portfolio of 10 businesses. The fund will additionally execute follow-up investments in the firms in its portfolio, as reported by Inc42.com.
“This partnership represents a memorandum of understanding and intent between Gruhas and the Collective Artists Network,” said the two companies in a joint statement.
“By combining their networks and resources, the two units are poised to revolutionise the Indian business landscape, empowering the next generation of entrepreneurs and driving the growth of the consumer products and technology sector,” the two added.
There were actually no official statements on the $150 million venture fund that the VC company also intended to launch. But Gruhas has an accelerator project called ASPIRE that finished selecting its initial cohort of small businesses in August.
In 2021, Abhijeet Pai and Nikhil Kamath founded Gruhas. Gruhas invests in businesses that combine a sense of purpose with an opportunity or need in order to create capital-efficient, multinational corporations that address needs in the Proptech, Clean Tech, and Consumer Need (Content and Consumption) sectors.
About Collective Artists Network
The only platform for popular culture in India is the Collective Artists Network. A Unified Creative Community, Fueling Dreams The Collective Artists Network is who we are. Collective Artists Network is a multifaceted talent administration powerhouse with unrivaled access to India’s leading talent across categories.