Ex-Amazon exec Deepankur Malhotra’s Kairon Capital marks first close of maiden consumer VC fund

Kairon Capital, a consumer-focused venture capital firm founded by former Amazon executive Deepankur Malhotra, has announced the first close of its maiden fund, raising over 60% of its targeted corpus.

The fund is targeting a total size of Rs 150 crore, with an additional Rs 50 crore greenshoe option. The first close drew commitments from a mix of consumer startup founders, family offices, and strategic corporate investors.

Investors include founders from India’s consumer ecosystem such as Rohit Chawla of Innovist, Rishubh Satiya of Plix, Saurabh Jain of Livspace, and Yogesh Kabra of XYXX, along with Emami Limited and other backers.

“This is a very intentional LP base,” Malhotra said. “These are people who have built, scaled, or enabled consumer businesses firsthand, along with family offices and strategic corporate capital that deeply understand brands, distribution, and scale. Their participation reflects alignment with how we want to partner with founders.”

Kairon Capital plans to build a concentrated portfolio of around 14–15 companies. The fund will invest from seed to early Series A stages, with cheque sizes ranging from Rs 2 crore to Rs 14 crore, and will reserve capital for follow-on investments in portfolio companies that demonstrate strong traction.

The firm is focused on early-stage consumer businesses that have established product-market fit but remain between initial experimentation and larger institutional funding. While category-agnostic within the consumer space, Kairon Capital will prioritise brands with differentiated products, clear unit economics, and scalable operating models.

“The segment we’re focused on sits between early experimentation and scaled institutional capital,” Malhotra said. “There are many consumer businesses that have figured out what works but are still underserved when it comes to thoughtful, founder-aligned capital at the right stage.”

Malhotra brings experience across investment banking, private equity, and venture capital, with prior investments in consumer companies including Innovist, FreshToHome, XYXX, and Nat Habit. He has also worked on consumer-focused investments during his tenure at Amazon.

Kairon Capital has already begun deploying capital and is currently evaluating multiple consumer startups. The firm expects to announce its first investments from the fund in the coming months.