Fireside Ventures closes Rs 2,265 crore Fund IV to invest in Indian consumer brands

Consumer-focused venture platform Fireside Ventures today announced the final close of its fourth fund with a corpus of Rs 2,265 crore ($253 million), raised through its gift city feeder fund and India master fund.

Fireside Fund IV has secured commitments from a diversified base of Indian and Global investors, including US University Endowments; Global Sovereign funds like Abu Dhabi Investment Authority (ADIA), Investment Corporation of Dubai (ICD); Prominent Financial Institutions like HarbourVest, Waterfield, Fidelity International; Consumer Corporations & Families like Sharrp Ventures, Mirabilis, Emami Limited; and Founders from across the ecosystem.

Kanwaljit Singh, Founder & Managing Partner, Fireside Ventures, said, “Fund IV gives us the opportunity to continue doing what we value deeply — working with founders who are building India’s next generation of iconic consumer brands. The environment around us is evolving fast, but the principles of building enduring brands remain the same: clarity of purpose, a sharp view of the consumer, and laser sharp focus on execution.”

To support portfolio companies, the firm has also established a Centre of Excellence providing guidance in areas including go-to-market strategy, brand building, ESG and corporate development.

Based on IRR (INR) and DPI (INR), Fireside Fund I is ranked 1st out of 11 funds that were considered under vintage year 2018 of Category I funds of CRISIL AIF Benchmarks as of September 30, 2024. Across the platform, Fireside’s portfolio contributes over $1.6 billion in revenue and more than $7 billion in market value, with several companies now operating at Rs 500 crore+ scale.

Notable investments include Honasa Consumer (Mama Earth, Derma Co etc), boAt, The Sleep Company, Frubon, The Good Bug, Slurrp Farm, Sweet Karam Coffee, Inito, Pilgrim, Well Being, Moxie, New Me and Traya.

Since its inception in 2017, Fireside has been the first institutional investor in over 74% of its portfolio companies and today backs 60+ consumer brands. With Fund IV, Fireside’s total assets under management (AUM) till date stands at Rs 5,300 crore ($650 million).