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regular-article-logo Tuesday, 05 March 2024

Wipro Consumer Care Ventures launches second fund with a corpus of Rs 250 crore

The Fund II will focus on investing in consumer startups in India and Southeast Asia, a company statement said

PTI New Delhi Published 03.12.23, 09:03 AM
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Wipro Consumer Care — Ventures, the venture funding arm of Wipro Consumer Care and Lighting, on Saturday said it has launched the second fund with a corpus of Rs 250 crore.

The Fund II will focus on investing in consumer startups in India and Southeast Asia, a company statement said.

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“We would look for e-commerce driven companies at the Pre Series A stage onwards, with minority stake approach (up to 25 per cent), and continue with our strategy of helping and nurturing the start-ups as required,” it added.

Wipro Consumer Care — Ventures, launched around four years ago with a corpus of Rs 200 crore, has made 10 investments so far.

“The fund performance is robust,” it said. The company has done part exits from two of its investments so far from the first corpus.

“Moreover, in one of them we have clocked a 10x increase in a short period,” the funding company said.

“While a large majority of this fund has been committed, a couple of more new investments would be made from this fund as well as a few follow-ons too.

“Our portfolio construct is varied and a mix of investments in startups in India, in SE Asia, as well as in a VC fund,” it said.

Managing partner Sumit Keshan said the focus would be on companies that operate in categories and sub-categories of personal care, skin care, home care, wellness, food and fragrances.

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