Premji Invest participates in Fireside Ventures' Rs 180 crore fund

New Delhi: Fireside Ventures, an early stage consumer brand-focused venture fund, has received commitments worth Rs 180 crore from investors like Premji Invest, Mariwala family office and RP-Sanjiv Goenka group.

The maiden fund from Fireside has also received commitment from WestBridge capital and Emami, a statement said.

Avendus is the exclusive advisor-partner for Fireside Ventures in the fund raise, it added.

Fireside was started by Kanwaljit Singh, who has over 30 years of experience in companies like Hindustan Unilever, Intel and Carlyle Group. He was the co-founder of Helion Ventures before starting Fireside Ventures.

Some of the brands that Singh has invested in include Paper Boat, ID Fresh, Epigamia, Hokey Pokey, Yogabar, Goodness Beverages, Licious, Mama Earth, Vahdam Teas and Fable Street.

"We are aiming to become a top tier venture investor in the consumer brands space providing not only the much needed early stage capital to these exciting companies but also provide support through in house resources and an advisor and partner network," Singh said.

The fund will invest across multiple stages in these companies from inception till series A, and leverage the network of these marquee investors for additional co- investment requirements, he added.