New Delhi, Oct. 29 -- Gruhas, the investment firm co-founded by Nikhil Kamath and Abhijeet Pai, together with Collective Artists Network, has successfully wrapped up the maiden close of its consumer brand fund.
The fund, called the Gruhas Collective Consumer Fund (GCCF), has raised Rs 100 crore (around $11.3 million) in its first closing. To expand its capacity, GCCF is now opening a green-shoe option worth Rs 50 crore.
Kamath said that meeting the target in under a year shows growing domestic confidence in homegrown consumer brands. "For the longest time, we believed foreign was better; now Indian founders are building brands that tell our own story. The idea is simple, when storytelling meets strong fundamentals, some very interesting businesses will come out of India," Kamath added.
GCCF is structured to invest in early-stage consumer-focused ventures that aim to shape India's consumption story. The fund is targeting consumer startups across fast-growing lifestyle, food & beverage, wellness, and personal care segments.
It has already backed seven companies, including protein-snack brand Superyou, wellness & lifestyle names like Bold Care, baby-snack brand Bebe Burp, and lifestyle fashion label Bummer, among others.
The fund has received investor support from institutional investors such as 360 One Prime (IIFL Wealth) and Anand Rathi, along with participation from family offices and high-net-worth individuals.
The fund reports a projected internal rate of return (IRR) of about 70%, driven in part by valuation upgrades for two of its portfolio firms.
According to Vijay Subramaniam, chief executive officer of Collective Artists Network, the goal is to combine capital with creative and community-driven insight to back brands that resonate with changing Indian consumer behaviour.
"With seven investments already in place, we are just getting started, and our commitment is to back the kind of founders and ideas that will define India's evolving consumption story for decades to come," he said.
Published by HT Digital Content Services with permission from VC Circle.