Wipro Consumer Care Ventures has announced the launch of its second fund, Fund II, with a substantial corpus of INR 250 crore. Following a strategy similar to its first fund, launched approximately four years ago with a total capital pool of INR 200 crore, the new fund aims to invest in promising consumer startups from both the Indian and Southeast Asian markets.
Fund I, which witnessed considerable success, saw Wipro Consumer Care Ventures making 10 investments. Despite the prevailing headwinds in the investment landscape, the firm believes that startups should prioritize stability, scalability, and a clear path to profitability. Sumit Keshan, Managing Partner at Wipro Consumer Care Ventures, emphasized the importance of these factors in the current investment scenario.
Wipro Consumer Care Ventures will target e-commerce companies in the pre-Series A and beyond stages, intending to acquire a minority stake of up to 25 percent. The focus areas include startups operating in personal care, skin care, home care, wellness, food, fragrances, and other related categories.
Keshan highlighted the success of Fund I, citing a Multiple on Invested Capital (MOIC) exceeding 2.2x. The firm’s first fund witnessed significant returns, including a remarkable 10X return from its investment in The Good Glamm Group in February. Other startups in Wipro Consumer Care Ventures’ portfolio include LetsShave, Power Gummies, and The Ayurveda Co.
