Gruhas, Collective Artists Network Close Maiden Consumer Fund At INR 100 Cr

Gruhas and Collective Artists Network have closed their maiden Gruhas Collective Consumer Fund (GCCF) at INR 100 Cr, with plans to raise an additional INR 50 Cr via a green shoe option.

In a post on LinkedIn, the firm said that its investment with the fund would focus on early-stage consumer startups building for India and global markets. As per a report by Moneycontrol, investors such as 360 One Prime (IIFL Wealth) and Anand Rathi, along with several family offices, HNIs and UHNIs invested in the fund.

“I’ve always believed in the power of ideas that move culture and this fund is a natural extension of that belief. Grateful for the journey so far and excited for all that’s ahead, the founders, the stories, and the cultural shifts we’ll help shape together,” Collective Artists Network’s founder and CEO Vijay Subramaniam said in a post on LinkedIn.

The fund has announced its final close over two years since its launch. In July 2023, Nikhil Kamath and Abhijit Pai’s VC firm Gruhas and creative agency Collective Artists Network partnered to launch the fund to invest up to $1 Mn in around 10 consumer-facing startups. Besides, the fund would also make follow-on investments in its portfolio startups.

The investments are focussed on startups operating in D2C subsegments like lifestyle, childcare, and food & beverage, with an emphasis on brands that address evolving consumption patterns in India.

Till date, it has made seven investments till date in startups namely The Fresh Press, BoldCare, Bummer, Emomee, Bebe Burp, Fur Jaden and SuperYou.

The GCCF model combines Gruhas’ investment experience with Collective Artists Network’s media, branding, and influencer expertise to help founders scale.

Launched in 2021 by Pai and Kamath, Gruhas focusses on early and growth stage startups across consumer brands, proptech, cleantech, among others. It has invested in over 50 startups, including the likes of Rare Rabbit, Park Smart, Matel, Emoha, among others.

Gruhas is one of the multiple investment vehicles set up by Kamath. Meanwhile his incubator-cum-fund Rainmatter (affiliated with Zerodha) backs fintech, health-tech and climate-tech startups with a patient-capital mindset.

Besides, he also operates a non-dilutive grant initiative named WTFund back very young Indian entrepreneurs, typically under 25, who are building early-stage ventures. The fund typically offers INR 20 Lakh in grants.

The Collective Artists Network, on the other hand, is a Mumbai-headquartered talent management agency. The agency, founded in 2009 by Vijay Subramaniam, manages and offers talent across entertainment and sports.

The fund’s focus on investing in homegrown D2C brands comes at a time when the market is rapidly expanding. Over the past couple of years, it has rapidly evolved into one of the most promising consumption stories globally.

As per Inc42 data, the D2C space is projected to become a $300 Bn opportunity by 2030, fuelled by internet penetration, and changing consumer behaviour. Over 190 Mn digital shoppers and ecosystem’s maturity has also made it a hotspot for equity funding.

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