SUMMARY
Fireside Ventures has elevated three of its partners – Kannan Sitaram, Vinay Singh, and Dipanjan Basu – to the role of cofounders
The three new cofounders bring deep consumer-centric experience to the table, the VC firm said
Fireside Ventures currently has an AUM of $395 Mn and announced the final close of its third VC fund, Fireside Fund III, at $225 Mn in October 2022
Early-stage venture capital (VC) firm Fireside Ventures has elevated three of its partners – Kannan Sitaram, Vinay Singh, and Dipanjan Basu – to the role of cofounders.
In a statement, the VC firm said that the three cofounders bring deep consumer-centric experience to the table and this knowledge force has been instrumental in shaping the fund’s vision and in establishing Fireside as India’s leading consumer-focused venture fund.
Sitaram has more than 30 years of experience in the consumer sector and brings hands-on expertise in brand building, strategy, and business development. He represents Fireside on the boards of several of its key investments including MamaEarth, Yogabar and Kapiva.
Meanwhile, Singh has 15 years of domain expertise in consumer brands and technology industries, the statement said, adding that he has built deep knowledge in areas of brand management, marketing and digital commerce. He is shaping and mentoring multiple portfolio companies of the VC firm, including 91 Cycles, Pilgrim, Gynoveda, among others.
On the other hand, Dipanjan Basu has more than 20 years of experience in investing, ecommerce, M&A, operations and finance. He is on the board and works closely with startups such as The Sleep Company, FS Life (formerly Fable Street) and Nat Habit.
Commenting on the elevation of the partners, Kanwaljit Singh, managing partner of Fireside Ventures, said, “Fireside started as my personal vision to build a unique investing platform to support exciting businesses that would disrupt the consumption landscape in India and globally. In this journey, all the partners contributed significantly to make this vision a reality.”
“In these five years, Fireside has built a strong and credible reputation as a venture partner of choice for bold, purposeful entrepreneurs. It’s a matter of great pride for me to call them my cofounders as we continue our journey into the next phase of growth for Fireside,” he added.
Founded in 2017, Fireside currently has an AUM of $395 Mn with investments across consumer brands in sectors such as health and wellness, food and beverages, beauty and personal care, among others.
It announced the final close of its third VC fund, Fireside Fund III, at $225 Mn (INR 1,830 Cr) last October. Fund III saw participation from new and existing investors such as Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield Fund of Funds, ITC, Emami, Sharrp Ventures, and several startup founders.
