Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr

Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr

SUMMARY

Consumer-focused venture capital firm Sauce.vc marked the final close of its third fund at INR 365 Cr (nearly $43.6 Mn), and the fund was closed against a target corpus of INR 250 Cr

The VC fund has raised capital from Infosys cofounder Kris Gopalakrishnan’s family office Pratithi Investments, Marico promoter Harsh Mariwala’s Sharrp Ventures, Singularity Ventures and Saison Capital

In June alone, the fund made investments in Ahmedabad-based ice cream brand Hocco and beverage startup Rockit

Consumer-focused venture capital firm Sauce.vc, which counts Mokobara, Whole Truth Foods, Supertails and Bare Anatomy among its portfolio companies, has reportedly marked the final close of its third fund at INR 365 Cr (nearly $43.6 Mn).

As per ET’s report, citing founder and managing partner Manu Chandra, the fund was closed against a target corpus of INR 250 Cr. 

The VC fund has raised capital from Chona family, Kris Gopalakrishnan’s Investment Office Pratithi Investment, Mirabilis Investment Trust, Sarda Group, Singularity Ventures and Saison Capital among others, Chandra told Inc42.

Chandra confirmed to Inc42 that 95% of its capital was raised from domestic investors, and include top consumer focused family offices, fund of funds, corporates and HNIs.

Sauce.vc, founded in 2019 by Chandra, floated its third VC fund with a target to raise INR 250 Cr ($30 Mn) in May. Back then, it was looking to invest in 15-16 early stage consumer brands. 

Chandra confirmed that the Delhi-NCR-based VC firm received demand for subscriptions amounting to about INR 700 Cr, as per the report.

“We’ll continue to take pre seed, pre revenue bets… with average cheque size of around INR 5 Cr, and we will reserve about 75% of the fund for follow-ons,” he added.

In June alone, Ahmedabad-based ice cream brand Hocco raised INR 100 Cr ($12 Mn) in a fresh funding round led by Sauce.vc and its promoter group Chona family, while beverage startup Rockit raised INR 6 Cr in a pre-seed funding round led by Sauce.vc, along with participation from Roadies fame Rannvijay Singha.

This third fund of Sauce.vc cushions the blooming consumer brands that have been gaining the likes of investors. India’s direct-to-consumer (D2C) market, which is likely to reach a size of $100 Bn by 2025, has grown exponentially in the last few years.

Of this, fashion and clothing startups have the highest potential and are expected to grow to $43.2 Bn by 2025, according to an Inc42 report.

(The story has been updated based on the comments from Sauce.vc founder Manu Chandra.)

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr-Inc42 Media
Sauce.vc Marks Final Close Of Third Fund At INR 365 Cr-Inc42 Media
You’re in Good company