National, 13th March, 2024: Mumbai, Prath Ventures, a leading venture capital firm specializing in consumer-centric businesses has completed its second close, raising INR 120 crores. The second close saw participation from SIDBI Funds of Funds and several marquee founders and family offices.
Co-founded by Piyush Goenka and Harmanpreet Singh, Prath Ventures focuses on the Seed to Series A stage and has already made three investments since its inception. This includes beverage maker Jimmy’s cocktails and yet unannounced investments in consumer brands in the lifestyle and travel sector.
Former partners at Tano Capital and Multiples Private Equity respectively, Goenka and Singh bring a wealth of experience and a track record of having invested over INR 1700 crores in their careers. They have been involved in many successful consumer businesses including Safari Industries, PVR, Good Glamm Group, Vastu Housing, and others.
Before founding Prath Ventures, they cultivated a robust portfolio through angel investments, backing over twenty startups including Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp and others.
With a sharp focus on the burgeoning consumer sector, Prath Ventures capitalizes on India’s projected consumption growth. According to a Morgan Stanley report, India’s consumption is expected to surpass USD 4 trillion by 2030, creating a fertile ground for investment opportunities.
“Our unique value proposition lies in our ability to blend venture capital agility with the discipline and rigor of private equity,” commented Harmanpreet Singh, co-founder of Prath Ventures. “The fund will seek to deliver the best of Indian Consumption Opportunity to our LPs while adhering to the highest standards of institutional fund management”
Piyush Goenka, co-founder of Prath Ventures, added, “Our investment philosophy is rooted in our deep understanding of the consumer sector and our unwavering commitment to value creation. By providing early-stage companies with not just capital but also strategic guidance and operational support, we aim to catalyze their growth trajectory and unlock their full potential.”
The VC ecosystem has had a love-hate relationship with consumer space with several firms focusing more on enterprise and deep tech spaces. However, other firms have made Indian consumers their focal point including the likes of Fireside Ventures, DSG Consumer Partners, Sixth Sense Ventures, and A91 Partners.
Prath Ventures is targeting its final close in the coming months and is actively investing now. The firm sees this as a good vintage to invest in and is looking to deploy the corpus in the next eighteen to twenty-four months.
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