GCPL to invest Rs 100 crore in early stage consumer startups in India
NEW DELHI, April 7 (IANS) Godrej Consumer Products Limited (GCPL) said on Saturday that it will invest Rs 100 crore in early spring, a new Rs 300 crore early-stage consumer fund to be set up by Spring Marketing Capital (Spring).
GCPL said it would anchor the fund as well as offer its expertise and experience to help founders build strong and sustainable companies.
The first Spring Fund of Rs 150 crore continues to invest in companies in Series A and beyond. The Early Spring 20 crore fund will invest between Rs 5 to Rs 20 crore in each company, from the seed stage to the pre-Series A stage.
“We intend to leverage our understanding of the consumer space and lessons learned over the past decades to enable early-stage founders to focus on building a strong offline as well as online presence by offering premium products in India,” said Umar Momin, Head of Mergers & Acquisitions, GCPL.
Spring is run by Raja Ganapathy, Arun Iyer and Vineet Gupta, who bring together decades of experience in investing and brand building.
GCPL will provide the expertise and experience that enables founders to build strong and sustainable companies.
Momen added, “I would urge young companies to connect and benefit from Spring’s experience and expertise across the spectrum from brand building, manufacturing, product development, distribution and future capital raising.”