DSG Consumer Partners tops up second fund with $10 mn, surpasses target – VCCircle

Early-stage investment firm DSG Consumer Partners has received an additional $10 million (Rs 63 crore) for its second fund, marking the final close at $50 million (Rs 319 crore), a report in a business daily stated.

The second fund – DSGCP II – overshot its $40 million target because of significant demand from institutional investors such as the funds of funds and family offices, the Mint reported, citing the venture capital firm’s founder Deepak Shahdadpuri.

An email sent to DSG Consumer Partners did not elicit a response till the time of filing this article.

Shahdadpuri had earlier told VCCircle that it was targeting a corpus of $50 million for DSGCP II. The fund, which made the first close in April last year, has already made commitments of around $13 million.

Its investments from the second fund include cold-pressed juice manufacturer Raw Pressery, art venture Insignia Art Collect Pvt Ltd, and tech-enabled motorbike rental startup Tazzo Technologies Pvt. Ltd.

The second fund aims to make 20 investments, Shahdadpuri said earlier. It will focus on companies in India and Southeast Asia and will deploy the entire corpus by mid-2018.

DSG Consumer Partners had raised its first fund in December 2012 with a corpus of $20 million. It invested in 19 companies, including mobile payments service provider Mswipe Technologies, specialty food ingredients maker Veeba Foods, restaurant reservations and rating platform Eazydiner, personal coaching firm GOQii, frozen dry fruit and vegetable firm Saraf Food, and specialty cheese maker Exito Gourmet.

The early-stage investment space in India has seen several fund-launching activities in the recent past.

Earlier this year, IDG Ventures, Endiya Partners, Stellaris Venture Partners and Fireside Ventures, Menterra Venture Advisors and WEH Ventures had either made the first or final close of their funds.

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