Fireside Ventures closes Fund III at $225 Mn

Early-stage consumer-focused venture capital fund Fireside Ventures has announced the final close of its third fund at $225 million. In January 2021, Fireside announced the close of its second fund at $118 million.

Fireside Fund III will invest in 25-30 startups with a focus on health and wellness, edutainment, lifestyle and FMCG (fast-moving consumer goods). This fund is anchored by new and existing Indian and global investors which include, Self-Reliant India Fund, Investment Corporation of Dubai, SBI, Premji Invest, Waterfield-Fund of Funds, ITC Limited, Emami Limited, Sharrp Ventures, and some startup founders.

According to Fireside, the fund has been the first institutional investor in 75% of its portfolio companies. Its 31 investments also include unicorns and IPO-bound startups: boAt and Mamaearth. Vahdam, Yoga Bar, Samosa Singh, SLAY Coffee, Design Café, Bombay Shaving Company, Pipa Bella, Azani, Smytten, Traya, The Sleep Company, 10Club, Wellbeing Nutrition, Pilgrim, Fitterfly, and Slurrp Farm are notable startups funded by Fireside Fund I and Fund II. 

Data compiled by Fintrackr shows that more than 90 VCs, PE, and debt funds had announced their new fund launch as of July. In August, Fundamentum, Stride Ventures, Merak Ventures and Cactus Ventures announced their new funds whereas September saw only a couple of fund launches including Elev8 Venture Partners and StartupXseed, according to Fintrackr’s data. Besides Fireside, Backsoil and Kettleborough VC have announced their new fund in October so far.