Fireside Ventures Closes Fund IV at ₹2,265 Crore

Consumer-focused venture capital firm Fireside Ventures has closed its fourth fund at INR 2,265 crore (USD 253 million), marking the completion of its latest investment vehicle.

Fund IV has been raised through the firm's GIFT City feeder fund and India master fund, with participation from a diverse pool of global and Indian investors, including US university endowments, sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA) and Investment Corporation of Dubai (ICD), financial institutions like HarbourVest, Waterfield, and Fidelity International, as well as consumer-focused groups such as Sharrp Ventures, Mirabilis, and Emami Limited. Several founders from the ecosystem have also invested.

"The environment around us is evolving fast, but the principles of building enduring brands remain the same: clarity of purpose, a sharp view of the consumer, and laser-sharp focus on execution," said Kanwaljit Singh, Founder & Managing Partner, Fireside Ventures.

"Fund IV gives us the opportunity to continue doing what we value deeply — working with founders who are building India's next generation of iconic consumer brands. Our role is to help founders anchor to these fundamentals as they navigate the journey to scale," he added.

Fireside said its investment approach continues to be guided by the "Value of Good" philosophy, rooted in Founder First, One Fireside, and Planet First principles. The firm has built a dedicated Centre of Excellence (COE) to support portfolio companies with go-to-market strategy, brand building, ESG adoption, and corporate development.

As India's consumption story expands across regions and consumer cohorts, Fireside has widened its investment lens from being the first institutional investor to supporting brands through multiple stages of scale. Since 2017, it has backed 60+ consumer brands, with over 74 per cent of its portfolio companies receiving their first institutional cheque from Fireside.

The firm's earlier vehicles have delivered strong returns. Fireside Fund I is ranked 1st out of 11 funds in its 2018 vintage category (Category I AIFs), based on INR IRR and INR DPI benchmarks by CRISIL AIF Benchmarks as of September 30, 2024.

Fireside's portfolio collectively contributes USD 1.6 billion in revenue and over USD 7 billion in market value, with several companies now operating at the INR 500 crore-plus scale. Notable investments include Honasa Consumer (Mamaearth, The Derma Co), boAt, The Sleep Company, Frubon, The Good Bug, Slurrp Farm, Sweet Karam Coffee, Inito, Pilgrim, Well Being, Moxie, New Me, and Traya.

With the close of Fund IV, Fireside Ventures' total assets under management have risen to INR 5,300 crore (USD 650 million).