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Kairon Capital, a consumer-focused venture capital firm founded by Deepankur Malhotra, has completed the first close of its inaugural fund.
The fund is targeting a total corpus of INR 150 crore and includes a greenshoe option of up to INR 50 crore. According to the firm, more than 60 percent of the target corpus has been raised in the first close.
The investor base comprises consumer startup founders, family offices and strategic corporate investors. Backers include founders from companies such as Innovist, Plix, Livspace and XYXX, as well as Emami Limited.
Kairon Capital plans to build a concentrated portfolio of around 14 to 15 companies. Investments will be made from the seed stage to early Series A, with cheque sizes ranging between INR 2 crore and INR 14 crore. The fund will also reserve capital for follow-on rounds.
The firm will focus on early-stage consumer businesses that have demonstrated product-market fit. While remaining category-agnostic within the consumer space, it will prioritise brands with differentiated products and clear unit economics.
Malhotra has experience across investment banking, private equity and venture capital. His past investments include Innovist, FreshToHome, XYXX and Nat Habit. Kairon Capital is deploying capital and is evaluating startups, with investments expected in the coming months.
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