SIDBI Funds and other investors helped the venture capital firm Prath Ventures collect Rs 120 crore in a second closing.
According to a press release from Prath Ventures, the fund would aim to provide its limited partners (LPs) with Indian consumer potential while abiding by institutional fund management guidelines. A Morgan Stanley analysis projects that by 2030, India’s consumption would have surpassed $4 trillion.
Investing in digital consumer firms and their enablers, Prath Ventures was co-founded in 2022 by Piyush Goenka and Harmanpreet Singh. It focuses on seed to Series A stage companies and has made three investments so far, including Jimmy’s Cocktails, a beverage maker, and unannounced investments in consumer brands in the travel and lifestyle industries.
The Mumbai-based company claims that it helps early-stage startups scale their businesses and achieve sustainable growth by utilizing its industry experience and network. The platform incorporates sophisticated portfolio management and private equity-style rigor into its investment methodology.
More than 20 firms, including Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp, and others, have received funding from the company.
The organization has managed third-party capital Partners in numerous customer journeys at various phases across categories for more than 30 years. The Prath team has invested in over 20 consumer firms from seed to development, both professionally and personally. The group is passionate about creating value with its founders and feels that rigor and agility go hand in hand. It seeks to engage in long-term planning with those who are also open to such planning. PRATH is putting a lot of love and effort into creating an institution that it believes will outlive and surpass its enthusiasm for consumer investing.
