Fireside Ventures Closes Fund II At $118 Mn; Sees Partial Exit From boAt
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India, Jan. 20 -- Bengaluru-based venture capital firm Fireside Ventures that invests in consumer brands has announced the final close of its Fund II at INR 863 Cr ($118 Mn). The company had targetted a corpus of INR 750 Cr (approximately $100 Mn) in this round, but raised an additional INR 113 Cr ($18 Mn) through the greenshoe option.
About 100 limited partners (LPs) have participated in the fund, with 30%-40% of the LPs returning after investing in Fireside's Fund I. Some of the prominent LPs in the second fund are Small Industrial Development Bank of India (SIDBI), Nippon India, Pidilite, L'Oreal Paris, Bajaj Holdings and PremjiInvest, among others.
"It is a mark of confidence that the fund I investors have shown with a repeat invest...
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