Mumbai, Dec. 2 -- Fireside Ventures has closed its fourth consumer-focused fund at $253 million with a more diverse base of investors, or limited partners (LPs), to continue backing early-stage startups in India, a top official at the investment firm said.

"In this fund, we have a 50-50 split between domestic and global investors. It's a healthy mix of different types of investors including fund of funds, financial services, banks, life insurance companies, etc.," said Dipanjan Basu, co-founder and partner at Fireside Ventures.

"Our past funds were more domestic-driven with nearly 80-90% coming from Indian LPs. This fund has seen more of an evolution as LPs are seeing a well-devised early-stage strategy play out where we come in early, ...