Sauce.vc is looking to invest in 15-16 early stage consumer brands
The New Delhi-based firm launched its first fund in 2019 with a target corpus of INR 60 Cr
Sauce.vc has invested in 30 companies over the last five years, including new age brands like Mokobara, XYXX Innerwear, Innovist, Hocco ice cream, Kreo, Rockit and Perfora among others
Sauce.vc, which counts Mokobara, Whole Truth Foods, Supertails and Bare Anatomy among its portfolio companies, has floated its third VC fund with a target to raise INR 250 Cr ($30Mn).
As per ET, Sauce.vc is looking to invest in 15-16 early stage consumer brands. It will predominantly raise capital from domestic limited partners, including family offices and corporate houses focused on consumer sectors.
The New Delhi-based firm launched its first fund in 2019 with a target corpus of INR 60 Cr. It launched its second vehicle in 2021 with a fund size of INR 158 Cr. Its latest Sauce Continuity Fund was closed with a corpus of INR 263 Cr.
Manu Chandra, founder and managing partner at Sauce.vc, told ET that they were doing away with the strategy of raising continuity funds, and will instead make larger ticket size investments from the main fund itself.
Sauce.vc received SEBI’s in-principle approval for the new fund a few weeks back.
The report further added that via third fund, the firm will be writing an cheque size in the range of INR 3.5-4 Cr as compared to INR 2-2.5 Cr deals it made through its earlier vehicles.
Founded in 2019, Sauce.vc has invested in 30 companies over the last five years, including new age brands like Mokobara, XYXX Innerwear, Innovist, Hocco ice cream, Kreo, Rockit and Perfora among others.
This comes at a time when several VC firms are launching funds to back new-age startups.
Last month, Mumbai-based VC firm IvyCap Ventures marked the final close of its third fund at INR 2,100 Cr, with plans to invest in 25 early-stage startups.
In January, Equirus rolled out a $25 Mn early stage fund to back tech startups.
