Prath Ventures, a venture capital firm specialising in consumer-centric businesses, has concluded its second close, securing Rs 120 crores. The round saw participation from SIDBI Funds of Funds along with various prominent founders and family offices.
Co-founded by Piyush Goenka and Harmanpreet Singh, the firm focuses on the Seed to Series A stage and has already made three investments since its inception. This includes beverage maker Jimmy's COCKTAILS and yet unannounced investments in consumer brands in the lifestyle and travel sector.
Former partners at Tano Capital and Multiples Private Equity respectively, Goenka and Singh bring a wealth of experience and a track record of having invested over Rs 1700 crores in their careers. They have been involved in many successful consumer businesses including Safari Industries, PVR, Good Glamm Group, Vastu Housing, and others.
"Our unique value proposition lies in our ability to blend venture capital agility with the discipline and rigor of private equity," commented Harmanpreet Singh, co-founder of Prath Ventures. "The fund will seek to deliver the best of Indian Consumption Opportunity to our LPs while adhering to the highest standards of institutional fund management.”
Piyush Goenka, co-founder of Prath Ventures, said, "Our investment philosophy is rooted in our deep understanding of the consumer sector and our unwavering commitment to value creation. By providing early-stage companies with not just capital but also strategic guidance and operational support, we aim to catalyze their growth trajectory and unlock their full potential."
According to a Morgan Stanley report, India's consumption is expected to surpass $4 trillion by 2030, creating a fertile ground for investment opportunities.
Goldman Sachs, in its report titled "The Rise of 'Affluent India'", stated that India's real GDP is projected to grow by over 6 percent annually from 2023 to 2028. Additionally, it noted that by 2027, the number of affluent consumers is expected to rise from approximately 60 million in 2023 to 100 million.
