Fireside Ventures, an early-stage consumer-focused VC firm, announced on Tuesday that it has closed its fourth fund with a corpus of Rs 2,265 crore (approximately $253 million), as it doubles down on India’s fast-growing consumption economy.
The firm has already begun deploying the fund and plans to make about 10–12 early-stage investments each year. Fireside, which primarily backs seed and pre-Series A startups, is also increasing its follow-on participation in Series A rounds as part of its founder-first strategy to help companies scale from the ground up.
“There will be companies that find the right product-market fit in deep markets, and these are emerging fund after fund, so it is not a one-off for us. In those cases, we can see returns of 10x, 15x, and 20x. But for the bulk of our portfolio, we are modelling for a five-to-seven- or eight-times type of return. And that really drives the overall success of the strategy,” shared Kanwaljit Singh, founder & managing partner, Fireside Ventures, at a press briefing.
The firm’s first fund, still in the process of completing its exits, achieved a Distributed to Paid-In Capital of 3.6x, meaning it has already returned more than three times its value to investors.
Fireside’s current portfolio of around 60 brands now carries a combined valuation of over $7 billion and has generated $1.6 billion in revenue across companies. Additionally, about half of its portfolio startups have crossed the Rs 100 crore ARR milestone.
The Bengaluru-based fund secured commitments from a mix of global and domestic investors, including US university endowments, sovereign wealth funds from Abu Dhabi and Dubai, and major financial institutions such as HarbourVest, Waterfield, and Fidelity International. Several consumer-focused corporates—including Sharrp Ventures, Mirabilis, and Emami Limited—also participated in the fundraise.
Launched in 2017, Fireside Ventures now manages approximately $650 million in assets across its four consumer-focused funds.
