Godrej Consumer Products Limited (GCPL) announced that it will be investing INR 100 Crore in Early Spring, a new INR 300 Crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).
GCPL will anchor the fund in addition to offering its expertise and experience to help founders build strong, sustainable companies, a statement said.
Spring is creating a skin-in-the-game, brand-first investment franchise that aims to back and support founders who are building the brands of tomorrow. Enabling companies leverage marketing expertise along with capital, Spring’s first fund of INR 150 Crore continues to invest in companies at Series A and beyond. The Early Spring Fund will be investing INR 5 Crore to INR 20 Crore in each company, from seed to pre-series A stage, the statement said.
Commenting on the development, Omar Momin, Head M&A, GCPL, said: “In sync with GCPL’s purpose of bringing the goodness of health and beauty to consumers, we are excited to collaborate with new-age companies in the home & personal care and health & wellness space along with Spring Marketing Capital. We intent to leverage our understanding of consumer space and learnings over the last decades to enable early-stage founders focused on building strong offline as well as online presence by offering differentiated products in India.”
He further added, “I would urge new-age companies in these categories to connect with and leverage Spring’s expertise and experience across the spectrum of brand building, manufacturing, product development, distribution and future capital raises.”
Spring is helmed by a trio of founders – Raja Ganapathy, Arun Iyer and Vineet Gupta – who bring together decades of investing and brand building experience.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.