The fund

Two Funds. Investing in the most exciting consumer brands of India.

Fund thesis

We believe the India consumer story is only just unfolding. A growing middle class, a premiumisation trend, an aspirational youth and a robust digital ecosystem gives us conviction on the consumer sector. We strongly believe that the next generation of consumer brands will be born in India.
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We value authenticity and admire the tenacity it takes to turn an idea into an enduring brand-led business. We back founders who challenge the status quo by helping them unlock their brand’s potential. We do this through combining the power of capital with our marketing expertise.

Fund 1

Launch: Sep 2021

Spring Fund

We invest in growth-stage companies that have achieved product market fit, and where ‘brand’ will be a key lever for growth. We aim to invest INR 7-15 Cr of capital in each of our investee companies.
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Along with the capital infused, Spring also provides its brand marketing team to the investee company. During the period of the investment, the marketing team works closely with the founder to define, develop and deploy the brand narrative. We work as an extended marketing team for the business and help the founder in identifying marketing interventions that will impact the business and brand.

Fund 2

Launch: May 2022

Early Spring Fund

Early Spring partners with early-stage companies that are yet to achieve product-market fit and are seeking capital and mentorship to build and excel in their business. We aim to invest INR 5-10 Cr of capital in each of our portfolio companies, with the provision of additional infusion as follow-on investment.

We collaborate with founders on key functional areas and guide them through their marketing and distribution challenges. Along with the investment, we also provide founders with access to an advisory platform that consists of a network of marketeers, founders, execution partners and functional experts to help businesses overcome some of the early challenges consumer brands face. Companies also have access to the Spring marketing team for foundational brand work.

INVESTMENT Portfolio

Early Spring fund

2024

Founding Team

Mansi Baranwal, Aditya Mukherjee

Twinkle Uppal, Saharsh Agarwal

Spring Fund

2024

Founding Team

Abhishek Ganguly, Amit Prabhu, Atul Bajaj

Early Spring fund

2024

Founding Team

Ria Mittal, Shreya Mittal

Spring Fund

2023

Founding Team

Ishendra Agarwal, Nikita Prasad, Sachin Shetty

Spring Fund

2023

Founding Team

Akshay Chaturvedi, Aman Arora, Digvijay Gagneja

Spring Fund

2023

Founding Team

Vinay Bagri, Virender Singh

Early Spring fund

2023

Founding Team

Sachin Parikh, Anvi Shah, Neehar Modi

Spring Fund

2022

Founding Team

Nishchay AG, Misbah Ashraf

Spring Fund

2022

Founding Team

Hitesh Kakrani, Jatin Kakrani

Spring Fund

2021

Founding Team

Revant Bhate, Dhyanesh Shah

Spring Fund

2021

Founding Team

Megha Asher, Pritesh Asher

Spring Fund

2020

Founding Team

Manish Taneja, Rahul Dash

Fund team

Arun Iyer

Founding Partner

Raja Ganapathy

Founding Partner

Vineet Gupta

Founding Partner

Sanjeev Vaidyanathan

Investment Partner

Kaushik Dasgupta

Head - Investments

Rohan Talati

Portfolio Partner & Founding Team

Antara Raychaudhury

Associate VP, Investments

Natasha Dhinda

Investment Associate

Vatsal Khullar

Investment Associate

Anurag Sheth

Investment Analyst

FAQs

Does Spring invest capital, or does it take equity in lieu of consulting fees?

The Spring Marketing Capital Fund (‘Spring Fund’) and the Early Spring Fund are SEBI registered Category II AIFs (Alternative Investment Funds). We invest capital in companies to acquire a stake in them.

What will the Funds offer its investee companies, apart from providing capital?

Apart from being a financial investor, we work alongside founders and management teams to leverage our extensive marketing experience and expertise, as is required in the situation. We collaborate with the founders of our investee companies to build and grow their brand.

Who are the investors backing Spring Fund?

The investors backing the Spring Fund include entrepreneurs, VCs, family offices, advertising film makers, marketing professionals and consulting partners. Verlinvest SA, a leading global consumer focussed family fund with wealth from some of the families behind AB InBev is our anchor investor and strategic partner. Our investors come from different parts of the consumer ecosystem from around the world.

Who are the investors backing the Early Spring Fund?

The investors backing the Early Spring Fund include corporate houses, family offices, entrepreneurs, VCs, media and marketing professionals, and consulting partners. Godrej Consumer Products Limited, a leading FMCG company is our anchor investor and strategic partner. Our investors come from different parts of the consumer ecosystem from around the world.

What is the expected size of each investment?

We aim to invest INR 7-15 Cr in each of our investee companies from the Spring Fund. Further, we aim to invest approx. INR 5-10 Cr in each of our investee companies from the Early Spring Fund, with additional follow-on investments in some portfolio companies.

Which sectors and stages does Spring Fund invest in?

Through the Spring Fund, we make investments in companies that are looking to build brands in India. As a result, we will target consumer facing businesses in sectors like consumer goods and services, financial services, healthcare, and technology. We are not restricted by the funding stage or round. However, we will never be the first institutional investor in a company and ideally will invest along with one of our identified partner VCs.

Through the Early Spring Fund, we invest in companies that are at ideation or seed or early growth stage of their life cycle. A significant proportion of the Fund will be targeted towards investing in companies engaged in sectors such as home, personal care, health & wellness, etc. We may be open to leading investment rounds or co-investing alongside other partners.

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