Wipro Consumer Care Ventures is significantly expanding its investment approach by increasing cheque sizes to ₹10-30 crore from its previous strategy of ₹12-14 crore. According to reports from Mint, the venture firm plans to participate in pre-series A, series A and series B rounds while diversifying beyond its core categories of personal care, home care, wellness, and nutraceuticals. The firm will now include pet care, appliances and packaged foods in its investment portfolio.
The company has already made an investment in Singapore-based DSG Consumer Partners—a venture-capital firm focused on the consumer sector in India and Southeast Asia—through its first fund. As reported by Mint, managing partner Sumit Keshan stated the firm is open to investing in other funds focused in the consumer sector, seeking similar synergies as DSG Consumer Partners. The firm's ₹250-crore second fund recently made its first investment in Moi Soi, a pan-Asian food and beverage brand.
According to Mint reports, nearly 85% of the first fund was deployed in fresh investments, while the remaining was used for follow-on bets in companies such as LetsShave, Anveshan and Soulflower. The company has invested in wellness startups including Indonesia's Youvit and Singapore's Moom. Keshan indicated the firm is actively scouting for deals in Indonesia, Malaysia, the Philippines and Vietnam for the second fund, with plans to deploy faster due to larger deal sizes and higher investment numbers.
As reported by Mint, Wipro Consumer Care Ventures is preparing for at least two exits over the next 18 months, having already exited MyGlamm and partially exited Ustraa, selling some shares to VLCC. The consumer goods firm has an active M&A trajectory, having invested over $1 billion on acquiring brands in various markets over the past two decades. In April 2023, it acquired Kerala-based packaged foods brand Brahmins and personal care brands Jo, Doy, and Bacter Shield from VVF (India) Ltd.
