India-based leading consumer goods company, Godrej Consumer Products Limited (GCPL) has announced to invest Rs 100 crore in early spring, with an initial Rs 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.
“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 to leverage marketing expertise along with capital, Spring’s first fund of Rs 150 crore continues to invest in companies at Series A and beyond,” the statement said.
The Early Spring Fund will be investing INR 5 Crore to INR 20 Crore in each company, from seed to pre-series A stage.
Commenting on the development, Omar Momin, Head M&A, GCPL said, “In sync with GCPL’s purpose of bringing 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 intend to leverage our understanding of the consumer space and learnings over the last decades. This will enable early-stage founders to focus on building a strong offline and online presence by offering differentiated products in India.”
“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,” Momin added.
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.