Venturi closes debut SE Asia, India consumer fund on $175m

The vehicle launched in early 2020 with a target of USD 150 and achieved a first close of USD 100m in June of that year. There are three cornerstone LPs: Peugeot family-controlled Peugeot Invest, Belgian investor Ackermans & van Haaren, and Frederic De Mevius, founder of Verlinvest and part of the family group behind Anheuser-Busch InBev.

LP commitments were also secured from European and Asian family offices during a fundraising process that coincided almost entirely with COVID-19. “We did one trip to Europe and then everything shut down,” said Nicholas Cator, managing partner of Venturi, in a statement. Cator previously spent 13 years at Verlinvest, latterly as a managing director based in Singapore.

The firm focuses on growth-stage opportunities, typically Series B to D rounds, where it can write equity cheques of USD 10m to USD 40m for interests of 5% to 10%. The goal is to create a relatively concentrated Fund I portfolio comprising approximately eight investments. There is scope for co-investment to match fund commitments in follow-on rounds, increasing Ventur’s firepower.

The firm is targeting start-ups across Southeast Asia and India in areas such as social commerce, online grocery, education technology, and healthcare technology. About 30% of Fund I has already been deployed in three investments, including Singapore-based interior design business Livspace and Muslim-focused personal and beauty care player Believe.

On announcing the first close, Venturi said it would donate at least 1% of its revenue to support two Asia Foundation programs, one focused on female empowerment and education and the other on tackling climate change. In addition, the team members will donate “a meaningful part of their carried interest” to charities in the region.

Earlier this month, DSG Consumer Partners, which makes early-stage consumer investments across India and Southeast Asia, reached a first close of approximately USD 63m on its fourth fund. The overall target is USD 120m. Verlinvest is a longstanding LP.

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• Topics
• Southeast Asia
• South Asia
• Fundraising
• GPs
• Consumer
• Growth
• India
• Venturi Partners
• Fundraising