DSG reaches $35m first close on second fund - report

The fund, DSG Consumer Partners II (DSGCP II), has a target of $40 million and a hard cap of $50 million, according to The Economic Times. LPs in the fund include Verlinvest, an investment holding company created by the founders of Anheuser-Busch InBev, along with a number of personal commitments from PE investors such as Everstone co-founder Sameer Sain and Saama Capital founders Ash Lilani and Suresh Shanmugham. DSG founder Deepak Shahdadpuri said that about 60% of the capital raised so far has come from new investors.

DSGCP II, like its predecessor, will invest in early-stage companies in the consumer sector, with a particular focus on health, fitness, fintech, consumer goods, and food processing. The firm plans to invest in around 20 companies; its first deal, a INR310 million ($4.5 million) Series B round for juice maker Raw Pressery alongside Sequoia Capital and Saama Capital, was completed in February.

Earlier investments by DSG include Series B and Series C rounds for mobile payments developer Mswipe, both led by Matrix Partners. DSG also led the Series A and Series B rounds for specialty food ingredients maker Veeba Food Services, and participated in a further $6 million round for the company led by Saama.

Among the GPs to have raised early stage-focused India funds in recent months are Sequoia, which closed its latest fund at $920 million in February; Lightspeed Venture Partners, which raised $135 million for its debut India vehicle in August; and IDG Ventures, which launched its third India fund in February with a target of $200 million.

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• Topics
• South Asia
• Fundraising
• GPs
• Early-stage
• Consumer
• India
• Growth capital