Mumbai, 13th March, 2024 – Prath Ventures, a prominent venture capital firm specializing in consumer-centric businesses, has successfully completed its second close, raising INR 120 crores. The second close saw enthusiastic participation from SIDBI Funds of Funds and several distinguished founders and family offices.
Co-founded by Piyush Goenka and Harmanpreet Singh, Prath Ventures focuses on investments from Seed to Series A stages and has already made three strategic investments since its inception. Notable investments include beverage maker Jimmy’s cocktails and yet unannounced investments in consumer brands within the lifestyle and travel sector.
Bringing a wealth of experience from their tenure as former partners at Tano Capital and Multiples Private Equity respectively, Goenka and Singh have collectively invested over INR 1700 crores in their careers. They have a proven track record of success with investments in renowned consumer businesses such as Safari Industries, PVR, Good Glamm Group, Vastu Housing, and others.
Prior to founding Prath Ventures, Goenka and Singh built a robust portfolio through angel investments, backing over twenty startups including Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp, and others.
With a keen focus on the burgeoning consumer sector, Prath Ventures is poised to capitalize on India’s projected consumption growth. According to a Morgan Stanley report, India’s consumption is expected to surpass USD 4 trillion by 2030, presenting lucrative investment opportunities.
Harmanpreet Singh, co-founder of Prath Ventures, commented, “Our unique value proposition lies in our ability to blend venture capital agility with the discipline and rigor of private equity. The fund aims to deliver exceptional returns to our Limited Partners (LPs) while upholding the highest standards of institutional fund management.”
Piyush Goenka, co-founder of Prath Ventures, added, “Our investment philosophy is anchored in our deep understanding of the consumer sector and our steadfast commitment to value creation. By providing early-stage companies with not just capital but also strategic guidance and operational support, we strive to accelerate their growth trajectory and unlock their full potential.”
While some venture capital firms have favored enterprise and deep tech spaces, Prath Ventures remains dedicated to the Indian consumer market, joining the ranks of Fireside Ventures, DSG Consumer Partners, Sixth Sense Ventures, and A91 Partners.
Prath Ventures is actively seeking its final close in the coming months and is currently deploying funds. The firm views the current investment landscape as favorable and plans to allocate the corpus over the next eighteen to twenty-four months.
