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Sauce.vc launches third VC fund targeting INR 250 to support early-stage consumer brands

Investment

Sauce.vc, an early-stage venture capital firm known for backing innovative consumer brands such as Mokobara, Whole Truth Foods, Supertails and Bare Anatomy, has announced the launch of its third venture capital fund. The company aims to raise INR 250 crore (approx. USD 30 million) for this new fund, which will focus on investing in 15-16 early-stage consumer brands.

The new fund will attract capital primarily from domestic limited partners, including family offices and corporate houses with a strong interest in the consumer sector. Having received in-principle approval for the fund from the Securities and Exchange Board of India (SEBI) a few weeks ago, Sauce.vc plans to write checks in the range of Rs 3.5-4 cr, a significant increase from the Rs 2-INR. 2.5 Cr deals it has done through its previous funds.

Manu Chandra, founder and managing partner of Sauce.vc, shared insights on the firm’s updated strategy. “We are scrapping the continuity fundraising strategy and will instead invest a larger volume of tickets from the main fund itself,” Chandra told the Economic Times.

Founded in 2019, Sauce.vc has invested in over 30 companies over the past five years. Some of the prominent names in its portfolio include Mokobara, XYXX Innerwear, Innovist, Hocco ice cream, Kreo, Rockit and Perfora.

The launch comes at a time when several other venture capital firms are also launching new funds to support new-age startups. Last month, Mumbai-based IvyCap Ventures closed its third fund for INR 2,100 crore with plans to invest in 25 budding startups. Similarly, in January, Equirus launched a $25 million seed fund aimed at supporting technology startups.

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Launched in 2019, Sauce.vc’s first fund had a target corpus of INR 60. The company’s second fund, launched in 2021, had a fund size of INR 158. Most recently, Sauce Continuity Fund was closed with a corpus of INR 263 Cr.

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