India-focused venture capital fund Gruhas has joined hands with new age media leader Collective Artists Network to create the Gruhas Collective Consumer Fund with an initial investment fund of 150 Crore rupees ($18.29 million), dedicated to fostering innovative consumer brands.
Gruhas said in a statement on Wednesday that the fund aims to spearhead a transformative era in India’s entrepreneurial landscape.
It said this landmark alliance, where media, sports, entertainment, and venture capital converge, stands as a pivotal milestone in the country’s business ecosystem to power consumption.
In a resounding commitment to nurture innovation and catalyze economic growth, it said this partnership is poised to be a game-changer for India’s consumer products segment.
“In an era propelled by the burgeoning consumer economy, this alliance holds profound significance in driving innovation and ushering transformative change across India’s business fabric,” said Vijay Subramaniam, Founder and Group Chief Executive Officer of Collective Artists Network.
“”Our collaboration with Gruhas marks an exciting journey, leveraging our collective expertise to provide a springboard for exceptional access within the media ecosystem, empowering them to redefine India’s entrepreneurial landscape,” he added.
Backing this venture capital endeavour, Nikhil Kamath, Co-Founder Gruhas, emphasized, the Indian consumer landscape is primed for transformation.
“The partnership between Collective and Gruhas represents an unprecedented opportunity as we unite to cultivate a new wave of brands poised to redefine and resonate with the dynamic Indian consumer,
“Our ultimate goal is to pave the way for the next chapter in India’s growth narrative,” he added.
According to the statement, the alliance’s initial investments signal a resounding endorsement of groundbreaking ventures like a trailblazing sexual wellness brand and an innovative innerwear company among others.
It said these strategic investments reinforce the dedication to supporting transformative ideas across various segments within the burgeoning creator economy.
“This transcends mere collaboration; it’s a paradigm shift for India’sstartup ecosystem. Imagine Silicon Valley’s cutting-edge thought leadership merging with the star power of Hollywood- that’s the magic we’re unlocking with this partnership in India,
“With Gruhas Collective Consumer Fund (GCCF) we are building the bridge to Bangalore and Entertainment to scale entrepreneurship like never before,” said Abhijeet Pai, Co-founder and General Partner, Gruhas.
As this venture continues to expand its footprint, Gruhas said it serves as a catalyst for dynamic transformation within India’s business sphere, cultivating an environment where groundbreaking ideas thrive, shaping and redefining the nation’s economic landscape.
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