Sauce.vc, a consumer-focused early-stage venture capital firm, has closed its third fund at Rs 365 crore (about. $43.6 million).
“The fund was oversubscribed by three times in four weeks, and it was tempting to raise more, but proper sizing was critical. “My apologies to all LPs who we were unable to accommodate in this fund,” wrote Manu Chandra, founder and managing partner of Sauce.vc, on LinkedIn.
The VC fund has received funding from Infosys co-founder Kris Gopalakrishnan’s family office Pratithi Investments, Marico promoter Harsh Mariwala’s Sharrp Ventures, Singularity Ventures, and Saison Capital. Domestic investors contributed 95% of the capital, with roughly 80% coming from Sauce.vc’s prior fund sponsors.
The New Delhi-based firm invests in emerging consumer brands and platforms at the pre-revenue or idea stage. To far, it has invested in 21 firms through two distinct funds established in 2019 and 2021.
Sauce.vc launched its first fund in 2019, with a target corpus of Rs 60 crore. It launched its second vehicle in 2021, with a fund size of Rs 158 crore. The latest Sauce Continuity Fund closed with a corpus of Rs 263 crore.
The company has previously invested in XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails from its continuity fund and plans to add oral care brand Perfora, ice cream brand Hocco, and energy drink Rockit to the roster of top-ups.
Sauce.vc is a venture capital fund with a strong consumer emphasis and a high-engagement strategy. It collaborates with entrepreneurs in the food and beverage, personal care, and apparel/lifestyle industries to work with businesses that are willing to disrupt the market.
