Wipro sets up venture fund to invest in consumer brands

Wipro Consumer Care and Lighting has set up a venture fund to invest in start-ups in the consumer brands space with India and South East Asia being focus markets.

The 'Wipro Consumer Care - Ventures' will focus on companies with a differentiated approach where both parties can learn by leveraging their strengths and add value to each other.

A part of Wipro Enterprises, it has appointed Sumit Keshan, a former Wiproite, as the Managing Partner of the Ventures, it said in a statement.

"Our investment in 'Happily Unmarried' was our first step to establishing this venture capital fund. Apart from financial capital, what we bring to the table is deep knowledge of operations and the ability to scale up, and a strong understanding of consumers in India and South East Asia markets," Keshan said.

Wipro Consumer Care and Lighting operates mainly in personal care, skincare, home care, and lighting categories.

The company intends to invest in new-age start-ups in digital, e-commerce, and other ventures that adopt an innovative approach to reach consumers, it said.

It will invest in companies in India and Southeast Asia that have strong entrepreneurs and a sound business model.

In 2017, the company invested in 'Happily Unmarried' in India, which markets men's and women's grooming products under the brands 'Ustraa' and 'Happily Unmarried', respectively.