Fireside Ventures' consumer brand startups cross $1 bn in total market-cap

The venture capital firm founded by top investor Kanwaljit Singh has also closed its second fund Fireside Fund II at Rs 863 crore

Fireside Ventures, a venture capital firm founded by top investor Kanwaljit Singh, has closed its second fund Fireside Fund II at Rs 863 crore. The coronavirus pandemic has accelerated the business of Fireside’s portfolio of  22 consumer brand startups, which have crossed a total portfolio market-cap of $1 billion. A digital-first approach played a key role for them to reach out to the consumers. The pandemic further validated the Fireside investment thesis of investing in digital-first consumer brands.

“We saw interesting pivotal points (during the pandemic) which benefitted a lot of our brands. We saw consumer behaviour shifting more towards