Deepak Shahdadpuri-led investment firm DSG Consumer Partners has roped in Belgium-based investment holding company Verlinvest as a Limited Partner in its second fund – DSGCP II, as per a report in The Economic Times.
Verlinvest, which manages assets of about $1 billion, prefers making direct investments, thus this move is unusual for the company.
This will be the third time that VerInterest will back an Asia-focused fund. It had earlier come on board as a LP in Singapore-based, India-focused mid-market private equity firm Everstone Capital Advisors‘ second fund, and Shanghai-based ClearVue Partners‘ maiden fund.
“For us clearly, India is our largest market in the region, and we are actively looking for opportunities in the country, and that is why we have partnered with Deepak in his latest fund, because we feel that over the next 3-4 years, it will bring us opportunities to back high-growth consumer companies,” Nicholas Cator, executive director at Verlinvest, told The Economic Times.
Apart from Verlinvest, existing backers from the first fund including Sameer Sain, co-founder of Everstone Capital Advisors, Alok Oberoi, co-founder of asset management firm ACPI Investments and Saama Capital founders Ash Lilani and and Suresh Shanmugham, have invested in this latest fund in their personal capacities.
DSGCP II has already started investing from the new investment entity, having participated in a Rs 31 crore funding round in in cold press juice brand, Raw Pressery, last month, along with Sequoia Capital and Saama Capital.
“We are actively working on another half a dozen deals and expect to announce one or two more in the next month or two,” Shahdadpuri said.
He further said that DSGCP II will follow a similar investment theme as that of Fund I, by investing in about 20 early stage companies, across the broader consumer space.
The investment firm counts was one of the earliest investors in online hotel aggregator OYO Rooms, mobile point-of-sale payment services provider MSwipe Technologies and tea retail chain Chai Point,
“We have already returned 47 per cent of Fund I from the proceeds of the full exit in Zipdial and partial exit in OYO Rooms. DSGCP II will have a more traditional offshore VC structure,” Shahdadpuri said.