<article><a href="https://www.dealstreetasia.com/?s=FidelisWorld" target="_blank" rel="noopener">FidelisWorld</a>, an Asia-focused private equity fund, on Monday announced that it has invested an undisclosed amount in <a href="https://www.dealstreetasia.com/?s=Sequoia Capital" target="_blank" rel="noopener">Sequoia Capital</a>-backed outdoor gear maker <a href="https://www.dealstreetasia.com/?s=Wildcraft" target="_blank" rel="noopener">Wildcraft</a>.</article>

<a href="https://www.dealstreetasia.com/?s=FidelisWorld" target="_blank" rel="noopener">FidelisWorld</a>, an Asia-focused private equity fund, on Monday announced that it has invested an undisclosed amount in <a href="https://www.dealstreetasia.com/?s=Sequoia Capital" target="_blank" rel="noopener">Sequoia Capital</a>-backed outdoor gear maker <a href="https://www.dealstreetasia.com/?s=Wildcraft" target="_blank" rel="noopener">Wildcraft</a>.
Mauritius-based FidelisWorld will leverage its global network to help Wildcraft grow its business in India and internationally, said a press statement. The investment by FidelisWorld complements Sequoia Capital’s backing and the recent investment by the Flipkart Group in the company that provides it a large distribution platform for its business, it added.
As part of the investment, Rajeev Kalambi, principal at FidelisWorld, has joined Wildcraft’s board as director.
&#8220;Wildcraft’s products are targeted towards solving for outdoor needs, by addressing the region’s unique conditions around weather, terrain and distances. We are confident that Wildcraft has what it takes to replicate its formidable domestic position in this space globally,&#8221; Kalambi said.
Founded by Siddharth Sood, Gaurav Dublish and Dinesh Kaigonahalli, Bengaluru-based Wildcraft claims to be selling its products in over 175 exclusive stores and 5,000 multi-branded stores in India and abroad. It has two manufacturing units located in Bengaluru and Himachal Pradesh, respectively.
In 2013, Silicon Valley-based venture capital fund Sequoia Capital had invested Rs 70 crore in Wildcraft, which designs and manufactures rucksacks, backpacks, travel gear, sleeping bags and tents. Since then, the company has expanded its reach across the country.
The company intends to open an additional 20-30 stores each year and has its products available in South-East Asia and Middle East, as per the statement. Wildcraft faces direct competition from US-based Timberland, and also French retailer Decathlon. It also competes with leading brands such as Reebok, Puma and Nike.
Founded by former JP Morgan executive Anand S Krishnan in 2010, FidelisWorld provides growth equity capital to companies operating in the applied technology, media, and entertainment/consumer sectors across Asia. FW invested proprietary capital and operated assets in this space for three years before launching a themed investment fund, the FW Sports Investment Fund (FSIF). The FSIF began investment activities in Q4 2013 and is almost fully deployed.
The fund marked its maiden exit earlier this year by selling its entire stake in sports technology firm Techfront to Emerald Media, the pan-Asia company backed by leading global investment firm KKR, achieving an exit multiple of 2 times invested capital. FW first invested in Techfront in 2014.
According to its website, FW has plans for Fund II that will be focused on India and China.
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The company intends to open an additional 20-30 stores each year and has its products available in South-East Asia and Middle East.

Asia-focused FidelisWorld invests in Sequoia-backed outdoor gear brand Wildcraft

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Asia-focused FidelisWorld invests in Sequoia-backed outdoor gear brand Wildcraft

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