Sauce VC, a venture capital firm focused on consumer startups
Sauce VC, a venture capital firm focused on consumer startups, has successfully closed its third fund at Rs 365 crore (approximately $43.6 million).
The fund was highly oversubscribed, receiving three times the intended commitments within just four weeks. Manu Chandra, the founder and managing partner of Sauce VC, expressed that while it was tempting to raise more capital, maintaining the right fund size was crucial.
He also apologized to limited partners (LPs) who were unable to participate due to the fund’s capacity constraints.
The capital for this round was primarily raised from domestic investors, with 95% coming from within India and nearly 80% from existing backers of Sauce VC’s previous funds.
Notable investors include Infosys co-founder Kris Gopalakrishnan’s Pratithi Investments, Marico promoter Harsh Mariwala’s Sharrp Ventures, Singularity Ventures, and Saison Capital.
Based in New Delhi, Sauce VC specializes in investing in early-stage consumer brands and platforms, often at the pre-revenue or idea stage. Since its inception, the firm has invested in 21 companies across its first two funds, which were launched in 2019 and 2021, respectively.
The firm’s first fund had a target of Rs 60 crore, and the second fund raised Rs 158 crore. Additionally, the firm launched the Sauce Continuity Fund, closing it at Rs 263 crore.
Sauce VC has already made significant investments from the continuity fund, including in brands like XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails. The firm also plans to support additional brands such as Perfora in oral care, Hocco in ice cream, and Rockit in energy drinks.
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