Pidilite Industries and L’Oréal helped the consumer-focused venture firm hit a $118m final close for its second fund, surpassing its $100m target in the process.
India-based venture capital firm Fireside Ventures has closed its second fund at Rs 8.63bn ($118m), raising capital from limited partners (LPs) including India-based adhesive manufacturer Pidilite Industries, VCCircle has reported.
The firm initially targeted $100m for Fireside Fund II and secured $60m for its November 2019 first close, having picking up a commitment from cosmetics producer L’Oréal’s Bold fund two months earlier.
The fund’s LPs also include Investment Corporation of Dubai, Small Industries Development Bank of India, Nippon…
