FMCG major Godrej Consumer Products Ltd (GCPL) on Thursday said the company will be investing Rs 100 crore in Early Spring, a new Rs 300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).
GCPL will anchor the fund in addition to offering its expertise and experience to help founders build strong, sustainable companies.
Spring is creating a skin-in-the-game, brand-first investment franchise that aims to back and support founders who are building the brands of tomorrow, the company said.
Enabling companies to leverage marketing expertise along with capital, Spring’s first fund of Rs 150 crore continues to invest in companies at Series A and beyond. The Early Spring Fund will be investing Rs 5 crore to Rs 20 crore in each company, from seed to pre-series A stage, it said.
Omar Momin, head of M&A, GCPL said, “In sync with GCPL’s purpose of bringing the goodness of health and beauty to consumers, we are excited to collaborate with new-age companies in the home & personal care and health & wellness space along with Spring Marketing Capital.”
Spring is helmed by a trio of founders – Raja Ganapathy, Arun Iyer, and Vineet Gupta – who bring together decades of investing and brand-building experience.