Daksham Capital, a multi-family office and wealth management group, launched Daksham Growth Ventures Fund I. The consumer-focused fund has a target corpus of ₹150 crore and a ₹150 crore greenshoe option. It marked a first close at around ₹125 crore with support from family offices, HNIs, UHNIs, and entrepreneurs.
Fund strategy
The fund plans to invest in 10 to 15 startups. Checks will range from ₹5 crore to ₹20 crore. It will primarily back Pre-Series A and Series A companies, with select later-stage investments.
Leadership and registration
The fund is led by cofounder and managing partner Shivam Diwan. It registered as a SEBI Category II alternative investment fund last month. Its mandate spans D2C brands, consumer enablers, B2B2C platforms, supply-chain businesses, and AI-driven consumer services.
Investment criteria
The fund evaluates startups with annual recurring revenue of ₹25 crore to ₹75 crore. It targets businesses with potential to scale annual revenue to ₹300 crore to ₹500 crore. It accepts companies with positive or neutral contribution margins, even if they are loss-making at the EBITDA level.
The fund has not made an investment yet. It continues to raise capital toward its target, including the greenshoe option. It is evaluating startups in food and beverages, accessories, B2B2C segments, and a few D2C brands.
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