**Wipro Consumer Care Ventures Plans Strategic Exits and New Investments**
Wipro Consumer Care Ventures, the venture capital division of Wipro Consumer Care & Lighting, is preparing to divest some of its investments from its inaugural ₹200 crore fund. The firm has successfully raised a second fund totaling ₹250 crore and aims to make three to four new investments annually, according to a senior executive.
Since launching its first fund in 2019-20, Wipro Consumer Care Ventures has built a portfolio of approximately 15 companies, including notable male grooming startups like Ustraa and LetsShave, from which it has already exited. Sumit Keshan, managing partner at Wipro Consumer Care Ventures, shared insights in a recent interview, stating, “This year we have completed three investments and may finalize another, potentially extending into the next calendar year. Our focus for the upcoming year will be on a couple of exits, having already executed one exit with Ustraa when it merged with VLCC.”
Keshan highlighted that Wipro Consumer Care Ventures was the sole investor to exit MyGlamm (Good Glamm Group) profitably. He noted, “In the early stages of a fund, the emphasis is on building the portfolio rather than focusing on exits.” Historically, the fund has invested in an average of three companies per year, gradually diversifying into sectors such as wellness, packaged foods, and pet care. The average investment size has increased from ₹12-13 crore to between ₹10-25 crore, with the firm typically acquiring a stake of less than 20% in the startups it supports.
Looking ahead, the venture capital firm plans to concentrate more on packaged foods, having recently led an investment in health food brand Anveshan. Earlier this year, it also made its inaugural investment in the pet care sector with Goofy Tails, marking its third investment of the year. The first fund has been fully deployed, while investments from the second fund are set to begin early next year.
Keshan noted a strategic shift in focus, stating, “Over the last five years, we have broadened our investment scope. Initially, we concentrated on personal care and male grooming, but we are now increasingly investing in food-related ventures, including Let’s Try, The Baker’s Dozen, and Anveshan, along with pet care.”
In addition to his role at Wipro Consumer Care Ventures, Keshan also manages mergers and acquisitions for the core FMCG business, where the company is actively expanding its food portfolio.
**FAQ**
*What sectors is Wipro Consumer Care Ventures focusing on for future investments?*
Wipro Consumer Care Ventures is shifting its focus towards packaged foods and pet care, alongside its ongoing investments in personal care and wellness sectors.
