Godrej Consumer Products Limited (GCPL) today announced that it 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.
Momin-Interview 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. Enabling companies 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.
Commenting on the development, Omar Momin, Head 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. We intent to leverage our understanding of consumer space and learnings over the last decades to enable early-stage founders focused on building strong offline as well as online presence by offering differentiated products in India.”
He further added, “I would urge new-age companies in these categories to connect with and leverage Spring’s expertise and experience across the spectrum of brand building, manufacturing, product development, distribution and future capital raises.”
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.
Godrej Consumer Products is a leading emerging markets company. As part of the 125-year-young Godrej Group, we are fortunate to have a proud legacy built on the strong values of trust, integrity, and respect for others. At the same time, we are growing fast and have exciting, ambitious aspirations.
We are at the forefront of serving the hair care needs of women of African descent, the number one player in Hair Colour in India and Sub-Saharan Africa, and among the leading players in Latin America. We rank number two in Soaps in India and are the number one player in Air Fresheners and Wet Tissues in Indonesia.
Approximately 23 per cent of the promoter holding in our Group is held in trusts that invest in the environment, health, and education. We are also bringing together our passion and purpose to make a difference through our ‘Good & Green’ approach to create a more inclusive and greener India.