Wipro Consumer Care Ventures is shifting its investment strategy to enhance its reach in India and Southeast Asia. Managing partner Sumit Keshan revealed that the firm intends to invest larger amounts, ranging from ₹10 crore to ₹30 crore, compared to its previous range of ₹12 crore to ₹14 crore. This move aims to facilitate participation in pre-series A, series A, and series B funding rounds.
In addition to its core sectors like personal care and wellness, the firm is looking to branch out into new areas such as pet care, appliances, and packaged foods. Wipro Consumer Care Ventures has already invested in DSG Consumer Partners, a venture-capital firm focused on the consumer sector in these regions.
Investment Focus and Strategy
Keshan emphasized the importance of sectoral expertise and geographic alignment in their investment strategy. The firm is actively scouting for opportunities in countries like Indonesia, Malaysia, the Philippines, and Vietnam as part of its second fund, which has recently begun deploying capital after operational delays.
With 85% of its first fund already invested in startups like Gynoveda and Goofy Tails, the venture arm is now poised to accelerate its investment pace with the second fund, aiming for larger deals and a higher number of investments.
Exit Plans and M&A Activities
Wipro's venture arm is also preparing for at least two exits in the next 18 months, having already exited MyGlamm and partially exited Ustraa. Keshan, who also oversees mergers and acquisitions for Wipro's FMCG business, noted that the company has a robust M&A strategy, having invested over $1 billion in brand acquisitions over the past two decades.
Recent acquisitions include Kerala-based packaged foods brand Brahmins and personal care brands from VVF (India) Ltd. Keshan stated that the firm maintains specific criteria for integrating venture-backed companies into its corporate structure, although these conditions are not predetermined at the time of investment.
