Verlinvest on board as anchor investor in Spring Marketing Capital’s maiden fundJan 16, 2020
Spring Marketing Capital will partner with certain venture capital firms to invest between $1 million and $2 million, and follow up to $3 million in select companies.
Spring Marketing Capital has roped in Belgian investment holding company Verlinvest as an anchor investor in its maiden fund.
The Mumbai-headquartered branding and marketing-focused firm, which will also invest in early-stage, consumer-facing startups, was launched last year by Raja Ganapathy, the former chief marketing officer of Sequoia Capital India, along with two seasoned advertising professionals — Vineet Gupta, ex-group chief executive of DDB Mudra and Arun Iyer, former chairman of Lowe Lintas.
Spring Marketing Capital’s debut Sebi-registered, Category-II fund, which has a target corpus of $30 million, also has other prominent investors, including Abhay Pandey, general partner at consumer-focused venture capital firm A91 Partners and Amrish Rau, former PayU India chief executive, as its Limited Partners.
“We back entrepreneurs who are creating a new consumer revolution by using brand as their main tool,” Arjun Anand, principal at Verlinvest, the investment holding company of the founders of global beverages giant Anheuser-Busch, told ET.
“We typically look for authentic and passionate brand stories, and highly entrepreneurial partners to work with. We saw a huge like-mindedness between what Verlinvest does, and what Spring Capital is doing with their maiden fund,” Anand added.
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