Godrej Consumer Products To Invest <span Class='webrupee'>₹</span>100 Cr In Early-stage Consumer Startups
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₹100 cr in early-stage consumer startups
- GCPL will anchor the fund in addition to offering its expertise and experience to help founders build strong, sustainable companies.
FMCG major Godrej Consumer Products Ltd (GCPL) on Thursday said the company will be investing ₹100 crore in Early Spring, a new ₹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.
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, the company said.
Enabling companies to leverage marketing expertise along with capital, Spring’s first fund of ₹150 crore continues to invest in companies at Series A and beyond. The Early Spring Fund will be investing ₹5 crore to ₹20 crore in each company, from seed to pre-series A stage, it 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," said Omar Momin, head of M&A, GCPL.
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 Ltd on Wednesday reported that it expects to report mid-single digit consolidated volume growth and double-digit operating profit growth for the quarter ended March 2023.
The company said that the growth trends continue to improve sequentially, in its regulatory filing. Godrej Consumer Products said that it expects the quality of profit should see improvement, led by gross margin recovery and continued marketing investments translating to double-digit EBITDA growth.
Godrej Consumers reported 3.5 per cent rise in consolidated profit to ₹546.3 crore in the December 2022 quarter. This is against a net profit of ₹527.6 crore in the year ago period.
On Thursday, the company's scrip ended 0.21 per cent down to ₹967.6 on BSE.
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