Consumer-focused early-stage venture capital firm Sauce.VC, which made the final close of its Sauce Continuity Fund in March this year, has now launched its third flagship VC vehicle.
Sauce.VC, which is an investor in men’s innerwear brand XYXX, clean label food The Whole Truth Foods, travel lifestyle accessories brand Mokobara, personal care brand Innovist and petcare platform Supertails, among others, aims to raise Rs 250 crore for the third VC fund.
The launch comes on the heels of Sauce.VC elevating its director for early-stage investing, Yash Dholakia, to a partner role. He had joined Sauce.VC in April 2022.
Sauce.VC, which is looking to invest in 15-16 early-stage companies with the third fund, had received SEBI’s in-principle approval for the category-II AIF in March, VCCircle has learned.
The firm invests in new-age disruptive consumer brands and platforms at a pre-revenue or idea stage. To date, it has invested in 21 companies from its two separate funds that were set up in 2019 and 2021.
The New Delhi-based firm launched its first fund in 2019 with a target corpus of Rs 60 crore. It launched its second vehicle in 2021 with a fund size of Rs 158 crore. Its latest Sauce Continuity Fund was closed with a corpus of Rs 263 crore.
The VC firm is currently investing from its Sauce Continuity Fund, primarily doubling down on its bets from the first and second funds.
It has already invested in XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails from the continuity fund, and is plans to add oral care brand Perfora, ice cream brand Hocco and energy drink Rockit to the list of top-ups.
