Blue-chip , backed by veteran corporate leaders as well as several are among those vying to buy stakes in a slew of new that are challenging the dominance of incumbents. Flipkart-backer is in advanced discussions to invest in new-age luggage brand Uppercase valuing it at around $50-60 million, sources aware said. In February, invested in maker Mokobara, while another investment firm picked a stake in Safari Industries in March.
Separately, early-stage home and kitchen products brand has raised capital from cofounder Ramakant Sharma and others, amid a flurry of deals across segments from luggage to beauty, wellness, pet care, jewellery, food and beverages. “I have issued term sheets to two and should close them in the next few weeks,” said one venture investor who manages a portfolio of both technology and non-tech investments. A term sheet is a formal offer to invest in a business following the completion of due diligence.
12 Flags Group, the India-focused consumer fund set up by former global chief of Reckitt Benckiser Rakesh Kapoor, made its first investment in specialty coffee chain Blue Tokai Coffee Roasters last month and is in talks to conclude three to four more such deals. In March, former chief of HUL, Sanjiv Mehta, partnered with global investment firm L Catterton Asia in a consumer-focused joint venture to buy stakes in beauty and personal care, consumer tech, food and beverage, health, wellness and pet care ventures. “At least two deals are in the negotiatio.
