RPSG Capital Ventures
RPSG Capital Ventures is an India-focused venture capital fund (Category 1 AIF) investing Seed to Series B in digital-first D2C consumer brands across food & beverage, personal care, lifestyle, beauty and wellness, managing over ₹1,000 Cr across three fund vehicles.
- Company typePrivate
- Founded2018
- HeadquartersGurugram, India
- Headcount1–10
- GTM typeB2B
- OfferingServices
What RPSG Capital Ventures does
RPSG Capital Ventures is an India-focused, consumer-obsessed venture capital fund established in 2018 as the corporate venture arm of RPSG Ventures Limited (part of the RP-Sanjiv Goenka Group). Registered as a Category 1 Alternative Investment Fund under the legal entity RP-SG Ventures Investment Trust and managed by RP-SG Ventures Advisory LLP, the firm invests across Seed, Series A and Series B stages in digital-first direct-to-consumer (D2C) brands spanning food & beverage, personal care, lifestyle, beauty, and health & wellness. Its portfolio of approximately 25 brands includes The Souled Store, mCaffeine, Supertails, Vedix, SkinKraft, Perfora, Lissun, Nutrabay, Miraggio, Asaya, MyDesignation, Good Monk, and True Elements, with the fund claiming a 70% follow-on investment rate and a 7x exit on True Elements.
The firm operates three fund vehicles—RP-SG Ventures Fund 1, RPSG Capital Ventures Opportunity Fund I, and RPSG Capital Ventures Fund II—managing over ₹1,000 crore (~$120M+) in aggregate committed capital. Fund II closed oversubscribed at ₹550 crore in January 2022 with the green shoe option exercised after demand exceeded 150% of target, and Opportunity Fund I raised $66 million in August 2024 to back Bharat-centric D2C plays. The team of approximately ten professionals is led by Managing Partner Abhishek Goenka (ex-True North, JP Morgan) and includes Partner Sambit Dash (ex-Mamaearth, Taco Bell), Principal Hersh Gulati (ex-Blume Ventures, EY), and CFO Gaurav Bindal. There are no proprietary technology products; the firm's offerings are capital plus hands-on strategic and operational support to founders building digital-first Indian consumer brands, distributed via direct investment, content marketing (LinkedIn, Musings blog), podcast appearances and PR.
RPSG Capital Ventures firmographics
Firmographics- Name
- RPSG Capital Ventures
- Legal name
- RP-SG Ventures Investment Trust
- Website
- https://rpsgcapital.vc
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- RPSG Capital Ventures is an India-focused venture capital fund (Category 1 AIF) investing Seed to Series B in digital-first D2C consumer brands across food & beverage, personal care, lifestyle, beauty and wellness, managing over ₹1,000 Cr across three fund vehicles.
- Ownership category
- akta.pro rank
RPSG Capital Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where RPSG Capital Ventures is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
RPSG Capital Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Management Fees: VC funds typically charge management fees on committed capital to cover operational costs of fund management.
- Carried Interest (Carry): Performance-based carried interest from successful portfolio company exits, typically 20% of profits above the hurdle rate.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
RPSG Capital Ventures product offering
Product offeringCore offering
RPSG Capital Ventures is a consumer-focused venture capital fund that invests in early-stage direct-to-consumer (D2C) brands across food & beverage, personal care, and lifestyle sectors in India, at Seed, Series A, and Series B stages. The fund deploys equity capital from three fund vehicles totaling over ₹1,000 crore into a concentrated portfolio of ~25 brands, and supplements capital with hands-on operational support covering hiring, brand communication, SKU strategy, and clinic/business expansion. Revenue is generated through management fees on committed capital and carried interest on successful portfolio exits.
Product overview
RPSG Capital Ventures operates as a consumer-focused venture capital fund (Category 1 AIF) investing in the D2C ecosystem across food & beverage, personal care, and lifestyle sectors. Established in 2018, the fund manages three schemes: RP-SG Ventures Fund 1, RPSG Capital Ventures Opportunity Fund I, and RPSG Capital Ventures Fund II, with over ₹1,000 Cr in capital deployed across 25 brands and 70% follow-on investment rate. The fund's portfolio spans multiple consumer categories including skincare (Asaya, Vedix, SkinKraft), personal care (mCaffeine, Perfora), wellness (Good Monk, Plix, True Elements), mental health (Lissun), pet care (Supertails), fashion accessories (Miraggio), baby care (Baby Organo), home care (Born Good), food (CurryIt), lifestyle merchandise (The Souled Store), content platforms (StyleCraze, MomJunction), sports nutrition (Nutrabay), and specialized categories like Bartisans and Rabitat. The fund provides capital and hands-on operational support to founders building digital-first consumer brands in India.
Differentiator
Problem solved
Functional benefit
Products and services
- RP-SG Ventures Fund 1 First venture capital fund vehicle of RPSG Capital Ventures, deploying equity capital into early-stage Indian D2C brands across food & beverage, personal care, and lifestyle sectors. Targeted at Seed and Series A stage founders building digital-first consumer businesses in India.
- RPSG Capital Ventures Opportunity Fund I Second venture capital fund vehicle of RPSG Capital Ventures, sized at $66 million, focused on early-stage consumer and Bharat-centric D2C investment opportunities in India. Targets Seed, Series A, and Series B stage founders.
- RPSG Capital Ventures Fund II Third (and largest flagship) venture capital fund vehicle of RPSG Capital Ventures, closing oversubscribed at ₹550 crore, investing in Indian D2C brands across food & beverage, personal care, and lifestyle sectors. Targeted at Seed, Series A, and Series B stage founders.
Quantifiable outcome
- 7x return from True Elements exit
Companies that use RPSG Capital Ventures
Customer profileSegments2 records
Ideal customer profiles2 records
RPSG Capital Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
RPSG Capital Ventures partnerships and signals
Strategic signalScale indicators7 records
Recent moves8 records
Expansion highlights5 records
RPSG Capital Ventures competitors and assessment
Company assessmentDirect peers
- Veltis Capital: Bengaluru-based consumer-focused micro-VC investing in early-stage Indian D2C startups. Co-investor in MyDesignation Series A and direct competitor for early-ticket consumer deals.
- Anicut Capital: India-based growth and early-stage fund with significant consumer/D2C exposure. Competes for similar thesis deals and maintains a comparable Seed-to-Series-B ticket profile.
- Sauce VC: Early-stage consumer VC backing Indian D2C brands in beauty, nutrition, and pet care. Repeated syndicate partner (Supertails, Baby Organo, Good Monk) and direct peer on rounds like Plix Series A.
- Fireside Ventures: India's most prominent consumer-focused VC fund backing early-stage D2C brands across food, beauty, and lifestyle. Direct head-to-head competitor for the same founder pool and similar check sizes, with Fireside holding a deeper AUM and longer track record.
- DSG Consumer Partners: Early-stage consumer and D2C investor in India/Southeast Asia with a comparable thesis and ticket size. Frequently co-invests with RPSG (e.g., Rabitat Series A) and competes for the same branded consumer opportunities.
Broad incumbents
- Elevation Capital: Large India-focused VC with a broader sector mandate but active in consumer/D2C (lead investor in The Souled Store Series B). Significantly larger AUM and a broader portfolio make it a broad incumbent in the same consumer opportunity set.
- Verlinvest: Family-office-backed consumer specialist with global reach and India exposure through consumer-brand investments. Operates as a broad incumbent in the consumer brand investing space, with larger AUM and a longer hold horizon than RPSG.
- L Catterton: Global consumer-focused PE/VC with a growing India D2C footprint. Competes for breakout consumer brands at Series B+ and represents a comparable thesis at a much larger scale.
Emerging players
- Rukam Capital: Early-stage Indian consumer brand investor focused on differentiated, founder-led brands. Overlaps with RPSG's thesis on niche, premium, digitally native consumer businesses but at smaller average check sizes.
- Multiply Ventures: Early-stage Indian fund backing consumer brands and SMB enablers. Co-investor alongside RPSG in MyDesignation and competes for early-stage consumer brand rounds in similar sectors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
RPSG Capital Ventures social profiles
Digital presenceRPSG Capital Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
RPSG Capital Ventures leadership team
Management profileNumber of profiles
Profiles9 records
RPSG Capital Ventures funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RPSG Capital Ventures M&A and investment
M&A and investmentM&A1 record
Investments34 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RPSG Capital Ventures
What does RPSG Capital Ventures do?
RPSG Capital Ventures is a consumer-focused venture capital fund that invests in early-stage direct-to-consumer (D2C) brands across food & beverage, personal care, and lifestyle sectors in India, at Seed, Series A, and Series B stages. The fund deploys equity capital from three fund vehicles totaling over ₹1,000 crore into a concentrated portfolio of ~25 brands, and supplements capital with hands-on operational support covering hiring, brand communication, SKU strategy, and clinic/business expansion. Revenue is generated through management fees on committed capital and carried interest on successful portfolio exits.
Is RPSG Capital Ventures a public or private company?
RPSG Capital Ventures is a private company. It is classified as corporate owned and is currently operating.
When was RPSG Capital Ventures founded?
RPSG Capital Ventures was founded in 2018. It employs 1 to 10 people.
Where is RPSG Capital Ventures based?
RPSG Capital Ventures is headquartered in Gurugram, India, in the Asia region.
How does RPSG Capital Ventures make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest (Carry).
Who are RPSG Capital Ventures's main competitors?
Direct peers on record are Veltis Capital, Anicut Capital, Sauce VC, Fireside Ventures and DSG Consumer Partners. Broad incumbents are Elevation Capital, Verlinvest and L Catterton. Emerging players are Rukam Capital and Multiply Ventures.
Does RPSG Capital Ventures have an API?
No public API is recorded for RPSG Capital Ventures.
What industry is RPSG Capital Ventures in?
RPSG Capital Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 5259 and its SIC code is 6282.