RPSG Capital Ventures

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.

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

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

• Venture capital investing
• Consumer brand funding
• D2C ecosystem investment
• Early-stage venture capital
• Seed series A funding

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Management Fees: VC funds typically charge management fees on committed capital to cover operational costs of fund management.
2. 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

Core 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

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct 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

• LinkedInin.linkedin.com/company/rp-sg-ventures
• Xx.com/rpsgcapven

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors1 record

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M&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