RPSG Capital Ventures, an early-stage consumer venture capital fund, has announced an accelerator focused on direct-to-consumer (D2C) firms in partnership with Little Black Book (LBB), the company said in a statement on Thursday.
The accelerator named Basecamp has selected seven companies, which will be eligible for an investment of Rs 1.5 crore, the statement said.
The selected startups include CurryIt, a brand that offers ready-to-cook pastes in line with the preparation of Indian dishes; Born Good, a chemical-free home cleaning and laundry products company; Eat With Better, a food startup with a focus on jackfruit as an alternate vegan protein; and Plow, a food-focused brand which high protein vegetarian foods.
RPSG Capital Ventures said it plans on doing more such D2C accelerators over the next two years. Few of these companies are expected to be eligible for future investments of $4-5 million each, it added.
The venture capital firm said it is also open to making follow-on investments in the selected companies.
“At RPSG Capital Ventures, we back high-potential early-stage brands that are making in India and catering to the world. Till date, we have a 90% success rate in our portfolio, with c.100% of the revenues in our portfolio coming from online channels. We aim to extend these established playbooks to the cohort of young startups in our accelerator program and fasten their learning curve,” said Abhishek Goenka, head and chief investment officer of RPSG Capital Ventures.
RPSG Capital Ventures invests in Series A rounds in D2C firms including food and beverage, personal care, and lifestyle goods. RPSG has backed D2C brands like The Souled Store, mCaffeine, Vedix and SkinKraft.
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