Daksham Growth Ventures marks first close of debut consumer fund

Daksham Growth Ventures (DGV), the growth investment arm of wealth management firm Daksham Capital, has raised Rs 125 crore in the first close of its debut consumer-focused fund, DGV Fund I.

The fund, registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund (AIF), has a target corpus of Rs 150 crore. It also carries a greenshoe option of an additional Rs 150 crore, which could take its total size to Rs 300 crore.

The first close saw participation from family offices, high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs) and entrepreneurs. The fund reached this milestone soon after securing SEBI registration in October 2026.

Led by Co-Founder and Managing Partner Shivam Diwan, DGV Fund I will invest in early-growth consumer businesses, primarily at the pre-Series A and Series A stages.

The fund plans to deploy between Rs 5 crore and Rs 20 crore per company, targeting businesses with established product-market fit and sustainable unit economics. It will focus on companies generating annual recurring revenue (ARR) of Rs 25-75 crore, with the potential to grow their revenue to Rs 300-500 crore.

Its investment focus covers four segments: direct-to-consumer (D2C) brands, consumer enablers, B2B2C and supply chain businesses, and AI-led consumer companies.

Apart from extending financial capital, DGV will work closely with portfolio companies on governance, financial reporting, brand positioning, leadership development and distribution expansion. It will also offer board-level participation, strategic support and industry connections to help businesses strengthen their operations and scale.

Daksham Capital provides services across family office advisory, investment solutions, global investing, succession planning, investment banking advisory and structured lending. The group has advised over 600 client families and previously managed assets worth more than $1 billion.

Other consumer focused venture capital funds in India include Fireside Ventures, DSG Consumer Partners, Sixth Sense Ventures and Sauce.vc.