NEW DELHI, April 7 (PTI): MCG major Godrej Consumer Products Ltd (GCPL) has announced investing Rs 100 crore in Early Spring, a new early consumer fund set up by Spring Marketing Capital (Spring). Spring is creating a brand-first investment franchise that aims to support founders who are building the brands of tomorrow. The Godrej group’s FMCG arm GCPL will anchor a new Rs 300 crore early-stage consumer fund being set up by Spring, in addition to offering its expertise and experience to help founders build strong, sustainable companies. ‘‘Enabling companies to leverage marketing expertise along with capital, Spring’s first fund of Rs 150 crore continues to invest in companies at Series A and beyond. The Early Spring Fund will be investing Rs 5 crore to Rs 20 crore in each company, from seed to pre-series A stage,’’ it said.
Commenting on the development, Omar Momin, head M&A, said this is in sync with GCPL’s purpose of bringing the goodness of health and beauty to consumers. ‘‘We intend to leverage our understanding of consumer space and learnings over the last decades to enable early-stage founders focused on building strong offline as well as online presence by offering differentiated products in India,’’ he said.GCPL ranks among the largest Household Insecticides, Air Care and Hair Care players in emerging markets of India, Indonesia, and Africa.
