It's a one in a million team. They will never say it so I must!
These numbers from scratch in an offline-trade heavy biz with the complexity of a frozen supply chain in India, is unreal.
Definitely a 'sweet' ride for us @SauceVc 🙃
A small cart from Ahmedabad created the 1,000 Cr Havmor brand, with the family now audaciously re-attempting ice cream glory with Hocco:
- Satish Chona made ice cream creatively on a cart in Karachi in 1944
- Post-Partition, lost everything struggled in Dehra Dun and Indore
As we complete 5 years, keen to double down on what’s working for us - @SauceVc is now raising a 3rd small fund to do super early (pre revenue) bets in India’s exciting consumer market. Wish us luck 🙏🏼
@ZoebAliKhan@YashDholakia
💰 Consumer-focused investor @SauceVc, which has backed new-age luggage brand @my_mokobara, healthy foods startup The Whole Truth and petcare firm @Supertails_IND, has launched its third fund with a target to raise Rs 250 crore, founder & managing partner @Manu_Chandra told ET 🧵
My guesstimate is that in 10 yrs when these mobile-only teens move to spending, this number for legacy cpg giants should be 25-30% and for new age brands 50-60% (remaining from d2c and marketplaces). Outlook weak for those who have built with offline distribution as a prime moat
Fantastic to see Indians leading not just the biggest tech cos but also consumer giants globally!
Shailesh Jejurikar: Procter & Gamble's next CEO is an IIM Lucknow graduate & Satya Nadella's classmate