Hearth Ventures launches venture fund for creative, cultural and circular economy enterprises
Securities and Exchange Board of India (SEBI), Hearth Ventures plans to deploy an estimated Rs 250-350 crore over the next 3-5 years. Backed by Vipul Jain, Technology entrepreneur, the fund has the support of early investors William Bissell — Managing Director of Fab India, and Yogesh Chaudhary – Director at Jaipur Rugs. Hearth Ventures is founded by Vinayak Kamath, Shefali Chhachhi and Vipul Jain.
The team aims to achieve its first close of Rs 100 crore by the end of 2023. “We see a $120 billion domestic market and a $1.5 trillion global market for the creative and cultural sector with many tailwinds. This sector not only presents a significant economic opportunity, but also impacts several SDG’s.
Our research, investments made to date and the deal pipeline validates our thesis that there are many great entrepreneurs in the sector who can build profitable and fast-growing businesses. This sector remains critically underserved for growth capital and we hope to change that and pave the way for building a vibrant start-up ecosystem” said Vipul Jain, Founding Partner, Hearth Ventures. Commenting on his support to this new venture fund, William Bissel, Managing Director of Fab India said Hearth’s mission to invest in and support cultural and creative industries gain access to markets and scale is a vital one.
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