Daksham Growth Ventures Raises Rs 125 Cr for Maiden Consumer Fund

Daksham Growth Ventures has raised Rs 125 crore in the first close of its maiden consumer-focused fund, DGV Fund I. The amount covers most of the vehicle's Rs 150 crore target corpus on its own.

The fund carries a greenshoe option of another Rs 150 crore. That takes its potential size to Rs 300 crore, according to the firm's announcement.

Who backed the first close?

Family offices anchored the first close. High-net-worth individuals, ultra-high-net-worth individuals and entrepreneurs joined them. The fund reached this milestone shortly after receiving SEBI registration in October 2026.

DGV Fund I is registered as a Category II Alternative Investment Fund with the Securities and Exchange Board of India. Shivam Diwan, Co-Founder and Managing Partner of Daksham Growth Ventures, leads the vehicle.

Daksham Growth Ventures is the growth investment platform of Daksham Capital, a multi-family office and private wealth management group.

What will the fund invest in?

The fund will primarily back pre-Series A and Series A companies across India's consumer ecosystem. It plans cheque sizes of Rs 5 crore to Rs 20 crore.

The target profile is specific. DGV Fund I wants businesses that have established product-market fit and sound unit economics. It will focus on companies with annual recurring revenue of Rs 25-75 crore and the potential to scale to Rs 300-500 crore in revenue.

That spread — a Rs 5-20 crore cheque into a company already doing Rs 25-75 crore ARR — signals a growth-stage bet rather than a seed play.

The investment strategy spans four segments:

• Direct-to-consumer (D2C) brands
• Consumer enablers
• B2B2C and supply chain businesses
• Consumer-focused artificial intelligence (AI) companies

What does DGV offer beyond capital?

Money is one part of the package. DGV plans to support portfolio companies through governance, financial reporting, brand positioning, leadership development and distribution expansion.

The fund will also provide board participation, strategic guidance and access to industry networks. The stated goal is to help businesses strengthen their organisational capabilities.

Who is Daksham Capital?

Daksham Capital operates across six lines: family office advisory, investment solutions, global investing, legacy and succession planning, investment banking advisory and structured lending solutions.

The group said its team has advised more than 600 client families. It has previously managed over $1 billion in assets.

Daksham Growth Ventures is the group's dedicated growth investment platform. It focuses on consumer and consumer-allied businesses with established business models and the potential to scale sustainably.

What happens next?

The fund now moves toward its final close and initial deployments. With Rs 125 crore committed against a Rs 150 crore target, and a greenshoe that could double the corpus to Rs 300 crore, DGV Fund I has room to back roughly a dozen or more companies at its stated cheque range — a pipeline that will test the appetite of India's family offices for consumer growth assets.