Delhi-NCR-based multi-family office and wealth management group Daksham Capital has launched its maiden consumer-focused investment fund, Daksham Growth Ventures (DGV) Fund I, securing Rs 125 crore in its first close against a target corpus of Rs 150 crore and an additional Rs 150 crore greenshoe option.
The fund, which has a potential corpus of Rs 300 crore, received registration as a Category II Alternative Investment Fund (AIF) from the Securities and Exchange Board of India (SEBI) in October 2026. Its first close was backed by family offices, high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs) and entrepreneurs.
Led by Shivam Diwan, Co-founder and Managing Partner of Daksham Growth Ventures, the fund plans to invest ₹5 crore to ₹20 crore each in 10-15 startups, primarily at the pre-Series A and Series A stages.
Daksham Capital's Investment Strategy
DGV Fund I will focus on consumer businesses that have established product-market fit and demonstrate sound unit economics.
The fund will typically evaluate companies with annual recurring revenue (ARR) of ₹25-75 crore and the potential to scale their annual revenue to ₹300-500 crore.
Its investment mandate covers four broad segments: direct-to-consumer (D2C) brands, consumer enablers, B2B2C platforms and supply-chain businesses, alongside consumer-focused companies using artificial intelligence (AI).
The fund expects direct consumer businesses to account for around 50-70% of its investments. The remaining capital will be allocated to businesses supporting the consumer ecosystem, including contract manufacturers, sourcing companies and supply-chain platforms.
Its target categories include food and beverages, apparel, snacking, beauty and personal care, accessories, jewellery and bags.
DGV is also open to select later-stage investments, particularly in companies that could approach public-market listings within the next two to three years. Such investments are expected to largely involve secondary transactions.
Focus On Capital-Efficient Consumer Businesses
Beyond funding, DGV plans to work closely with portfolio companies on corporate governance, financial reporting, brand positioning, leadership development and distribution expansion.
The fund also intends to provide board-level participation, strategic guidance and access to industry networks.
The investment strategy reflects a focus on businesses with established demand and relatively stronger unit economics rather than startups relying primarily on aggressive customer acquisition and cash-intensive expansion.
According to Diwan, the fund is already evaluating opportunities across food and beverages, accessories, B2B2C businesses and selected D2C brands. It has not made any investments yet.
DGV also sees opportunities in consumer-facing AI applications, particularly in product discovery, personalisation, customer acquisition and fulfilment. However, its focus will remain on consumer businesses using AI rather than standalone deeptech or AI ventures.
Daksham Capital's Expansion Into Startup Investments
Daksham Growth Ventures is the dedicated growth investment platform of Daksham Capital, which operates across family office advisory, wealth management, global investing, investment banking advisory and structured lending.
The group said it has advised more than 600 client families and previously managed assets exceeding $1 billion.
The launch of DGV Fund I adds another pool of institutional capital targeting India's consumer ecosystem, where investors are increasingly looking at businesses with established product-market fit, stronger contribution margins and sustainable growth models.
For emerging consumer brands, the fund's Rs 5-20 crore investment range could provide growth capital to expand distribution, strengthen operations and build their brands.
With ₹125 crore already secured, DGV has achieved more than 80% of its initial ₹150 crore target in the first close, while continuing to raise capital towards its full potential corpus of ₹300 crore.
