Originals · Startup · Startups & Fintech
Daksham Growth Ventures hits Rs 125 Cr first close on a consumer fund that can grow to Rs 300 Cr
The SEBI Category II AIF, led by Shivam Diwan, will write Rs 5 to 20 Cr cheques into pre Series A and Series A consumer brands and enablers with proven product market fit.
Daksham Growth Ventures (DGV) Fund I, the maiden consumer focused fund from multi family office Daksham Capital, raised about Rs 125 crore in its first close, Inc42, Entrackr and YourStory reported on 5 November 2026. PTI separately carried the company statement on 6 November. The fund registered as a SEBI Category II Alternative Investment Fund in October 2026.
The target corpus is Rs 150 crore with a Rs 150 crore greenshoe, taking potential size to Rs 300 crore. VCCircle said that puts the first close at over 80% of the base target. Anchors include family offices, HNIs, UHNIs and entrepreneurs. Managing partner Shivam Diwan leads the fund.
DGV plans Rs 5 crore to Rs 20 crore cheques into roughly 10 to 15 companies at pre Series A and Series A, focused on D2C brands, consumer enablers, B2B2C and supply chain firms, and consumer AI. Preferred entry is businesses with about Rs 25 to 75 crore ARR and a path to Rs 300 to 500 crore revenue. Inc42 quoted Diwan saying the fund will only enter where product market fit risk is already established, and that capital efficient growth matters more than burning cash.
The fund has not announced a first investment yet. For India's consumer startup market after a weak October funding month, a new specialist cheque writer at the pre Series A and Series A band is the practical signal: family office capital is still forming dedicated vehicles even when mega rounds are scarce.
