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Mumbai: Unilever, world's second largest consumer goods company, is setting up venture capital fund to invest in India. They have established Unilever Corporate Ventures model for developed countries and wants to leverage the model in India and China, reports Mint.
They are currently operating in London and will shortly shift base to India. They already have formed the team who will be managing a corpus of around $150 million to $200 million initially. The intent of the fund is to raise money from third parties and invest in small and mid size companies in areas such as media, technology and other business area. Unilever is a FMCG company with presence in more than 100 countries across the world with annual sale of about 44 billion Euros in 2011.
With two funds already operating since 2002, Unilever Technology Ventures, a North America-focused fund, based in California, that invests in life sciences, materials science, clean technology and consumer-related technology. Another one being the Langholm Capital, which is a London-based fund that is part-funded by Unilever, manages around 250 million Euros and invests in mid-market private firms in high-growth consumer sectors across Western Europe.
With more and more VC Funds being setup in India, it triggers the rate of growth of the market and emphasizes on the other spaces, which was originally dominated by technology firms. Other players in this space are Pantaloon Retails' Future Ventures India and Godrej Industries' Godrej Agrovet who are two corporate-backed vc firms focused on consumer markets.
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