Daksham Capital, a multi-family office and private wealth management group, has secured Rs 125 crore (around $13.2 million) in the first close of its maiden consumer-focussed fund, Daksham Growth Ventures (DGV) Fund I.
The fund has a target corpus of Rs 150 crore and a greenshoe option of another Rs 150 crore, taking its potential size to Rs 300 crore.
The first close, achieved shortly after receiving registration from the Securities and Exchange Board of India (SEBI) in October 2026, was anchored by family offices, high-net-worth and ultra-high-net worth families, and entrepreneurs.
DGV Fund I is looking to invest in post-product-market-fit businesses, primarily at the pre-Series A and Series A stages, with annual recurring revenue of Rs 25-75 crore and the potential to scale to Rs 300-500 crore in revenue.
The fund plans to write cheques ranging from Rs 5 crore to Rs 20 crore (around $530,000 to $2 million) across four segments: direct-to-consumer brands, consumer enablers, business-to-business-to-consumer and supply-chain businesses, and consumer-focussed artificial intelligence ventures.
“Over the last decade, we have backed consumer start-ups that went on to deliver strong outcomes. What is changing now is how consumers discover, choose and buy,” said Shivam Diwan, co-founder and managing partner of Daksham Growth Ventures.
Beyond capital, the fund will support portfolio companies with governance, financial reporting, brand positioning, leadership development and distribution expansion. It will also offer board participation, strategic guidance and access to industry networks.
DGV Fund I is led by Diwan, who has around 24 years of experience across banking, transaction advisory and investments, including structured and leveraged finance, mergers and acquisitions, and debt capital markets. He has been involved in transactions worth more than $4 billion across consumer, HR technology, fintech and healthtech.
Daksham Capital operates across family office advisory, investment solutions, global investing, investment banking advisory and structured lending. The group said its team has advised more than 600 client families and handled over $1 billion in assets during its careers at previous institutions.
The fund is registered as a Category II alternative investment fund.