Venturi Partners, a consumer-focused fund looking to invest in India and Southeast Asia, has raised $100 million for its first close.

According to the Singapore-based company, the fund aims to raise $150 million in total. Among its anchor investors are Peugeot Invest, the investment vehicle of the French Peugeot family and one of the main shareholders of auto group Stellantis; Ackermans & van Haaren, a diversified group with interests in marine engineering, banking, real estate, and senior care; Generation P, a holding company set up by Frédéric de Mévius, founder of Verlinvest and Planet First Partners; Alexander de Wit, Planet First’s co-founder, and former executive director, Verlinvest.

Venturi Partners focuses on consumer investments in fast-moving consumer goods (FMCG), education, and healthcare services. It made its maiden investment in Livspace, an Indian online home design firm, in September last year.

“We are bringing together a small number of investors with similar values looking to participate in the Asian consumer story. Our goal is to be an investment platform for our investors and we will aim to offer up to 100% of fund commitments in co-investment opportunities,” said Nicholas Cator, managing partner at Venturi Partners.

The fund will look to back 7-8 companies with cheques ranging from $15 million to $40 million, with the goal of bridging the funding gap for companies looking to expand operations in India and Southeast Asia.

“Entrepreneurs today are looking for more than investors—they want value-add partners that understand consumers and brands,” Cator said. “Adding value to portfolio companies by being sector focused, operationally minded and supporting management teams on specific projects is now more relevant than ever.”

Venturi will donate at least one of its revenue streams to The Asia Foundation to fund two programmes in India and South-East Asia, one focusing on female empowerment and education and the other on climate change. The team will also donate a significant portion of their carried interest to local charities.

Frédéric de Mévius, Anchor Investor and Member of the Investment Committee, who has been investing with Nicholas Cator for over a decade, added, “Venturi’s consumer focus will enable a better understanding of new consumer trends, and an ability to identify tomorrow’s winning brands in the post-COVID-19 world. The accelerated shift we have seen in digital transformation and the pivot to e-commerce is in line with Venturi’s core area of focus and expertise.”