Equirus' ₹1,500 cr fund skips loss-making D2C, signals tighter capital for consumer startups
Equirus Capital's new ₹1,500 crore PE fund (₹750 cr base + ₹750 cr greenshoe, 7-yr horizon) will back only profitable late-stage consumer, fintech and healthcare firms. Late-stage funding fell 38% to $5.6bn in FY26, while L'Oréal, HUL, Marico, Emami and ITC drive a D2C consolidation wave.
Equirus Capital's new ₹1,500 crore PE fund will back profitable late-stage consumer, fintech and healthcare companies, avoiding loss-making D2C bets. Signals tighter capital for Indian consumer startups and rising D2C consolidation via strategic acquisitions by L'Oréal, HUL, Marico, Emami, ITC.
Why this matters
Equirus' profitability-first mandate hardens the capital squeeze on D2C brands already facing a 38% drop in late-stage funding and aggressive acquisition pressure from FMCG majors like HUL, ITC and L'Oréal.
Retail-company signals steady at 3,904 over 90 days, reflecting sustained deal and consolidation activity.
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