NEW DELHI: DSG Consumer Partners (DSGCP), the Deepak Shahdadpuri-led consumer-focused investment firm, has launched its third flagship fund, while also announcing a buildout investment vehicle to back select portfolio companies.

DSGCP-III, the new fund from the Singapore-based Shahdadpuri, is expected to be a $60 million fund, which has made its first close at $30 million. Fund-III counts Verlinvest, the Belgium-based family office of the founding families of Anheuser-Busch In-Bev, and Nigeria-based diversified conglomerate Kewalram Chanrai Group, among its anchor investors.

“There has been strong demand, and we have been speaking to our existing investors. But we also expect 2-3 new investors to participate in fund-III,” Shahdadpuri told ET over the phone. “The limited partner profile will be a mix of institutions across Europe, Singapore USA, and family offices.”

This will be the second successive instance of Verlinvest anchoring a fund launched by Shahdadpuri. The Belgian family office, which manages assets of about $1 billion globally, had earlier backed the $50 million DSGCP-II, which was launched in March 2017.

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ely, DSGCP is also launching its second buildout or growth fund that will focus on backing top companies in its portfolio.

“The buildout fund is geared to invest in about 10 companies—primarily from fund-I and some from fund-II, and we will not invest outside the fund,” Shahdadpuri said.

The flagship fund will invest between $500,000 and $2 million in an estimated 20 ventures over a three-year lifecycle. Shahdadpuri said DSGCP has stopped placing fresh bets from fund-II, with the rest of the corpus dedicated towards making follow-on investments.