Kalpavriksh Fund, managed by Acorn Fund Consultants, has successfully exited its investment in direct-to-consumer (D2C) beauty and wellness brand, The Ayurveda Experience (TAE), at an impressive return of over 6x. The exit marks a significant milestone following TAE’s $27M Series C funding round earlier this year, led by Singapore-based venture capital firm Jungle Ventures, along with SIDBI Ventures, Anicut Capital and Sharrp Ventures.
Investment Journey and Growth
Kalpavriksh Fund first invested in Ayurveda Experiences in its Series A funding round in 2019 and continued to support the company through subsequent follow-on investments. Over time, Kalpavriksh Fund’s total investments of INR 150 crore across TAE and other ventures have generated significant returns, reflecting the Fund’s strategic approach to incubating and scaling innovative startups in the consumer wellness space.
Acquisitions and Strategic Expansion
In 2023, Kalpavriksh Fund was acquired by Prowess Advisors, a leading food and agri business advisory services firm. With this acquisition, Prowess Advisors acquired Acorn Fund Consultants Pvt Ltd from Centrum Group, facilitating its entry into the fund management space and strengthening its portfolio and expertise in venture capital investments.
Market position and competitive environment
Founded in 2010 by Rishabh Chopra, The Ayurveda Experience has carved a niche for itself in the D2C market with an extensive product line-up of hair oils, moisturizers, lotions, creams, scrubs, etc. Catering to a global audience interested in holistic health solutions, the brand also offers a range of Ayurvedic services including consultancy, educational content, webinars, courses, etc.
Industry Insights and Growth Trajectory
Commenting on the successful sale, Saransh Verma, Chief Investment Officer, Kalpavriksh Fund, commended Ayurveda Experiences’ commitment to leveraging the holistic benefits of Ayurveda on a global scale. Mr. Verma highlighted that TAE has grown significantly since Kalpavriksh Fund’s initial investment, with a significant expansion in its customer base and product offerings.
Future ventures and fund expansion
Rajesh Srivastava, Chairman, Acorn Fund Consultants, announced the launch of a new scheme within the Kalpavriksh Fund family. The scheme will target funds between Rs 500-750 crore and focus on bespoke private credit products tailored for the food, agribusiness and sustainability sectors. This initiative underlines Acorn Fund Consultants’ commitment to drive innovation and sustainable growth in key industries.
