Fireside Ventures, an early-stage venture capital firm from India, has recently closed a second fund of $118 million.

The new fund will invest in digital-first consumer brand startups focused on sectors ranging from food and beverages, beauty/personal care, and lifestyle/home products, according to the company.

The company also added that it aims to invest in a total of 15 - 20 companies.

Launched in 2017, Fireside Ventures focuses on investing in early to growth stages of consumer brands startup companies.

The firm's first fund closed at $50 million in February 2018, where over 95% of the money has already been deployed into 18 companies.

According to the firm, Fireside Ventures has invested in 22 brands, with a cumulative portfolio valuation crossing $1 billion, roughly an 8x growth on the fund.

Fireside Fund II has presently invested in 4 companies to date, which are FableStreet, Sarva, Gynoveda, and Slurrp Farm.

“We are now eager to go all out and partner with young Indian entrepreneurs who are creating exciting, new, digital-first brands across the consumption spectrum and are consciously building brands that focus on [what is] good for consumers and good for the world,” said Kanwaljit Singh, founder and managing partner at Fireside Ventures.