Early stage venture capital firm Sauce VC has launched its third fund with a corpus target of 250 crore ($30 million), The Economic Times reported

Sauce VC is a consumer-focused fund that has backed luggage and lifestyle startup Mokobara, clean-label snacking brand The Whole Truth, and new energy drink Rockit.  

Sauce VC founder and managing partner Manu Chandra told ET that the investment firm received clearance for the new fund from the Securities and Exchange Board of India (SEBI) a few weeks ago. 

The new fund aims to back 15-16 consumer brands. “The firm is doing away with the strategy of raising continuity funds,and will look at making largest ticket size investments from the main fund itself,” Chandra told ET.

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