The fund will leverage its global network to help Wildcraft grow its business in India and internationally
Mauritius-based, Asia-focused, technology, media, and entertainment fund, FildelisWorld on Monday announced making an undisclosed investment in Bengaluru-based adventure equipment and outdoor gear company Wildcraft.
A statement from FidelisWorld said that the fund will leverage its global network to help Wildcraft grow its business in India and internationally. “The investment by FidelisWorld complements Sequoia Capital’s backing and the recent investment by the Flipkart Group in the company that provides it a large distribution platform for its business,” said the statement.
The recent investment comes months after Flipkart group’s Myntra took 5 percent stake in Wildcraft. Rajeev Kalambi, Principal at FidelisWorld, who has joined Wildcraft’s board as Director, said, “Wildcraft’s products are targeted towards solving for the unique outdoor needs, by addressing the region’s unique conditions around weather, terrain, and distances. We are confident that Wildcraft has what it takes to replicate its formidable domestic position in this space globally. We are excited to be a part of this growth story and look forward to work with the Wildcraft team.”
Siddharth Sood, co-founder, Wildcraft, said, “We are thrilled to have FidelisWorld partner with us in our exciting journey. Their financial and operational support will help accelerate Wildcraft’s growth plans.”
Shardul Amarchand Mangaldas acted as the legal advisor to FidelisWorld for this transaction. Spark Capital acted as Wildcraft’s transaction advisors and Argus Partners as Wildcraft’s legal advisors.
Wildcraft was founded by Siddharth Sood, Gaurav Dublish, and Dinesh Kaigonahalli. Its products are available today in 175 exclusive stores, and over 5,000 multi-brand stores across 500-plus Indian cities, with two manufacturing units in Bengaluru and Himachal Pradesh. It also distributes its products in international markets – South Asia, Middle East, and Central Asia and recently did its first tie-up in Europe.