Venture Catalysts (VCats), India’s first pioneering integrated incubator and accelerator platform has announced its exit from its portfolio company Beardo with stellar returns on investment. Beardo, a popular Men’s grooming brand and one of VCats’ earliest bets has been acquired by Marico Ltd. The FMCG giant had acquired a 45% stake in Beardo in 2017, to strengthen its presence in the burgeoning men’s grooming segment in India. Looking at the growth and potential in the segment, Marico acquired an additional 55% equity share in Beardo’s parent company Zed Lifestyle Pvt. Ltd earlier this week.
AshutoshValani, Co-founder of Beardo, said, “We are fortunate to have got Venture Catalysts as our investor and mentor. VCats has been a tremendous support in our journey from a start-up to becoming a national brand. We thank the entire team for being so co-operative in providing mentorship, quick evaluation, and super quick decisions.”
