How VC firm Hearth Ventures is reigniting enterprise in Indian arts and handicrafts

by AryanArtnews
0 comment

The challenge to Indian art began when civilization did not exist much. Some of the oldest crafts in history can be traced back to India and its neighboring areas. Many have been passed down for generations and still exist today.

Sadly, more and more Indians Craftsman and craftsman — Its ancestors once enjoyed support from royal families across the country and saw their handicrafts decorate the palace. Durbar — Primarily thanks to the emergence of mass production, they are exchanging their skills and practices in search of a better life.

In addition to the growing internet culture and digital lifestyle, most of the Indian artisans who are far from today’s technological advances are left behind.

Indian traditional art is slowly dying.

COVID-19, in particular, left thousands of craftsmen without work and failed to achieve its goals. export Since the beginning of the pandemic, the number of Indian handicrafts has peaked, local production It was a hit as more people started shopping online. Government efforts to revive the handicraft economy have paid off, but given that India’s handicraft sector is the second largest livelihood in the country, further intervention is needed.

input ..Hearth Ventures.. — We are looking to invest in influential venture capital, especially those that support Indian handicrafts and arts and circular economy companies.

(Image source: Aliexpress)

VC company was founded in 2021 Shefari ChachiPepsiCo, Nokia, Max BUPA, and McCormick Kohinol have worked with early-stage businesses to scale up. Vinayak Kamath, A private equity fund partner and a graduate of BITS Pilani who worked for multinational companies such as Arvind Mills and GE.When Vipul Jain, IIM-Ahmedabad and IIT-Alum in Kanpur, Chairman and co-founder of Kale Consultants, currently traded as Accelya at NSE, and Kale Logistics, a software company focused on the global logistics industry.

Trio “Rethinking Indian craftsmanship”, Bringing handmade products by Indian artisans to the world market, we support Indian artisans and handicrafts.

“Handicrafts are the second largest employer in rural India after agriculture. When evaluating early papers, we noticed a serious lack of growth capital and business guidance in this sector. I decided to solve the problem. ” Your story..

“We “Mentor fund” In the field of handicrafts and arts in India, we sincerely believe that there are immense opportunities to succeed in this field, “she adds.

Investing in Bharat

Hearth Ventures is primarily ultimately Impact When support A community of craftsmen and handicrafts.

The types of businesses that are evaluated for investment are classified as follows.

  1. Product base: A company that handles products such as furniture, lighting, pottery, murals, kitchen utensils, gift items, and accessories.
  2. Enabler: Companies that enable the sale of Indian crafts, such as e-commerce wholesalers, logistics companies, project companies, and technology companies.
  3. seller: E-commerce retail, chain holding, marketplaces, international distributors, distributors and more.

Companies that fall into any of these categories are Hearth Ventures’ most interested companies, but their North Star is always Impact These ventures Craftsmen and craftsmen.

(Image credit: Aliexpress)

“One of the biggest criteria when we evaluate a business for investment is its impact on the craftsmanship and crafts community. We are from the UNSDG Index (UN Sustainable Development Goals). Going back, the company checks the number of those boxes, and what is the extent of the impact, “Shefari said.

Another important criterion for venture capital is the unit Entrepreneurial talent, economics, scalability (Including addressable market size), how it is fit Within the company’s portfolio and Evidence of potential success, Above all.

The company not only provides capital, jobs Mentorship And we hope to help the portfolio companies explore each other’s connections.

Hearth Ventures is now One startuPortfolio p—US based ..Shobitum..Inc — Invested $ 1.27 million..Founded by Aparna and Ambika Thyagrajan, Shobitam works very closely with Indian weavers.

During the pandemic, when the weaver community was severely hit, the startup was responsible for providing food such as rice and lentils, promising half of April’s earnings to the weaver and his family.

The Mumbai-based VC company Is in the process of Completed two more transactions in March 2022, and We aim to make three more investments in the next two quarters. Its average ticket size for funding is $ 200,000 to $ 1 million, And the funding at Shobitam Original specifications Capital, it is putting together larger funds to explore more investment opportunities in space.

Edited by Saheli Sen Gupta

..

Related Posts

Leave a Comment