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Millennials fast-tracking recovery of consumer startups: Fireside Ventures

Some companies catering to millennials are seeing their revenues return steadily to pre-COVID levels, says Fireside’s Kanwaljit Singh.

June 12, 2020 / 12:28 PM IST

India has begun lifting lockdown restrictions in a staggered manner as the economy gingerly reopens after more than two months of lockdown that has ruined several businesses.

But in all this gloom, there is some cheer. Some companies catering to millennials are seeing their revenues return steadily to pre-COVID levels, Kanwaljit Singh, the managing partner of Fireside Ventures, a $100-million consumer brand-focused venture fund, has told Moneycontrol.

“Most of the new-age brands are targeting the urban millennials who have shown strong resilience to the COVID situation and several of our portfolio companies are tracking revenues back to pre-COVID levels,” Singh said.

The coronavirus and the lockdown made startups and their investors—venture capital funds--cautious as survival took precedence over growth.