Aiming to tap the ecommerce market, private equity firm TVS Shriram Growth Fund has invested Rs 25 crore in FSN Ecommerce Ventures that retails beauty and wellness products in the online space under the brand "Nykaa".
"TVS Capital Funds has invested Rs 25 crore under the TVS Shriram Growth Fund Scheme in FSN Ecommerce Ventures", the Chennai-based company said.
FSN is promoted by Falguni Nayar, who earlier headed Kotak Mahindra Bank as its Managing Director,Investment Banking.
FSN Ecommerce Ventures offers 35,000 products for women from over 350 brands across the globe. The company delivers more than 35,000 orders per month with over two million people visiting the website, it said.
The investment by TVS Capital Fund in FSN would accelerate growth in the existing business, aid in launching private label business and scale up marketing efforts, it said.
Recently, TVS Capital Funds announced that it would invest Rs 85 crore in dairy and dairy products manufacturer Prabhat Dairy Limited.
