Back News / Sixth Sense Ventures Invests In Cross Roads India Assistance
Sixth Sense Ventures Invests In Cross Roads India AssistanceDecember 22, 2014
Mumbai: Sixth Sense Ventures, a consumer centric venture capital fund, has invested an undisclosed sum in Ethos Watches, a retail chain for luxury watches, it said in a statement on Monday. This is the first investment by Sixth Sense Ventures, which was founded by Nikhil Vora in January this year. Vora had quit as managing director and head of research at IDFC Securities Ltd to start his own fund. Ethos Watches has 44 stores across the country. It is an authorized retailer for around 50 global luxury watch brands. “We see in Ethos, an opportunity to partner and participate in a scale business, which is likely to be extremely profitable and rides on the back of the strongest global brands,” said Vora, who is also chief executive of Sixth Sense. The domestic fund is raising Rs.250 crore and it marked its first close last week, but Vora declined to give details on how much capital it has garnered from its investors. The average investment size for Sixth Sense is Rs.5-10 crore and it plans to invest as the first institutional investor in its investee companies. “We have raised adequate quantum and we plan to close the entire fund raise in next three months,” Vora said.