Sharrp Ventures backs Jagdish Farsan in Rs 43 crore bet on regional snacks
Sharrp Ventures, the family investment office of the Mariwala family, has put around Rs 43 crore into Gujarat-based Jagdish Farsan. The transaction marks the Vadodara-based snacks maker's first institutional fundraise.
Rishabh Mariwala, who runs Sharrp Ventures, said the firm is looking to back more companies in the regional snacks space. With around 40 investments and roughly Rs 750 crore deployed across its direct and fund investments, Sharrp aims to invest between Rs 125 crore and Rs 150 crore each year.
What Jagdish Farsan does
Founded in 1938, Jagdish Farsan has built a strong following in Gujarat with products such as bhakarwadi, farsan and sweets.
Sharrp's investment thesis
Sharrp's family-business background gives it an advantage with legacy, family-owned businesses, Mariwala said. At least 10 VC funds were chasing the Jagdish deal, but Sharrp was the first investor the company met and eventually closed the transaction with it.
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"100% it helps. There was trust. We are long-term patient capital. They want our capital over others because we will not push them for exits," Mariwala told Moneycontrol.
Unlike a conventional venture fund operating on a fixed fund cycle, the family office does not need to push a profitable business towards aggressive growth or an exit within a defined timeframe.
Mariwala framed the core thesis simply: "How can bhakarwadi become as ubiquitous as bhujia?" He cited Bihar's thekua and sattu-based foods as examples of regional categories that could find a larger audience.
For regional food companies, the opportunity is not necessarily to become the next Haldiram's. Different brands can coexist by serving distinct tastes, occasions and consumer groups, Mariwala said.
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