Pidilite Industries has tied up with a venture capital fund 100X.VC to identify strategic investment opportunities for an arm of the company, Pidilite Ventures. The company said it was looking for fast-growing, innovative companies that have synergies with its core business.
“We have not specifically earmarked any amount for this, but we will be very cautious in investing,” Apurva Parekh, ED of Pidilite Industries, told CNBC-TV18.
Yagnesh Sanghrajka, Founder and CFO of 100X.VC, is seeing a lot of opportunities at the early stage exactly where the company has partnered with Pidilite Ventures.
“As early stage fund, our business is to look at dynamic founders who are doing something disrupting and Pidilite Ventures has a very core business and they are looking at opportunities around,” he said.
The home improvement space, renovation space, smart building material etc., are the areas which Pidilite is looking at.
“We are seeing a lot of startups who are bringing innovative solutions on the core, and we are evaluating them, shortlisting them, working closely with the Pidilite Ventures team to evaluate whether these make sense for Pidilite’s core objectives,” he added.
For the full interview, watch the accompanying video