In the fast-paced world of venture capital, success stories are often measured in terms of strategic foresight, meticulous selection, and timely exits. Orios Venture Partners, India’s leading early-stage venture capital fund, recently added another feather to its cap with the successful partial exit from its portfolio company, Country Delight, yielding an impressive return equivalent to 45 times its initial investment.
On the 7th of February 2024, Orios Venture Partners proudly announced this achievement, highlighting the value of its investment strategy in identifying promising companies early on and nurturing them to fruition. The journey began in 2017 when Orios recognized the potential of subscription commerce and embarked on a rigorous selection process, evaluating over 40 companies before zeroing in on Country Delight as the prime candidate for investment.
Despite this partial exit, Orios maintains the majority of its investment stake from Fund I in Country Delight, a testament to its continued confidence in the company’s growth trajectory and potential.
Founded in 2013, Country Delight has emerged as India’s premier “Good for You” food essentials brand, revolutionizing the way consumers access fresh and high-quality daily consumables through its innovative tech-first direct-to-home model. Initially focusing on dairy products, the company swiftly diversified its offerings to include a wide array of essentials such as bread, eggs, ghee, fruits, and vegetables, all produced under its trusted brand.
Since its inception, Country Delight has experienced exponential growth, attracting significant investor interest and raising a total of 9 funding rounds. In its latest funding round, the company achieved a valuation of $820 million, further solidifying its position as a key player in India’s burgeoning consumer goods market.
Rehan Yar Khan, Managing Partner at Orios Venture Partners, reflected on the successful exit, emphasizing the firm’s commitment to identifying exceptional founders and supporting them in building transformative companies. “We have always worked hard to identify the very best companies at early stages to invest in,” stated Khan. “With Country Delight, it has been an honor and a great learning experience to watch Chakradhar & Nitin build the company, from a single product to over 140 products.”
Chakradhar Gade, CEO, and Co-founder of Country Delight, expressed gratitude for Orios’ early belief in the company and the role it played in driving its growth trajectory. “Orios has been the earliest believer in Country Delight,” said Gade. “We are thrilled to have given a partial exit to Orios at a 45x return and continue to be excited about their support and belief in the business.”
This successful exit from Country Delight adds another chapter to Orios Venture Partners’ track record of generating lucrative returns for its investors. With a keen eye for identifying promising startups and a hands-on approach to nurturing their growth, Orios continues to solidify its position as a leading investor in India-focused ventures, paving the way for further innovation and disruption in the startup ecosystem.