Vertex is Likely to Invest in Licious from its Vertex Growth Fund

Seafood and meat brand Licious is in advanced stages of closing a fresh $25-30 million (?180-215 crore) round of funding, which if successful,will be the second equity financing round the company has closed in the last 12 months.

The Series-D round is likely to be led by Vertex Ventures, the venture capital arm of the government of Singapore-backed investment giant Temasek, and an existing investor in Delightful Gourmet, which owns and operates Licious, according to sources briefed on the developments.

Vertex is likely to invest in Licious from its Vertex Growth Fund, which announced the final close of its inaugural investment vehicle at $290 million in September this year, according to sources cited above.

The VC firm had previously invested in Licious from its Vertex India and Southeast Asia fund. The growth fund invests $10-15 million per company, typically in third and fourth round fundings, versus $3-4 million by its affiliate funds in early rounds. It is, however, yet unclear if Vertex’s India and SE Asia fund will also participate in this new round. Licious declined to comment on “market speculations”. Email sent to Ben Mathias, managing partner at Vertex Ventures in India, did not elicit any response till the time of going to press.

The latest round, which is expected to close over the next few days, will value the firm at $250-300 million, a significant uptick from the $150 million valuation it commanded in its last round of equity financing.

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