India's first alcobev fund turns its maiden bet profitable, adds two investments

What's the deal? Optimistic CapitalDealroom has a profile for this one. Try Dealroom →, which it calls India's first alcobev-focused fund, said its first investment — Bengaluru microbrewery 33&Brew — has turned profitable. It also announced investments in two new ventures, BrewdenDealroom has a profile for this one. Try Dealroom → and 33&Craft.

By the numbers: 33&Brew has logged just under ₹1 crore in monthly revenue over the past two months and reported monthly EBITDA of ₹18 lakh. The fund projects roughly ₹2 crore in revenue within 12 months, at an EBITDA margin near 20%.

What's the return? Early investors are seeing an internal rate of return of about 18%, with profit distributions starting in June. The business was funded through a SEBI-registered Alternative Investment Fund (AIF) Category I structure, drawing more than 100 angel investors.

What's the endgame? Rather than backing single businesses, the fund is building a portfolio that shares infrastructure and operational expertise across India's craft beer, alcobev, and hospitality market. Its investments use a profit-sharing mechanism that lets investors take periodic distributions.

The new bets: Brewden is a smaller-format taproom aimed at a younger, experience-driven crowd, positioned for rapid expansion across Bengaluru. 33&Craft, built with MasterChef Australia winner Shashi Chelliah, is a premium dining and beverage venue off MG Road in central Bengaluru.

“We remain focused on building scalable businesses and creating long-term value for our investors,” said Varun Krishnan, co-founder of OptimisticDealroom has a profile for this one. Try Dealroom → Capital.

The signal: A profitable maiden investment and two new formats show the fund testing whether a portfolio approach can scale across India's evolving urban drinking and dining habits.

Read more: cxodigitalpulse.com

Image credit: Generated with Gemini