Optimistic Capital's first bet, brewer 33&Brew, hits profitability with 18% IRR
What's the deal? Optimistic CapitalDealroom has a profile for this one. Try Dealroom →, which bills itself as India's first alcobev-focused fund, said its maiden investment — Bengaluru microbrewery 33&BrewDealroom has a profile for this one. Try Dealroom → — has turned profitable. The firm, run by INSEAD and Indian School of Business (ISB) alumni, also announced fresh investments in BrewdenDealroom has a profile for this one. Try Dealroom → and 33&CraftDealroom has a profile for this one. Try Dealroom →.
The numbers: 33&Brew has recorded just under ₹1 crore in monthly revenue over the past two months and reported monthly EBITDA of ₹18 lakh. It projects roughly ₹2 crore in monthly revenue within 12 months, at an anticipated EBITDA margin of around 20%.
What's the endgame? Optimistic Capital invests through a SEBI-registered Alternative Investment Fund (AIF) Category I structure, using a profit-sharing mechanism that lets backers share in portfolio profitability. The 33&Brew deal drew more than 100 angel investors.
Why now? The fund began distributing profits to investors in June. Early backers are seeing returns translating to an internal rate of return (IRR) of about 18%.
The signal: A profit-sharing AIF built around brewpubs and hospitality is an unusual structure in Indian venture, betting that periodic cash distributions — not exits — can anchor returns in the alcobev sector.
Read more: pninews.com
Image credit: Generated with Gemini
