Popular D2C eyewear brand Lenskart recently announced the launch of Lenskart Vision Fund, which it will use to invest in startups harmonious with the eyewear, eye-care, and omnichannel retail sector. The fund will essentially invest in selected early-stage startups and help them scale business using Lenskart’s resources and technology.
The total corpus of the fund is $20 million; Lenskart has invested $4-5 million so far.
Peyush Bansal, CEO and Co-Founder, Lenskart, says the eyewear startup plans to deploy to fund over the next two years, and invest in 10-15 startups.
“The cheque size on the max side would be $2 million but on the lower side can be as low as 200k or 500k,” says Peyush, adding that the entire funding would be raised by internal accruals and out of the company’s own balance sheet.
Lenskart aims to invest in new technology that can change the game in the industry. Peyush feels that a large proportion of these investments require…