Optimistic Capital sharpens focus on vinyl-themed microbreweries
Investment firm Optimistic Capital has funded vinyl-themed Indian microbrewery 33&Brew, a move that sees the business reinforcing links between independent beer and analogue music culture.
The venture capital company is a beer-focused business and the only investment vehicle dedicated to making investments in the local microbrewery sector across India with plans to also invest in two additional microbreweries in central Bengaluru.
According to a statement made by the company, Optimistic Capital has deployed Rs 30 crore across “initial commitments with the remaining Rs 170 crore earmarked for rollout over the next three years”.
As part of its latest investment, Vinyl-themed microbrewery 33&Brew has now raised Rs 20 crore (US$2.2 million) in a Series A funding round led by Optimistic Capital, a decision that it has outlined will help support the business move forwards with the next stages of its growth.
Beer and music
33&Brew was founded last year by Karthik Chandrasekaran and combines independent beer with a curated vinyl record collection (33⅓ RPM). Additionally, the business offers an Indian menu conceptualised in collaboration with chef Sabyasachi Gorai alongside beers and all served within a music-focused setting.
The style of business is growing across India with the trend for beer fans to be able to combine a love of indie beer alongside a listening bar styled brewery set-up. Guests can additionally play vinyl records at the venue while also creating a personalised music experience alongside their chosen drinks.
33&Brew has revealed that it aims to combine the trends for craft brewing alongside the boost in interest in analogue music culture as a means of differentiating itself in Bengaluru’s brewery marketplace.
Partner Content
In terms of the structure of the investment, Optimistic Capital has revealed that it works on an owner-operator approach, whereby it not only invests money into the businesses it supports, but also goes further by taking an active role in operating and growing the companies it invests in too.
According to the investor, it gets involved in the daily operations of its portfolio companies, which include operational efficiencies, sales and marketing, product development, and executive management.
Optimistic Capital has also revealed that it has big plans to continue to invest in high-margin growth companies in India’s independent beer sector and has drawn in investors from MEA, Africa, and India to assist with this model.
An investment model with added kudos
According to the company’s website, its projects already include a new microbrewery in Koramangala, which will feature collaborations with MasterChef winners and renowned brewers. Plus, it has also invested in a vinyl-music themed nano brewery, Record Room, which was recently featured in The Rolling Stone magazine.
Optimistic Capital founder Edwin Daniel said: “Structuring this unique fixed-interval financial product in the microbrewery space has been incredibly exciting. By enabling small ticket sizes as a CAT-1 Angel fund, we’re democratising access to high-potential investments, allowing everyday investors to participate in India’s booming craft beer revolution.”
Daniel added: “The investors also get a unique financial product which gives out periodic pay-outs to hedge returns compared to other products.”
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