K Hospitality Corp, which operates restaurant brands such as Copper Chimney and Bombay Brasserie, has launched Kliff Ventures — a strategic investment platform with a corpus of ₹200 crore to invest in early-stage consumer retail brands, a top executive at the company said.
“Over the last five decades, we have seen the evolution of consumers, their eating habits and the multiple shifts that have taken place. The timing of this fund is closely linked to how the market has evolved and the enormous opportunity that the consumer sector in India presents,” said executive director Karan Kapur in an interview with Mint.
The fund, which aims to selectively deploy capital across 5-6 investments, will focus on partnering with and scaling companies in food & beverage, retail, consumer services and allied sectors. It seeks to bridge a gap in India’s consumer ecosystem by combining long-term patient capital with operating expertise to help emerging brands scale sustainably.
Kapur said part of the fund has been financed through K Hospitality’s internal accruals, while the remainder came from offer-for-sale (OFS) proceeds linked to subsidiary Travel Food Services’ (TFS) initial public offering last year.
TFS, which specializes in bringing international brands to airports, is a joint venture between K Hospitality and London-based SSP Group. The company was listed in India last year through an OFS-only initial public offering, in which the Kapur Family Trust sold part of its stake.
India’s food services market, valued at about $80 billion in 2024, is expected to grow at a compounded annual rate of 10-11% over the next five years, according to Redseer. Growth is being driven by online food delivery and rising demand for organized dine-in formats.
Operator model
The venture arm comes at a time when India’s consumer economy is being driven by premiumization, rising discretionary spending, digital-first consumption and the emergence of new-age brands.
Through an operator-led approach, Kliff Ventures plans to support founders with strategic guidance, execution capabilities, sourcing, talent access and long-term partnerships.
“The journey of growing a brand beyond a particular scale can be operationally complex. Beyond capital, we want to help founders with setting up systems, looking at sourcing & talent, institutionalizing processes, innovation and establishing brand identity,” Kapur said.
The company will also scout for opportunities in sectors such as lifestyle and wellness, focusing on differentiated positioning and scalable unit economics.
“We will also closely evaluate the target addressable market in which a company operates and how that is expected to grow before making an investment," he added.
Growth engine
Founded in 1972, K Hospitality Corp operates across more than 600 locations with over 10,000 employees. The group reported revenue of around ₹3,500 crore last year and is profitable at the group level, though it did not disclose exact figures.
Its portfolio spans restaurants, bars, travel retail, banqueting, catering, international QSR partnerships, cafés, food courts and corporate food services.
Brands include Nando's India, Wagamama, JOSHH and Blue Sea Banquets & Catering.
Deal momentum
The sector has also seen rising investor interest and consolidation. Mint has previously reported on fundraising activity involving Truffles Hospitality, Trimex Foods, Nandhana Palace, Theobroma, Burma Burma and Burger Singh.
Other recent developments include Sapphire Foods India’ proposed merger with Devyani International in an almost billion-dollar transaction. Devyani has also announced plans to acquire Biryani by Kilo, while Wow! Momo raised capital from Singularity in December.
Mint has also reported on Subway India’s plans to tap public markets and Bengaluru-based The Filter Coffee raising capital from the family office of Bikaji’s promoter earlier this month.