NICEorg and Venture Intelligence Launched the First Annual Indian Cultural Enterprises Investment Report 2021


March 9th 2022. The Network of Indian Cultural Enterprises (NICEorg) launched the 1st Annual Indian Cultural Enterprises Investment Report 2021, in partnership with Venture Intelligence.

The Network of Indian Cultural Enterprises (NICEorg) is a not-for-profit organization working towards creating an ecosystem of cultural enterprises in the five NICE Focus Sectors.  NICEorg focuses upon creating an ecosystem of cultural entrepreneurs, investors, mentors, industry experts, and partners from various spheres of activities including academia, industry apex bodies and media.

Venture Intelligence is a leading provider of data on private company financials, transactions, and valuations to track PE-VC investments in cultural enterprises. Commenting on the launch of the Report, Arun Natarajan, Founder, Venture Intelligence said “Given the inspiring mission and founding team behind NICEorg, Venture Intelligence is proud to associate with the organization. The timing of the partnership – coming at a time when there is a marked rise in interest among VC-PE investors in sectors like D2C brands – is also very opportune.”

The 1st Annual Indian Cultural Enterprises Investment Report 2021 brings out actionable data with regards to the market, purchasing power, and exits specific to NICE Focus sectors and their geographical presence.

The year 2021 saw Private Equity Venture Capital (PE VC) investors make 90 investments worth about USD 1,764 million (INR 13,037 crores) into NICE Sectors. Sector-wise, Health, Beauty Wellness stood first in value terms, attracting investments worth USD 1,306 million (INR 651 crore). Food and Beverages ranked second, with investments worth USD 440 million (INR 3,251 crore). Fashion and Accessories companies completed the top three with investments worth USD 16 million (INR 121 crore). PE-VC investments in the Home Decor Furnishings sector aggregated to USD  2 million (INR 14 crore).


This unique report is for cultural entrepreneurs and investors to get a deep data-driven understanding of the markets locally and nationally.

The online launch event included the official release of the 1st Annual Indian Cultural Enterprises Investment Report 2021. This was followed by a panel discussion moderated by Vidhyashankar Sathyamurthi, CEO, NICEorg. Panellists included:

Commenting on the increasing investments and market opportunities in this sector, Chandu Nair remarked “cultural brands present a lot of potential as they represent identities, ideals, values and more. Indian enterprises and entrepreneurs can leverage this intrinsic need for identity in order to create new offerings – products and services- in several industries and drive brand loyalty. It’s a fact that culture sells. It needs to be packaged and presented in an appropriate, customer-facing manner. This is where organizations such as NICEOrg can play the crucial role of catalyst and facilitator in educating, mentoring, and creating a platform for such cultural enterprises and entrepreneurs.”

Shefali Chhachhi, Founder and Managing Partner at Hearth Ventures, congratulated NICEorg for the launch of this report. “We at Hearth Ventures compliment and welcome this initiative by NICEorg, powered by Venture Intelligence. What gets measured and tracked with focus, gets performed. Given the immense scope for the Indian cultural economy to create its impact across the globe, we look forward to participating in this growth story with like-minded partners such as NICEorg.

Adding to the discussion, Sunil Jalihal, Founder of Indic Inspirations, a cultural enterprise, said “there is a need for cultural enterprises to be exposed to best practices by practitioners in marketing, logistics, fundraising and everything a startup entrepreneur needs. The NICE ecosystem is a boon for Cultural Startups, such as Indic Inspirations. NICE’s facilitation and mentoring on pitching and getting connected to angel investors has been a great support for Indic Inspirations.”

Suresh Bhagavatula, Professor-Entrepreneurship at IIM-Bangalore pointed that “this is the right time to be in the cultural entrepreneurship space. What we need is a huge network of entrepreneurs who can support each other, be it in lifestyle, food or any other sector.

‘The 1st Annual NICE Indian Cultural Enterprises report is a great leap forward in building Brand India by empowering the creative and cultural entrepreneurial community. I am thrilled with the possibility of discovering, nurturing and investing in exciting cultural brands with the support of our growing ecosystem of partners like the various city TiE chapters, NSRCEL l-IIMB; very helpful mentors and the growing NICE Angel network.’ remarked Vidhyashankar Sathyamurthi, CEO of NICEorg.


Be a part of various NICEorg programs for your entrepreneurial journey:

NICE Aarohana: a series of free and online workshops and panel discussions designed and delivered by experts, entrepreneurs and practitioners, especially for cultural entrepreneurs to plan, build and grow their cultural enterprises.

NICE Mantrana: A mentoring program for a selected cohort of cultural entrepreneurs to gain mentorship and guidance from industry experts and business leaders.

NICE Samvaad: A series of special addresses delivered by industry leaders, business heads, seasoned entrepreneurs, and others with their observations on how sectors of the cultural entrepreneurship landscape are evolving, the prevailing trends and their progression, the challenges and possibilities ahead for these sectors.

NICE Angels: A network of NICE Angel investors interested in the early and growth stage investment program for cultural enterprises.

If you would like to invest in cultural enterprises, Sign up here

If you are a cultural entrepreneur seeking to raise funds, Sign up here,

If you have questions or are a cultural entrepreneur, do write to us at namaste@localhost

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First Indian Cultural Enterprise Investment Report 2021

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