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Integrated art venture Insignia Art Collect gets Rs 3.5 crore from DSG Consumer Partners

Cofounded by Nikhil Girdhar, Pooja Mishra and Jyotsna Sharma, the company aims to sell art created by upcoming artists at affordable prices. Its flagship brand, BestCollegeArt, sells art globally through its online platform as well as through its offline gallery space in Delhi.

, ET Bureau|
Last Updated: Feb 16, 2017, 10.22 AM IST|Original: Feb 16, 2017, 09.32 AM IST
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This investment is the first external round for the New Delhi-based, four-year-old venture, which owns and operates three businesses - online art portal BestCollegeArt, art gallery Art District XIII and The Wall Art Magazine.
This investment is the first external round for the New Delhi-based, four-year-old venture, which owns and operates three businesses - online art portal BestCollegeArt, art gallery Art District XIII and The Wall Art Magazine.
NEW DELHI: Deepak Shahdadpuri-led DSG Consumer Partners has invested Rs 3.5 crore in Mumbai-based integrated art venture, Insignia Art Collect. This investment is the first external round for the New Delhi-based, four-year-old venture, which owns and operates three businesses - online art portal BestCollegeArt, art gallery Art District XIII and The Wall Art Magazine.

Cofounded by Nikhil Girdhar, Pooja Mishra and Jyotsna Sharma, the company aims to sell art created by upcoming artists at affordable prices. Its flagship brand, BestCollegeArt, sells art globally through its online platform as well as through its offline gallery space in Delhi.

Artworks are procured from artists on consignment, with the company charging a certain percentage of every artwork sold by the artists using the platform. Se parately, Art District XIII holds exclusive rights to sell artworks for a year, and earns a fee for every piece of work sold.

The Wall Art Magazine's revenue model is largely advertising-driven, and it counts leading brands, such as BMW and Bacardi among its advertisers.

"Insignia is an interesting mix of curated art at Art District XIII for the top end of the art market and for representation in global fairs, Bestcollegart.com for emerging artists selling affordable art and The Wall ­ an authoritative source on Indian and global art news...We look forward to working with the team to build a market leading art business," Shahdadpuri, managing director, DSG Consumer Partners, said.
The company also counts Kapil Chopra, president, Oberoi Group, and noted art collector, as one of its early backers and mentors.

"The funding is a significant step in institutionalising the art ecosystem in India. We believe that the Indian art market is still in the early stages of its development and expect to see the market grow significantly over the coming decades," Chora said.

This is the second investment by Shahdadpuri in the broader art sector in the country. Through his earlier investment entity - Gem India Advisors - the Singapore-based investor had backed online art auction platform Saffronart.

The latest investment, however, has been made from his consumer-focused investment firm, DSG Consumer Partners, which announced the first close of its second fund, DSGCP-II, which has a target corpus of $40 million, in April last year.

DSGCP-II, which counts Verlinvest, the Belgium-based investment holding company created by the founding families of Anheuser-Busch InBev, as one of its anchor investors has already announced a string of fresh investments from its latest investment vehicle, including in specialty condiments manufacturer and supplier Veeba Food Services and in motorbike rental venture Tazzo Technologies, among others.

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