Optimistic Capital, India’s first alcobev-focused fund led by alumni of INSEAD and the Indian School of Business (ISB), has announced that its maiden investment, Bengaluru-based microbrewery 33&Brew, has turned profitable. The fund has also expanded its portfolio with strategic investments in Brewden and 33&Craft, strengthening its presence across India’s growing alcobev and hospitality landscape.
The investments have been made through a SEBI-registered Category I Alternative Investment Fund (AIF), with 33&Brew attracting participation from more than 100 angel investors.
33&Brew has recorded monthly revenue of just under Rs.1 crore over the past two months and is projected to generate approximately Rs. 2 crore in revenue over the next 12 months, with an expected EBITDA margin of around 20%. According to its latest financial statement, the microbrewery reported monthly EBITDA of Rs. 18 lakh, marking a significant step towards sustained profitability.
The investment is also beginning to deliver returns to early investors, with the fund reporting a current IRR of approximately 18%. Optimistic Capital began distributing profits to investors in June, underscoring its focus on generating tangible returns while building a focused portfolio across the alcobev and hospitality sectors.
Optimistic Capital’s investments are structured through a SEBI-registered AIF with a profit-sharing mechanism, allowing investors to participate in the profitability of portfolio businesses and creating opportunities for periodic distributions.
Varun Krishnan, Co-Founder of Optimistic Capital said, “Today’s announcement marks an important milestone for Optimistic Capital, with 33&Brew turning profitable and our investments in Brewden and 33&Craft expanding our portfolio. We remain focused on building scalable businesses and creating long-term value for our investors.”
In a road to expansion and with the success of 33&Brew, Optimistic Capital has strenthened its portfolio with strategic investments in Brewden and 33&Craft, adding new formats to its growing presence across the alcobev and hospitality sector. Brewden is a smaller-format taproom concept aimed at a younger, experience-driven audience. With an accessible format and an emphasis on operational efficiency, the concept is positioned for rapid expansion across Bengaluru.
33&Craft, developed in partnership with MasterChef Australia winner Shashi Chelliah, is a high-end dining and beverage experience catering to consumers seeking a premium hospitality offering. Located in Central Bengaluru, off the iconic MG Road, the concept reflects Optimistic Capital’s strategy of developing differentiated formats aligned with the evolving preferences of India’s urban consumers.
The success of 33&Brew has further strengthened Optimistic Capital’s strategy of investing in and actively developing complementary businesses across the alcobev ecosystem. Rather than focusing solely on individual businesses, the fund is building a portfolio that can leverage shared infrastructure, operational expertise and strategic capabilities. With 33&Brew providing a profitable foundation, and Brewden and 33&Craft bringing new consumer formats to the portfolio, Optimistic Capital is looking to scale its investment strategy across India’s evolving craft beer, alcobev and hospitality landscape.
Optimistic Capital focuses on identifying high-potential opportunities across the alcobev and hospitality ecosystem and supporting them through growth, profitability and scale.
