Inside KA Enterprises, Bollywood star Deepika Padukone’s early-stage 'venture shop'

Deepika Padukone wears multiple hats — actor, producer, investor, entrepreneur, global brand ambassador, and soon-to-be Oscar presenter. One of the most sought-after names in Bollywood, and now across the world, Padukone has been quietly building her business portfolio over the last few years. 

She set up her family office KA Enterprises in 2014, and began investing in startups shortly after. Some of her key bets include Epigamia, Furlenco, Blu Smart, Bellatrix, Atomberg Technologies, Front Row, Mokobara, Supertails, Nua, and so on. In some cases like Epigamia and Nua, for instance, the actor has also doubled up as an investor and brand ambassador. 

Jigar K Shah, former venture capitalist and fund manager at KA Enterprises since 2020, manages ​​all of Padukone’s financial assets—unlisted, listed and fixed income. He tells Business Today in an exclusive chat, “We run KA Enterprises like a typical venture shop. For DP, it's more of a gut-driven decision-making process. Whereas I do most of the meetings around business models, channel checks, and due diligence. She is the heart and I am the mind of KA.”

Shah reckons KA Enterprises is comparable to any “decent-sized early-stage fund” in India, with average cheque sizes ranging between Rs 3 crore and Rs 5 crore. But when it comes to the investment thesis, it “depends on the differentiated value proposition the company is offering, moats that are defensible… We also look at the team and their execution abilities [before funding],” he says.

Shah has strategized and led most of KA’s startup investments. He expects the family office “to evolve like any other VC fund”. “It's only a single Limited Partner (LP) now - we are investing just one person's [DP’s] money, but it will grow. We are also looking to strengthen our investment team,” he explains.   

Turning entrepreneur with ‘DPKA’

Interestingly, Padukone’s business interests aren’t just limited to the family office or her production house. In May 2021, she incorporated a new company DPKA Universal Consumer Ventures Pvt. Ltd. in Mumbai. It counts her and her legendary father Prakash Padukone as Directors, according to Tofler. 

Shah, meanwhile, serves as the co-founder of DPKA Universal Consumer Ventures, which launched the premium skincare brand 82°E last November. How did the busy actor get bitten by the entrepreneurial bug? 

Shah shares, “Beauty and Personal Care companies started reaching out to us to get Deepika on board  – either as a brand ambassador or at some promotional event. But she always wanted to set up her own brand. So, we looked at everything from fledgling idea-stage BPC companies to large venture-funded ones to even incumbent brands. But we were not convinced with the stakes that they were offering. DP wanted more control and involvement in shaping the brand narrative.”

And thus was born 82°E (pronounced Eighty Two East), a brand that claims to marry Ayurveda with science. In December, it raised $7.5M in a seed round led by DSG Consumer Partners, and IDEO Ventures, along with participation from KA Enterprises, and several ultra-high net worth individuals (UHNIs). “I am honoured to have investors of global repute join us in our vision to establish 82°E as a modern self-care brand born in India for the world,” Padukone said in a statement. 

Targeted at urban “women on the go” in the 25-35 age group, 82°E has set up its own R&D lab in Bengaluru. “Very few BPC startups in India have their own R&D labs,” Shah says, adding, “We wanted to offer a product which is clean, vegan, and high on quality. All formulations are developed, and dermatology tests and clinical testing is done in the lab.”

Padukone, despite her busy schedule, is said to be a “hands-on” entrepreneur. “DP gets into every formulation trial and uses each product on her skin before she gives us a go-ahead,” Shah reveals. 

At present, 82°E has four products in the market, but is launching more at monthly intervals. Addressing criticisms on the stiff pricing of the products, Shah states, “We are definitely more expensive than those selling at 500 bucks a pop, but we are less than median when it comes to the global skincare market. And we have seen encouraging traction from Tier 2 and Tier 3 cities as well, where people want quality and aspirational products.”

While DPKA Universal Consumer Ventures’ first foray into the market is making all the right noises, it may not be the last. Summing up the growing trend of Bollywood actors turning investors and entrepreneurs, brand consultant Harish Bijoor told Business Today, “Celebs from cinema and cricket, who are entering businesses by lending their names, are contributing to glamour equity, that sometimes has a higher valuation than the cash equity they put in…”

“We are living in the era of startups, and celebs don’t want the ship to sail,” he added.

Also Read: Women's Day: Not just actors! Katrina Kaif, Priyanka Chopra, Alia Bhatt, Deepika Padukone are also acing the entrepreneurial game