Optimistic Capital’s maiden investment, Bengaluru-based microbrewery 33&Brew, has turned profitable, with the alcobev-focused fund reporting an 18% IRR and beginning profit distributions to investors.
The fund said 33&Brew has recorded just under ₹1 crore in monthly revenue over the past two months and is projected to reach around ₹2 crore in revenue over the next 12 months, with an anticipated EBITDA margin of about 20%. Its latest financial statement shows monthly EBITDA of ₹18 lakh.
Funded through a SEBI-registered Category I AIF, 33&Brew attracted more than 100 angel investors. Optimistic Capital began distributing profits to investors in June, with current returns translating into an IRR of approximately 18%.
The fund is now expanding its portfolio with investments in Brewden and 33&Craft. Brewden is a smaller-format taproom concept targeting Bengaluru’s younger, experience-led consumer base, while 33&Craft is a premium dining and beverage concept developed in partnership with MasterChef Australia winner Shashi Chelliah and located off MG Road in Central Bengaluru.
“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,” said Varun Krishnan, Co-Founder, Optimistic Capital.
The fund said the three businesses form part of its broader strategy to build a scalable alcobev and hospitality platform, leveraging shared infrastructure, operational capabilities and sector expertise.
