India, 02nd Sept 2026: Optimistic Capital, India’s first alcobev-focused fund managed by alumni of INSEAD and the Indian School of Business (ISB), today announced that its maiden investment, 33&Brew, a Bengaluru-based microbrewery, has turned profitable. The fund has also announced strategic investments in Brewden and 33&Craft, expanding its portfolio across the alcobev and hospitality sector.
Funded through a SEBI-registered Alternative Investment Fund (AIF) Category I structure, 33&Brew attracted participation from more than 100 angel investors.
The business has recorded slightly under ₹1 crore in monthly revenue over the past two months and is projected to achieve approximately ₹2 crore in revenue within the next 12 months, with an anticipated EBITDA margin of around 20%. As per its latest financial statement, 33&Brew reported monthly EBITDA of ₹18 lakh, reflecting its progress towards profitability.
The investment has also begun generating returns for early investors, with current returns translating to an IRR of approximately 18%. Optimistic Capital began distributing profits to investors in June, reflecting its focus on creating tangible value through its investment structure.
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.
“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,” said Varun Krishnan, Co-Founder of Optimistic Capital.
EXPANDING THE PORTFOLIO:
Following the success of 33&Brew, Optimistic Capital has announced strategic investments in Brewden and 33&Craft.
Brewden is a smaller-format taproom concept catering to a younger, experience-driven audience. With an accessible format and focus on efficient operations, Brewden 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 designed for consumers seeking a premium hospitality offering. Located in Central Bengaluru, off iconic MG Road, the concept reflects Optimistic Capital’s strategy of developing differentiated formats around the evolving preferences of India’s urban consumers.
BUILDING A SCALABLE ALCOBEV PLATFORM:
The success of 33&Brew has strengthened Optimistic Capital’s strategy of investing in and actively developing complementary businesses within the alcobev ecosystem.
Rather than focusing solely on individual businesses, the fund is building a portfolio that can benefit from shared infrastructure, operational expertise and strategic capabilities. With 33&Brew establishing a profitable foundation and Brewden and 33&Craft adding new consumer formats, Optimistic Capital is focused on scaling its investment strategy across India’s evolving craft beer, alcobev and hospitality landscape.
