L Catterton raises $200 million for consumer fund focused on India
L Catterton has wrapped up the first close of its India-focused consumer fund, raising $200 million so far. The goal is to raise up to $400 million, with an additional $200 million green shoe option.
Big names like International Finance Corporation and certain clients of Kotak Private, the private banking and wealth management division of Kotak Mahindra Bank, are backing the fund.
Fund aims to boost mid-sized Indian consumer brands
This fund is all about helping mid-sized Indian consumer brands grow—think food, health services, retail, restaurants, and consumer brands.
Their first bet? Farmleys, a healthy snack brand.
Leading the charge are Sanjiv Mehta (executive chairman), Anjana Sasidharan, and Vikram Kumaraswamy.
Global giant's journey in India so far
Since 1989, L Catterton has managed about $37 billion worldwide across private equity and real estate.
In India, they've already invested in brands you might know like Drools (pet food), Sugar Cosmetics (beauty), and Jio Platforms—showing their commitment to India's booming consumer scene.