L Catterton's India Fund I hits $200 million mark
L Catterton just closed the first round of its India Fund I at $200 million, aiming for a total of $400 million.
The fund is all about backing promising consumer brands in India, and has already raised $200 million.
They're focusing on investing in midsize companies
They're looking to invest between $25 million to $150 million in seven to nine midsize companies across food, healthcare, retail, restaurants, and branded products.
Their latest move: investing in Farmley, a healthy snacking brand that sells directly to consumers.
Who's backing this fund?
Big names like International Finance Corporation and Kotak Private clients have already committed funds.
The team is led by Sanjiv Mehta, former Hindustan Unilever CEO, with Anjana Sasidharan and Vikram Kumaraswamy as co-heads.
Their global reach and Indian investments
Globally, L Catterton manages $37 billion and has backed over 300 consumer companies.
In India, they've invested in names you might know: Drools, Sugar Cosmetics, FabIndia, PVR Cinemas, and even hold a small stake in Jio Platforms.