Fund News
L Catterton's consumer-focused $400-M India fund raises $200-M in first close
L Catterton's India-dedicated consumer fund has raised USD 200 million (INR 1,763 crore) to mark its first close. The private equity fund, set up in partnership with former Hindustan Unilever chief executive Sanjiv Mehta, has a total target of raising USD 400 million and a green shoe of USD 200 million. The fund is focused on providing growth capital to mid-market companies in the consumer sector.The fund has so far secured commitments from the International Finance Corporation (IFC) and certain clients of Kotak Private, the private banking and wealth management division of Kotak Mahindra Bank.The firm's current portfolio in India comprises pet food maker Drools, Sugar Cosmetics, and Jio Platforms. Out of the new India-dedicated fund, it has invested in healthy snack food company Farmleys.
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