L Catterton To Raise $600 Million For Its First India-dedicated Fund

L Catterton, a private equity firm backed by luxury giant LVMH, is raising $600 million for its first India-focused fund, according to a filing by the International Finance Corporation (IFC), part of the World Bank Group.

This could be the first time a global private equity firm is creating a fund focused only on India.

According to the filing, IFC will invest $30 million in the L Catterton India Fund-I, with the option to co-invest another $30 million.

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In March last year, former Hindustan Unilever (HUL) CEO Sanjiv Mehta joined hands with L Catterton to launch an India-focused investment fund. Mehta, who led HUL for 10 years until 2023, set up a joint venture with L Catterton aimed at investing in India’s consumer sector.

The fund will be led by Sanjiv Mehta, now Executive Chairman for L Catterton India, along with Anjana Sasidharan, Partner and Head of India Investments, and the firm’s Asia leadership team led by Scott Chen.

L Catterton plans to make 7–9 investments from the India-focused fund, with investment sizes between $25 million and $150 million.

As per IFC, the fund will mainly invest in sectors like food and beverages, consumer services (including healthcare, retail, and restaurants), and consumer brands.

With its new india-focused fund, L Catterton will enter a space where firms like A91 Partners, Fireside Ventures and DSG Consumer Partners are already active in backing consumer brands.

This fundraising move also highlights a growing trend in India’s investment landscape.

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