L Catterton’s India-focused consumer fund raises $200 million in first close

L Catterton’s India-focused consumer fund has reportedly completed its first close at $200 million (around ₹1,760 crore).

The private equity fund, launched with former Hindustan Unilever CEO Sanjiv Mehta, aims to raise up to $400 million with an additional $200 million green shoe option. 

Mehta currently serves as the executive chairman of L Catterton India.

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The fund focuses on providing growth capital to mid-sized consumer companies. 

So far, it has received commitments from the World Bank’s International Finance Corporation and clients of Kotak Private, the wealth management division of Kotak Mahindra Bank.

The fund will mainly invest in food and beverages, consumer services like healthcare, retail, and restaurants, and consumer brands, as per reports.

Anjana Sasidharan and Vikram Kumaraswamy co-head L Catterton’s India operations.

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L Catterton is a consumer-focused investment firm managing about $37 billion globally across private equity, credit, and real estate. Since its founding in 1989, it has made over 300 investments in major consumer brands.

In India, its current portfolio includes pet food maker Drools, beauty brand Sugar Cosmetics, and Jio Platforms. From its new India-focused fund, it has made one investment so far—in healthy snack company Farmleys.

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