Investment in L Catterton India Fund by IFC

The proposed investment by the International Finance Corporation (IFC) in the L Catterton India Fund amounts to a potential equity commitment of up to $30 million, along with a co-investment envelope of up to $30 million under delegated authority.

According to the announcement, the fund aims for total commitments reaching $600 million.

Partnership and Fund Overview

In March 2024, Sanjiv Mehta, the former CEO of Hindustan Unilever (HUL), joined forces with L Catterton to create an investment vehicle dedicated to India.

L Catterton India Fund I primarily concentrates on private equity, specifically aimed at delivering growth capital to mid-market companies in India’s consumer landscape. The fund plans to execute between 7 to 9 investments, with each investment ranging from $25 million to $150 million per company.

Focus Areas of Investment

The fund will concentrate its investments in four major sectors: food and beverage, consumer services (including healthcare), retail and restaurants, and consumer brands. The strategy is based on identifying businesses well-positioned for growth in alignment with rising consumer demands and economic advancement in India.

Leadership and Strategic Direction

The investment vehicle will be directed by L Catterton’s executive chairman for India, Sanjiv Mehta, alongside partner Anjana Sasidharan, who manages investments in India. Their efforts will be coordinated with the wider L Catterton Asia leadership team, which is overseen by managing partner Scott Chen, who has been in this role since 2019.

L Catterton’s Existing Portfolio in India

L Catterton’s current investments in India feature brands like Sugar Cosmetics, Farmley, Drools, and Impresario, owner of the popular restaurant chain Social, as well as a minority interest in Jio Platforms.