/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/jZiXPtkyyDosqTAb7Nsb.png)
Former chairman & managing director of Hindustan Unilever Ltd. (HUL) Sanjiv Mehta
Global investment firm L Catterton has announced a strategic partnership with FMCG veteran Sanjiv Mehta, the former executive of Hindustan Unilever (HUL), to launch a new India-focused consumer fund.
The joint venture (JV) aims to invest in consumer-facing companies in India and will leverage L Catterton's global network and Mehta's extensive experience in the consumer sector.
Sanjiv Mehta to lead the joint venture
Sanjiv Mehta will lead the JV as the executive chairman starting April 4, 2024. The JV plans to predominantly attract India-based investors and will consider acquiring both majority and minority stakes in Series B and above consumer businesses.
The investments are anticipated to vary from $25 million to $150 million, focusing on capitalizing on the long-term growth opportunities offered by India's rapidly expanding population.
Leveraging global and local expertise
The partnership is set to capitalize on L Catterton's global reach and investing expertise in the consumer sector, along with Mehta's deep understanding of the Indian market. Mehta's role will extend beyond the JV, involving him with L Catterton Asia and the firm's other global fund platforms, aiming to create a compelling offering for investors.
“With India now having the world’s largest population and generating high GDP growth, there has never been a better time to deepen our commitment to the market and invest in the consumer businesses that will shape the landscape of tomorrow,” said L Catterton Global co-CEO Michael Chu in a statement.
“This is a strategically important initiative for our Asia platform and for our firm globally,” said L Catterton Asia Managing Partner Scott Chen.
“Asia is expected to drive more than half of the world’s GDP growth this decade, fueled by young, technologically enabled and highly dynamic consumers. This unique joint venture brings our firm’s global network and capabilities together with Sanjiv’s insights and experiences to create a compelling offering for investors,” he added.