L Catterton's India Partner Anjana Sasidharan to quit, start her own fund

L Catterton's partner and co-head of India Anjana Sasidharan (left) and India executive chairman Sanjiv Mehta in a file photo.

• Anjana Sasidharan resigns from L Catterton to start a consumer-focused VC fund
• Her new fund may exceed Rs 200 crore and begin as a solo GP structure
• L Catterton will split her responsibilities among existing partners

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Anjana Sasidharan, partner and co-head of India investments at L Catterton, has resigned and will be moving on from the private equity major over the coming weeks, sources have told Moneycontrol. She is starting an early-stage  consumer-focused venture capital fund, sources said.

Sasidharan joined L Catterton, where she also served as the head of India investments for a brief period, in February 2021 after nearly a decade at Sequoia Capital. She was tasked with leading the fund’s consumer investments in India, the world’s third-largest startup ecosystem, where it has backed dry-fruits company Farmely, pet-care startup Drools, beauty and personal care brand Sugar Cosmetics, among others.

L Catterton manages $37 billion in assets and a portfolio of over 230 companies in 18 regions. Her departure comes as the fund has been increasing focus on India where it has invested over $600 million.

Sasidharan’s next move

Sasidharan's is likely to be a solo general partner (GP) fund, as of now, but the structure may evolve over time, sources said. Her decision mirrors a growing trend of fund managers leaving jobs and venturing out on their own.

Sameer Brij Verma, a former partner at Nexus Venture Partners, last year launched Northpoint Capital, a $155 million solo GP fund, one of the earlier such moves in India’s venture ecosystem. Other, smaller fund managers have followed suit, largely over an uneven pay structure or disagreements at the top, Moneycontrol has reported.

What do we know about Sasidharan’s fund plan?

While the final contours of the new fund and its structure are yet to be finalised, it is likely to have a corpus of over Rs 200 crore (over $20 million) and will gradually increase in size, one of the persons cited above said.

While Sasidharan did not reply to queries, L Catterton confirmed the development to Moneycontrol.

“L Catterton Partner Anjana Sasidharan will be transitioning from the firm over the course of the first quarter of 2026 to start her own venture at a later time focusing on investing in early-stage consumer companies in India, in line with her interests and skill sets. Our team in India will continue to be led by L Catterton India Executive Chairman Sanjiv Mehta and Partner Vikram Kumaraswamy,” a company spokesperson said.

Will L Catterton replace Sasidharan? 

It is unlikely L Catterton will replace Sasidharan. It will instead divide responsibilities between existing partners.

“The team’s proven investment and operating expertise, underscored by Sanjiv’s and Vikram’s vast experience, and augmented by our global platform, continue to put us in a very strong position to create value for portfolio companies and LPs. We remain focused on delving into and further building our pipeline of attractive investment opportunities spanning various categories, deal types, and sizes, as well as our comprehensive value creation plans for our portfolio companies, and are excited about the developments we have lined up over the coming months and years,” the spokesperson said.

L Catterton in India

L Catterton was formed in January 2016 after Catterton, a consumer-focused private equity firm and Louis Vuitton Moet Hennessy (LVMH), a leader in luxury products, partnered with Groupe Arnault, the family holding company of billionaire Bernard Arnault, to form an investment vehicle to back consumer companies.

L Catterton has been increasing its presence in India over the past months. It roped in Sanjiv Mehta, former chair and CEO of Hindustan Unilever Limited (HUL), to lead India operations.

In May 2025, regulatory disclosures said L Catterton would raise $600 million for its debut Indian fund with commitments from International Finance Corporation (IFC), and others in what would be the PE firm’s first exclusive investment vehicle for India.