Sasidharan is moving on from L Catterton to start an early-stage consumer-focused venture capital fund, joining a growing list of fund managers who are choosing to become solo GPs
The deal size and the valuation were not disclosed, but sources said that that L Catterton is likely to have picked up a minority stake
Sanjiv Mehta, former top executive of HUL, will serve as the executive chairman of the new company effective from April 4, 2024
The deal, if it goes through, will mark another retail bet for the PE firm in India after ethnic wear and home decor company FabIndia, and beauty-care startup Sugar
In 2017, L Catterton Asia had invested in Impresario, which backs popular f&b labels Social and Smoke House Deli.
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L Catterton's investment comes in a span of a little less than two hours after private equity investor TPG invested Rs 4,546.80 crore for a 0.93 percent stake.
L Catterton, the world’s largest consumer-focused private equity firm, will invest Rs 1,894.50 crore for a 0.39 percent stake