Japan’s Sumitomo Mitsui Trust Bank (SMTB) plans to take an ownership stake in One Planet Partners and anchor a fund that expects to deploy ₹30 billion, Mint reported Thursday.
The fund plans to invest about ₹30 billion (₹3,000 crore) over the next few years in businesses across energy transition, mobility and manufacturing, the newspaper reported. Mint did not disclose the size of SMTB’s planned equity investment or its commitment to the fund.
Mint reported that planned investments would range from ₹100 crore to ₹500 crore, targeting businesses with revenue of ₹200 crore to ₹2,000 crore. The report did not specify the period covered by those revenue figures.
One Planet’s website identifies One Planet Growth Advisors Private Limited as the manager of One Planet Investment Trust, a Category II alternative investment fund registered with the Securities and Exchange Board of India (SEBI). The firm lists energy, mobility and manufacturing among its investment areas.
One Planet says its strategy focuses on India’s mid-market. It argues that some businesses in this segment have difficulty securing institutional capital because they fall between the scale served by early-stage investors and that sought by large global buyout firms.
Kazuya Yoneda, general manager of SMTB’s equity investment department, told Mint the investment reflected confidence in India and One Planet. He called India “one of the world’s most compelling long-term investment destinations.”
One Planet founder Mukund Rajan told Mint the bank’s commitment recognized closer ties between India and Japan. Bobby Pauly, a One Planet founder and managing partner, said the partnership combines SMTB’s investment capabilities with One Planet’s market access and business-building experience.
