Latest news with #SanjivMehta
India.com
6 days ago
- Business
- India.com
East India Company, that once looted India for 200 years, is now owned by an Indian; his name is…, business is...
The East India Company was instrumental in the establishment of British dominance in India. It occupied and ruled a large part of the world and the Indian subcontinent for several years. The East India Company was the most powerful arm of the British Empire, which became so large that it was often stated, 'the sun never sets on the British Empire.' But what happened to the East India Company after World War II, when the British Empire crumbled? Who owns the famous trading company now? On December 31, 1600 AD, the East India Company was established as a trading company in England under a special charter from the British Crown, which gave it extraordinary powers and privileges to establish the crown's dominance in other parts of the world, especially in India and East Asia. At first, the East India Company traded with Indian kings and rulers. Over time, it utilized military and political power to consolidate land. Eventually, the Battle of Plassey occurred on June 23, 1757, which led the British to control Bengal. This battle started the Company rule of all of India. As an odd twist of fate, the East India Company – once a ruler of India for nearly 200 years – is now owned by an Indian. Sanjiv Mehta, as British businessman originally born in India, sits at the helm of the company. The East India Company has transformed itself into a luxury goods, gift hampers, luxury tea, coffee and food, premium drinks and homeware retailer.
Entrepreneur
25-07-2025
- Business
- Entrepreneur
L Catterton Names Vikram Kumaraswamy as Partner and Co-Head of India
He will lead the firm's efforts in the country alongside Sanjiv Mehta, Executive Chairman of L Catterton India, and Anjana Sasidharan, also a Partner and Co-Head. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. L Catterton, a global investment firm focused on consumer businesses, has appointed Vikram Kumaraswamy as Partner and Co-Head of its India operations. He will lead the firm's efforts in the country alongside Sanjiv Mehta, Executive Chairman of L Catterton India, and Anjana Sasidharan, also a Partner and Co-Head. Kumaraswamy brings nearly three decades of experience, primarily at Unilever PLC Group. He most recently held the role of Global Head of Corporate Development and Treasury in London, where he led capital allocation and portfolio strategy. During his tenure, he oversaw transactions worth approximately USD 15 billion, evaluating a wide range of business models across geographies and sectors. Sanjiv Mehta welcomed the appointment, stating, "Vikram is a widely respected investor and operator with deep roots in India and vast experience across the world. Michael Chu and I have known him for many years and have consistently been impressed by his business acumen and high calibre steering of strategic initiatives." Commenting on his new role, Kumaraswamy said, "I am thrilled to be joining L Catterton as I have long admired the firm's culture, industry expertise, and value creation capabilities. It is exciting to be returning to India at this time, when the country's consumer market is becoming increasingly discerning and organised amid its rapid development." Kumaraswamy has worked in global and regional roles throughout his career. His past positions include CFO of PT Unilever Indonesia, Vice President of Mergers & Acquisitions in London, and several finance and operational roles at Hindustan Unilever Limited. He currently serves as a Non-Executive Director at Scottish Mortgage Investment Trust PLC. Anjana Sasidharan noted the broader market context in India, saying, "Growth is evident across India, with several categories expanding on the back of long-term consumer trends and structural tailwinds. Differentiated companies with sustainable competitive advantages in these categories have the potential to not only capture market share but also enlarge the pie." Scott Chen, Managing Partner for L Catterton Asia, added, "Vikram has a unique background with substantial investment experience and operating know-how. His skill sets nicely complement Sanjiv and Anjana's, and we actively recruited him to broaden our capabilities in Asia." L Catterton manages about USD 37 billion in equity capital and operates across private equity, credit, and real estate through 18 offices globally.
India.com
13-07-2025
- Business
- India.com
East India Company, which ruled India for 200 years, is now owned by an Indian; his name is..., business is...
Indian-born British businessman Sanjiv Mehta is the current owner of the British East India Company. (File) The East India Company established the British rule in India, and ruled the Indian subcontinent and other major parts of the world for nearly centuries, expanding the British Empire to the point where its was said that the sun never sets upon it. But what happened to the East India Company following disintegration of the British Empire after the second world war? Who is the current owner of this once world-conquering trading company? Let us delve into these interesting questions and find out more: When was the East India Company established? The East India Company was established in England on December 31, 1600 AD as a trading company under a special charter from the British Crown which gave it extraordinary powers and privileges to establish the crown's dominance in other parts of the world, especially in India and East Asia. Initially, the company established trade relations with Indian rulers, but gradually used its growing military and political influence to capture territory, culminating in the Battle of Plassey on June 23, 1757, which led to the establishment of British dominance in Bengal and laid the foundation for company eventual control over all of India. What happened to British East India Company after India's independence? After the Battle of Plassey, the British East India Company rapidly increased military presence across India, gaining complete control over vast swathes of territory. However, its policies of oppression led to a growing sentiment of independence among the native, resulting in the 1857 revolution, the first war of India's independence. Following the 1857 revolution, which was dubbed by the British as a 'sepoy mutiny', the British Crown ended the British East India Company's rule and transferred the administration of India directly under the Queen of England. The British rule in India came to an end on August 15, 1947, as the once-mighty British Empire and the British East India Company became a shadow of their former selves post World War 2. Notably, the special charter which gave the rights to the East India Company, was completely abolished by the British Crown in 1874. Who currently owns the East India Company? Ironically, the current owner and CEO of the East India Company is an Indian, the nation it ruled for nearly 200 years. Sanjiv Mehta, an Indian-born British business tycoon. Mehta is currently the CEO of East India Company which now has business interests in the luxury goods sector, selling gift hampers, luxury tea, coffee, and other food items, including several types of beverages as well as luxury homeware.
Time of India
28-05-2025
- Business
- Time of India
L Catterton to raise $600 million India focused fund
Representative image (AI) MUMBAI: Private equity (PE) firm L Catterton backed by French luxury brand LVMH is raising a $600 million India-focused fund as it looks to tap into opportunities in a growing market where a spate of new-age firms are building consumer focused brands and services. International Finance Corporation (IFC), a World Bank affiliate has proposed to invest up to $30 million in the fund alongside an additional co-investment of up to $30 million, it said in a recent disclosure. L Catterton did not respond to queries. L Catterton will invest in seven to nine companies through the fund, largely mid-sized and operating in the consumer space with cheque sizes ranging from $25-$150 million. The fund will back companies building in the food and beverages, retail and restaurants, consumer services (including healthcare) spaces besides funding up and coming consumer brands. The PE firm has traditionally been consumer focused and has made more than 275 investments globally. Its India portfolio includes a mix of startups such as Sugar Cosmetics, Drools and bigger players such as Jio Platforms. L Catterton which had been routing its investments in India through Asia fund last year roped in former Hindustan Unilever (HUL) chief executive officer Sanjiv Mehta to build a new investment vehicle for the India market. The PE firm's Asia platform formed a new joint venture partnership with Mehta for the same. Several PE and VC (venture capital) investors have been raising funds for the India market even as deployment of large cheques have so far been tepid amid evolving global macro developments. Last month, homegrown investment firm A91 Partners closed a $665 million fund while disclosure made by VC firm Accel earlier this year showed that it raised a $650 million fund focused on the region. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
28-05-2025
- Business
- Time of India
Private equity firm L Catterton to raise $600 million for its first India-dedicated fund
L Catterton , a private equity firm backed by LVMH, the world's largest luxury goods conglomerate, is raising $600 million for its debut India-focused fund , according to a disclosure by the International Finance Corporation (IFC), the World Bank Group's private sector investment arm. This may mark the first time a global private equity firm is launching an investment vehicle dedicated to India. As per the disclosure, IFC will invest $30 million in the L Catterton India Fund-I with an additional co-investment amount of $30 million. In March last year, former Hindustan Unilever (HUL) chief executive Sanjiv Mehta teamed up with L Catterton to launch an India-focused investment vehicle, according to an official statement made at the time. Mehta, who headed HUL, India's largest FMCG company, for ten years until 2023, formed an India consumer sector-focused joint venture with L Catterton to develop a new investment vehicle. ET had reported last July that L Catterton had submitted an application with the Securities and Exchange Board of India (Sebi) to register the India-focused vehicle as a Category II AIF ( alternative investment fund ). The vehicle will be led by Mehta, the firm's executive chairman for India, along with Anjana Sasidharan, partner and head of India investments, and the existing L Catterton Asia leadership team headed by managing partner Scott Chen, who has been in the role since 2019. L Catterton plans to make seven to nine investments from this India-dedicated fund, with cheque sizes ranging from $25 million to $150 million. According to IFC, the fund will primarily back companies across segments such as food and beverages, consumer services (including healthcare, retail and restaurants), and consumer brands. So far, L Catterton has invested in Indian companies through its Asia fund. The firm's portfolio includes beauty brand Sugar Cosmetics, healthy snacking startup Farmley (where it led a $40 million round last month), petcare brand Drools, which became a unicorn following a minority investment from Nestle SA, and Impresario, the parent company of restaurant chain Social, founded by Riyaaz Amlani. L Catterton has also invested in Jio Platforms, owned by Reliance Industries . The development was first reported by online news publication The Arc. With its India-focused fund, L Catterton will step into a market already home to consumer-focused investment firms like A91 Partners, as well as early-stage backers such as Fireside Ventures, DSG Consumer Partners, and others. This fund raise trend also reflects the broader dynamics in the Indian investment ecosystem. In 2024, Bluestone investor IvyCap Ventures, former KKR India CEO Sanjay Nayar's Sorin Investments, and climate-focused Avaana Capital also announced sizable fund closures. More recently, A91 Partners closed its largest-ever fund with a $665 million corpus, while venture capital fund Accel India, an early backer of Flipkart and Swiggy, also closed a $650 million fund. ET had reported on April 25 that Peak XV Partners is set to raise its first independent fund after its split from Silicon Valley firm Sequoia Capital with a target corpus of $1.2-1.4 billion.
