India-focused private equity firm OAKS Asset Management Monday announced that it has launched its second fund —OAKS India Consumer Fund.
The Rs500-crore (about $68 million) fund with a green-shoe option of Rs250 crore will aim to invest in about 10-12 businesses with the investment size ranging between Rs25 and Rs100 crore per investee company, the company said in a statement.
The vehicle, which is registered with the Securities and Exchange Board of India, the country’s market regulator, as a Category-II Alternative Investment Fund, has already received commitments worth around Rs400-450 crore, the statement added.
“We at OAKS Asset Management have always invested in traditional consumer brand stories driven by seasoned entrepreneurs or business families that focus on profitable growth. We do not invest in businesses that are dependent on serial fundraisings nor do we invest in businesses that operate in the winner-takes-all categories. Essentially, all our businesses focus on creating brands that provide better products, service quality, and enhance customer experience at affordable prices,” said Vivek Anand PS, founder & MD, OAKS Asset Management.
From its previous fund, OAKS Asset has invested in electric two-wheeler brand Hero Electric, luxury banqueting, and catering business Foodlink, Vini Cosmetics, the makers of Fogg Deodarant, and Hardcastle Restaurants, the master franchisee for McDonald’s in South and West India.