India Value Fund to invest up to $150 million in food business.

Private equity firm India Value Fund Advisors (IVFA) will invest between $100 and 150 million (about Rs. 640 - Rs. 970 crore) in the food business over the next two years, said a top company executive.

'Food business will be one of the highest growth sectors for the country over the next 20 years. The demand is driven by need for convenience, rising disposable incomes and aspirational lifestyles,' Haresh Chawla, partner, India Value Fund Advisors told ET. IVFA has invested in companies across sectors such as media and entertainment, healthcare, logistics, supply chain and retailing, infrastructure services and clean energy.

The PE firm is looking to back mid-size businesses in food business with focus on supply chain and ingredient business, packaged food business and food services business.

'A majority of our investments are where we follow this buy-and-build model, and the rest are in areas where we back entrepreneurs and help them in their efforts to scale their organisations,' said Chawla.

IVFA -- which recently picked up a controlling stake in chef Rahul Akerkar-founded deGustibus Hospitality for $30 million (about Rs 190 crore) -- also holds investments in companies such as VKL Seasoning (ingredient business) and Keya (packaged food business).


ET