L Catterton, the global consumer-focused investment firm, has appointed Chetan Naik as managing director for India as it expands its investment platform in one of its key growth markets. According to reports from Moneycontrol, Naik will be based in Mumbai and will work closely with Sanjiv Mehta, executive chairman of L Catterton India, and partner Vikram Kumaraswamy to strengthen and expand the firm's platform in the country. The appointment comes months after partner Anjana Sasidharan exited the firm to launch her own early-stage consumer-focused venture capital fund, with her responsibilities being shared between Mehta and Kumaraswamy following her departure.
Sanjiv Mehta emphasized the firm's commitment to India's consumer market, stating that "the country's consumption super-cycle is at a vibrant stage of its upward trajectory and we are leaning into the market with conviction and discipline." As reported by Moneycontrol, Mehta highlighted that structural tailwinds are propelling the expansion of businesses across various categories, with the firm focused on identifying and partnering with companies that have robust fundamentals and are best positioned for long-term success. Vikram Kumaraswamy noted that Naik's experience across growth and buyout investing would complement the firm's dealmaking and operating capabilities in India.
Chetan Naik brings approximately two decades of experience across private equity, venture growth and finance in India. According to Moneycontrol, he most recently served at 360 ONE Asset, where he led investments through the firm's thematic New Age Consumer Technology Fund. His portfolio includes bets on Zomato, Swiggy, Pine Labs, Policybazaar, Country Delight, Nykaa, Licious, Kapiva, Snitch, HomeLane, UpGrad and Zetwerk, among others. His previous role was as vice president at TVS Capital Funds. Naik said India's consumer economy continues to present compelling opportunities, driven by innovation, evolving consumer preferences and a thriving entrepreneurial ecosystem.
Throughout his career, Naik has partnered with founders and management teams to build category-leading businesses, resulting in multiple investments that generated successful exits with multibagger returns. As reported by Moneycontrol, he has backed and helped drive growth at consumer and technology companies including Country Delight, Zomato, Mosaic Wellness, Snitch Apparel, Kapiva, Sleep Company, EatClub Brands, Homelane, Licious, Miko, Nykaa, Swiggy, UpGrad, Vadham, PolicyBazaar, LEAP, SEDEMAC, Netweb Technologies, NSE India, Zetwerk and Sagility. He has also served as a board member or observer across multiple portfolio companies.
L Catterton, founded in 1989, manages approximately $40 billion of equity capital across private equity, credit and real estate strategies. According to Moneycontrol, the firm's funds can invest between $5 million and $5 billion across the capital structure in consumer businesses and has more than 200 investment and operating professionals across 18 offices. The firm has made more than 300 investments globally, with its India portfolio including Farmley, Haldiram's, Drools and Jio Platforms. In India, it has backed companies including Drools, Farmley and Sugar Cosmetics, and has been stepping up its investments to tap the country's growing consumer opportunity as global investment firms continue to deepen their India presence.
