Food & Beverages

ABC Impact Fund II is the second flagship private equity fund managed by ABC Impact, a Singapore-based investment firm focused on generating measurable social and environmental impact across Asia. Launched in August 2023, the fund achieved a final close in April 2025, raising over USD 600 million—doubling the size of its predecessor. The fund secured commitments from a diverse group of global and regional investors, including Temasek, Temasek Trust, the Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, a Southeast Asian sovereign wealth fund, a U.S. family office, and various ultra-high-net-worth individuals. The fund targets four key sectors: clean energy and climate resilience, inclusive finance and digital access, healthcare and education, and sustainable food systems. It provides growth capital to innovative, commercially viable companies that contribute to achieving the United Nations Sustainable Development Goals (SDGs). Representative investments include Aye Finance in India, Tekoma Energy in Japan, and DCDC Kidney Care, a leading dialysis provider serving underserved populations in India. ABC Impact implements a disciplined impact measurement and management framework, aligned with international standards such as the Principles for Responsible Investment and the Operating Principles for Impact Management. With total assets under management exceeding USD 900 million, the firm continues to scale private capital solutions that support a more inclusive and sustainable future for Asia.

Arbor Investments VI is the sixth flagship private equity fund launched by Arbor Investments, a Chicago-based firm specializing exclusively in the food, beverage, and related sectors. The fund builds on Arbor’s proven strategy of targeting control buyouts in middle-market companies, with a strong operational focus and industry specialization. With a target size of $1.5 billion, Arbor Investments VI seeks to capitalize on long-term secular trends within the food ecosystem by investing in companies where it can apply its in-house operational expertise and strategic playbook. The firm is known for its intensive hands-on approach and value creation through operational improvement, commercial expansion, and strategic repositioning. Fund VI will maintain Arbor’s focus on North American opportunities, particularly within the United States, and will target businesses that are founder- or family-owned, or those requiring generational transitions or corporate carve-outs.

The Avendus Future Leaders Fund III is seeking to raise about $300 million for its private equity unit, with plans to write larger checks more frequently. The firm's third private equity fund aims to target growth-stage startups, as evidenced by its previous work with companies like Zepto, Lenskart, Xpressbees, CaratLane, and Atomberg. This represents a shift from its earlier fund sizes, with its second fund totaling around $185 million and its maiden fund at $50 million in size. Target sectors include information technology, insurance, food product, apparel, accessory, asset management and fintech sectors. The fund is designed to create value for its investors by investing opportunistically in ‘best of breed’ late stage private companies. The fund pursues a unique and differentiated strategy by focusing primarily on opportunistic situations for investment. The Fund is indifferent between primary and secondary investments and offers a quick turnaround to companies/ entrepreneurs. Investment Size: USD 10-30 million per transaction, minority stake.

ECP Growth, formerly known as Emil Capital Partners, is a growth-stage investment firm dedicated to partnering with entrepreneurial businesses that create innovative products, solutions, and technologies within the consumer value chain. Established in 2011 in collaboration with the Tengelmann Group, a 150-year-old family-owned holding company, ECP Growth leverages deep industry expertise to support companies in navigating complex growth challenges. With the recent close of its $100 million Fund IV, ECP Growth aims to invest in high-potential companies situated at the intersection of significant market transformations and evolving consumer needs. The firm adopts a thematic investment approach, focusing on sectors that enhance human mobility across life stages, deliver personalized health and wellness experiences, and optimize resource efficiency in daily living. ECP Growth typically partners with companies generating over $10 million in revenue, offering investment sizes ranging from $5 million to $20 million. The firm emphasizes businesses that demonstrate a clear path to profitability within 18 months, ensuring both immediate growth potential and sustainable long-term value.

The EV II fund is a 70m€ Venture Capital fund that invests in innovative companies in Series A & B stage. The fund has a focus on Fintech and Beyond Banking sectors, including financial technology, RegTech, cybersecurity, mobility, energy, agriculture, and more. The fund targets investments in Central and Eastern Europe, which is an emerging startup ecosystem with amazing talent and founders but lacks the attention and funding resources of more mature regions. The fund has a commitment from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, and has previously invested in a portfolio of 15 companies, including investment banking, e-signature & identification, and RegTech companies, among others. The main goal of Elevator Ventures is to earn a financial return for its investors. In addition, they want to contribute to the strategy of the banks and engage with high-growth companies whose business models might be changing the industry dynamics in the mid- to long term. The fund also cooperates with international co-investors and has decided to invest in a Fund of Funds and other VC funds alongside Raiffeisen-Landesbank Steiermark, and Raiffeisenlandesbank Oberösterreich. The fund also believes in the transformative power of technological shifts that enable high-growth companies to drive customer value and reshape industries. They are driven by a sector focus that encompasses not only Fintech but also Beyond Banking, which includes platform-based business approaches in various service areas. Elevator Ventures also plans to continue to promote innovation in the region with the backing of its LP base.

INVL Baltic Sea Growth Fund, managed by INVL Asset Management, is a closed-end private equity fund launched in June 2018 with committed capital of €164.7 million. The fund invests in late-stage growth SMEs and small to mid-cap companies, acquiring either controlling or significant minority stakes. Typical equity investments range from €5 million to €25 million, with capacity for larger deals via co-investments. Target companies are generally valued between €10 million and €100 million. The fund focuses on businesses with strong potential to become industry leaders in their respective sectors. Core geographies include the Baltic States and Poland, while investment scope extends across the broader European Union. INVL Baltic Sea Growth Fund specializes in complex transactions, providing customized capital solutions for companies undergoing structural, strategic, or ownership transitions. It supports growth through a combination of organic expansion, acquisitions, and active value creation initiatives. Taking an active ownership approach, the fund works closely with management teams to align long-term goals and drive transformation. It typically invests by acquiring stakes from existing shareholders and providing growth capital. With an ESG-integrated investment model and a hands-on strategy, INVL Baltic Sea Growth Fund helps its portfolio companies scale operations, increase efficiency, and execute cross-border expansion strategies.

L Catterton India Fund I marks the firm’s first India-dedicated investment vehicle focused exclusively on the consumer sector. Backed by LVMH and co-led by Sanjiv Mehta (former CEO of Hindustan Unilever), the fund aims to capitalize on India’s fast-growing consumption trends. Launched in 2024, the fund operates as a determinate close-ended trust registered under SEBI's Category II AIF regime, reflecting strong compliance and governance standards. With a fundraising target of $600 million, the fund achieved a first close of $200 million in September 2025. Key anchor commitments include International Finance Corporation (IFC) with $30 million, and clients of Kotak Private. The fund also has a green-shoe option of an additional $200 million, potentially increasing the total fund size to $800 million. The fund will deploy capital across 7 to 9 mid-stage companies, with investment tickets ranging from $25 million to $150 million. L Catterton India Fund I will focus on high-growth consumer sub-sectors such as food & beverage, consumer services (including healthcare), retail & restaurants, and consumer brands. Its strategy aligns with India’s expanding middle class and rising disposable incomes. L Catterton India Fund I leverages the global private equity expertise of L Catterton and the local leadership of Sanjiv Mehta. Backed by institutional LPs like IFC and supported by distribution through Kotak Private, the fund combines capital with operational value-add to help Indian consumer companies scale both locally and internationally. The fund’s value proposition is centered on growth acceleration and brand building.

The Libra Hybrid Capital Fund is a private credit vehicle launched by Granite Asia, a Singapore-based multi-asset investment platform. The fund has secured over US$250 million in anchor commitments from leading Asian sovereign wealth funds, general partners, and a network of founders and entrepreneurs. With a target size of US$500 million, the fund aims to provide non-dilutive capital to mid-market companies across the Asia-Pacific region. Libra focuses on offering secured loans with a defensive risk profile, targeting established businesses that are profitable or have positive cash flow. These companies span various sectors, including those undergoing digital transformation or pursuing growth through acquisitions. The fund leverages Granite Asia's technology ecosystem and operational expertise to deliver stable cash yields and enhanced returns. Managed by partners Ming Eng and Roger Zhang, the fund is part of Granite Asia's broader strategy to support a diverse range of businesses that form the backbone of Asia's economy. By providing flexible, non-dilutive financing solutions, Libra aims to bridge funding gaps for companies scaling within and across the region.

Mediterrania Capital IV Mid Cap (MC IV) is a private equity fund managed by Mediterrania Capital Partners, focusing on growth investments in mid-cap companies across North Africa and Francophone Sub-Saharan Africa. With a target fund size of €350 million, MC IV aims to support businesses with strong growth potential and established market positions. The fund seeks to invest in sectors crucial for the region's development, including healthcare, education, financial services, consumer goods, and manufacturing. By providing both capital and strategic support, MC IV assists companies in scaling operations, enhancing governance, and expanding into new markets. MC IV is committed to responsible investing, integrating environmental, social, and governance (ESG) considerations into its investment process. The fund also emphasizes gender diversity, aligning with the 2X Challenge by aiming for a significant portion of its portfolio to meet gender inclusion criteria.

PAI Froneri Continuation Fund is a dedicated single‑asset continuation vehicle created to acquire and hold PAI Partners’ 50 % interest in Froneri, the global ice‑cream business that PAI formed in joint venture with Nestlé. The fund was structured to provide liquidity to existing investors while enabling PAI to retain upside exposure to a high‑growth consumer platform. In tandem with new co‑investment from ADIA and backing from Goldman Sachs’ alternatives platform, the vehicle supports a refreshed ownership structure. Froneri itself was launched in 2016 through the combination of PAI’s R&R Ice Cream and Nestlé’s European ice‑cream operations. Over time it has evolved from a European focused private‑label ice cream producer into a global branded leader, expanding into the U.S. via the acquisition of Nestlé’s U.S. ice cream business, and building a diversified portfolio across geographies and product segments. The continuation fund backs a €3.6 billion equity transaction to recapitalize and reposition Froneri’s capital structure, bringing in new capital from ADIA and repositioning PAI’s stake into the new vehicle. The transaction was described as heavily oversubscribed, reflecting strong investor confidence in Froneri’s growth trajectory and resilience. Going forward, the fund’s strategy is to support Froneri through organic growth, operational enhancements, strategic consolidation, and continued brand expansion in existing and adjacencies markets. The continuation vehicle aligns PAI, management, and new investors for a multi‑year investment horizon, enabling Froneri to capture further scale in the global ice cream and snacking sectors.

PAI Mid‑Market Fund II is a European buy‑out fund managed by PAI Partners, domiciled in Luxembourg with management operations led from Paris. The fund builds on PAI’s inaugural mid‑market platform and aims to support growth and consolidation in medium‑sized companies across Europe. It focuses on businesses in sectors including business services, consumer & food, industrials, and healthcare, leveraging PAI’s operational expertise in these areas. Target geography includes major European markets such as France, Spain, Italy and Germany. The fund seeks enterprise value targets broadly in the range of €100‑300 million per company, with equity tickets from €70 million and above, depending on deal size and opportunity. It applies a buy‑and‑build or transformational strategy, working closely with management teams to scale operations and possibly expand cross‑border. As a successor fund, MMF II is likely to follow similar fund size, investment pacing, and ESG and operational value‑creation frameworks as the original MMF, while adapting to current market conditions and valuation landscapes.

Pemberton Asset Management has closed its Mid-Market and Senior Loan Fund with €6.1 billion in committed capital, part of an €8.4 billion fundraising round that also includes its €2.3 billion Strategic Credit Fund III. This multi-strategy platform is designed to meet the capital needs of private equity sponsors and mid-market companies across Europe through flexible, senior-secured financing. The Mid-Market strategy targets asset-light businesses with strong cash flows and EBITDA between €15 million and €75 million. These companies generally have professional shareholders, experienced management teams, and operate in resilient, service-oriented industries. The Senior Loan strategy supports larger firms with EBITDA from €20 million to €100 million, offering conservative bank-style financing through senior secured loans ranging from €50 million to €250 million. Sector focus includes technology, outsourced business services, biotech, and life sciences—industries with strong contractual revenues and track records. The fund emphasizes stable, floating-rate returns while targeting core European economies such as France, Germany, the UK, Benelux, Nordics, and Southern Europe.

The Radical Fund is an early-stage venture capital firm dedicated to supporting Southeast Asia's transition to a more resilient future. With a target fund size of $40 million, it invests in startups that address climate change through both adaptation and mitigation strategies. The fund focuses on pre-seed, seed, and pre-Series A stages, providing not only capital but also operational and technical assistance to its portfolio companies. Recognizing the unique challenges faced by Southeast Asian countries, The Radical Fund prioritizes solutions tailored to the region's specific needs. It seeks out ventures that may not traditionally be classified as climate tech but have the potential to make significant environmental impacts. This includes sectors like agriculture, food, circular economy, financial services, mobility, and logistics. The fund is part of the Utopia Capital Management group, which has supported over 130 early-stage startups in emerging markets. The Radical Fund's team is based in Bangkok and Singapore, with plans to expand in the Philippines, Vietnam, and Indonesia. Its mission is to build an ecosystem of climate-oriented companies that deliver both commercial returns and measurable climate impact.

Roark Capital Partners VII is the flagship private equity vehicle of Roark Capital, targeting $5 billion to fuel its strategy of investing in franchise and multi-location consumer-facing businesses. The fund builds on Roark’s extensive experience in the consumer, services, and franchise sectors, where it has backed brands such as Arby’s, Dunkin’, and Subway. With more than half of its target already raised, Fund VII reflects robust investor confidence in Roark’s disciplined buy-and-build approach. The fund’s core strategy is centered around acquiring platform businesses with strong brand equity and accelerating growth through consolidation and operational improvement. Roark specializes in supporting management teams in scaling their networks, improving unit economics, and expanding footprints across geographies. Fund VII will continue this strategy with a particular focus on multi-brand platforms and growth-stage operators with potential for franchising. Roark Capital aims to deploy capital through control-oriented buyouts, platform acquisitions, and select growth partnerships. Target companies typically exhibit predictable cash flows, high customer retention, and potential for franchise replication. The fund also allows for meaningful add-on activity to bolster existing platforms, with a focus on building category leaders in fragmented industries. Fund VII reinforces Roark’s positioning within the large-cap private equity space. As fundraising continues, the firm is expected to pursue investments across North America, leveraging its operational playbook, brand development expertise, and longstanding LP relationships. The vehicle is designed to generate value through scale, network effects, and the continued expansion of its consumer and franchise-driven ecosystem. The fund aims to partner with strong operating teams, acquire businesses with predictable cash‑flows, scalable platforms and well‑positioned brands, and drive long‑term value creation through operational improvement and growth initiatives. With approximately US$5 billion in commitments, the fund targets companies typically generating revenues from around US$20 million up to US$5 billion or more, and EBITDA from roughly US$10 million up to US$500 million or above. The principal geographic focus is North America, with select international franchise‑oriented opportunities, and sectors include restaurants, health & wellness, fitness, youth/education services, consumer products and business services.