India's Oaks raises $55m for consumer PE fund

LPs to date include Indian family offices and ultra-high net worth individuals. There is a greenshoe option of INR2.5 billion.

Oaks was set up in 2015 by Vivek Anand and Vishal Ootam, who together have more than 40 years of experience in banking, financial services, and asset management. They currently serve as managing director and CEO, respectively.

The firm raised INR7 billion for its first consumer fund in 2017 and deployed the capital across five companies. These include non-bank lending platform Incred, Hero Electric, India's largest two-wheeler vehicle brand, and Foodlink largest luxury banqueting and catering business in India.

Fund II will make 10-12 investments in a range of INR250 million to INR1 billion per company. There will be a focus on brands with meaningful revenues and capital-efficient operations in large markets with significant tailwinds.

"True to our philosophy, 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," Anand said in a statement. "We do not invest in businesses that are dependent on serial fundraises nor do we invest in businesses that operate in the winner-takes-all categories."

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• Topics
• South Asia
• Fundraising
• Consumer
• Growth
• India
• Oaks Asset Management