International private equity fund L Capital Wednesday said it has launched its fourth private equity fund worth $640 million for investments in sectors like consumer brands, lifestyle retail, media and entertainment in China and India. The fund sponsored by the global luxury brands group LVMH further said the investments would be made in local companies which have innovative brands and concepts which suit the taste and needs of consumers in China, India, Southeast Asia and the Middle East.
"Today, while there is an abundance of capital to fund companies, there is a great need for sector specific value added 'smart' capital that can drive growth in India," said Ravi Thakran, managing partner of L Capital Asia.
According to Thakran, the fund would use the extensive resources, management skills and experience of the LVMH group to work with local entrepreneurs and to grow their business within India and across Asia.
The company further said its focus would be on portfolio companies which have high growth potential in the short to medium term, in segments like consumer brands, lifestyle retail, lifestyle food and beverage, beauty and wellness, boutique hospitality, media and entertainment and private education.
The company has already made three investments in China and South East Asia, while it is in advanced stages of discussion with companies in India.
L Capital Asia, which is the fourth fund from L Capital and sponsored by LVMH, has earlier invested in companies like Pepe Jeans, Princess Yachts, Piazza Sempione.
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