VC firm One Planet Partners to deploy over ₹3,000 crore in high-growth business in India

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Updated - October 30, 2026 10:02 am IST - The Hindu Bureau

One Planet Partners, an India-focused private equity firm, has on Thursday (October 29, 2026) announced a strategic partnership with Japan’s Sumitomo Mitsui Trust Bank (SMTB) and also the launch of its maiden private equity fund, which targets deployment of over ₹3,000 crore.

The fund would focus on high-growth mid-market businesses across energy, mobility and manufacturing, with scale-up capital of ₹ 100–500 crore for enterprises with revenue between ₹200 and 2,000 crore, the firm said.

According to the firm, it has already started deploying capital, with Bengaluru-based electric mobility company Yulu as its first investment, made as part of Yulu’s $93 million Series C round.

One Planet Partners’ founding team include Mukund Rajan and Bobby Pauly, who launched and led Tata Capital’s private equity business; Mrinalini Mirchandani, the first female Senior Partner at McKinsey & Co India, where she led Private Equity; and Sheetal Thakkar, who has investment experience at Blackstone and Tata Capital.

SMTB, the Japanese financial institution, has made a strategic equity investment in One Planet Partners, alongside the anchoring of a dedicated private equity fund managed by One Planet.

This collaboration marked the formal launch of One Planet’s investment programme targeting high-growth businesses benefiting from India’s energy transition, mobility and manufacturing-led industrial expansion, said the firm.

Mukund Rajan, Founder and Chairperson, One Planet Partners, said: “With strong institutional support, our ambition is to build a world-class investment platform focused on high-growth businesses at the intersection of India’s economic expansion, energy transition, and industrial transformation.”

Commenting on the investment, Kazuya Yoneda, General Manager – Equity Investment Department, of Sumitomo Mitsui Trust Bank, said: “India is one of the world’s most compelling long-term investment destinations.’’

SMTB’s strategic investment reflected confidence in both the market and One Planet Partners’ proven track record, institutional approach, and differentiated ability to access and create value in India’s private markets.

“We look forward to building a long-term partnership across asset classes,” Mr.

Yoneda added.

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