One Planet Partners ties up with Japan's Sumitomo Mitsui Trust Bank to launch Rs 3,000 cr fund

One Planet Partners, an India-focused private equity firm, has announced a partnership with Japan's Sumitomo Mitsui Trust Bank and the launch of its Rs 3,000-crore maiden fund.

According to a statement, the Japanese financial institution has made an equity investment in One Planet Partners, alongside the anchoring of a dedicated private equity fund managed by One Planet. The fund will focus on high-growth businesses benefitting from India's energy transition, mobility, and manufacturing-led industrial expansion.

Founded in 2024, One Planet is an asset management firm established by four founding partners Mukund Rajan, Bobby Pauly, Mrinalini Mirchandani, and Sheetal Thakkar.

One Planet Partners will focus on high-growth mid-market businesses, providing scale-up capital of Rs 100 crore to Rs 500 crore to enterprises with attractive unit economics and revenue between Rs 200 crore and Rs 2000 crore.

The firm aims to combine growth capital with active ownership and operational expertise to help businesses scale and strengthen their competitive positioning.

One Planet Partners Founder and Chairperson Mukund Rajan 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."

One Planet Partners has already commenced capital deployment. Bengaluru-based electric mobility company Yulu Bikes Private Limited is the first investment by the platform. The investment was made as part of Yulu's $93 million Series C funding round.

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. Our strategic investment reflects 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.”