Mandala Capital

Mandala Capital, established in 2008 and headquartered in Mauritius, is a private equity firm that specializes in long-term investments in the agribusiness and food-related sectors, primarily focusing on the Indian subcontinent and Southeast Asia. The firm partners with companies demonstrating the potential to become leaders in their fields, providing them with capital and expertise to enhance their value. Mandala manages several investment funds, including the Mandala Agribusiness Fund and the upcoming Mandala Food Fund III, both aimed at acquiring majority stakes in agriculture and food product companies. In addition to financial returns, Mandala is committed to promoting environmental sustainability and community development through its investment strategy.

Gopal Arjun

COO

Uday Garg

Managing Partner and Founder

Aditya Mody

Managing Director, Investments

8 past transactions

Nutrition Technologies

Series A in 2022
Nutrition Technologies Ltd. specializes in producing sustainable insect proteins, oils, and frass derived from black soldier fly larvae, targeting the aquaculture, agriculture, and animal feed industries. Founded in 2016 and headquartered in High Wycombe, United Kingdom, the company operates its main production facility in Johor Bahru, Malaysia. Utilizing a unique nutrient recycling process, Nutrition Technologies transforms low-grade agricultural and industrial food waste into high-value products, including Hi.Protein™, Hi.Oil™, Hi.Dried larvae, Hi.Live larvae, and Hi.Frass. These products not only serve as nutritious feed for fish, chickens, and other animals but also contribute to soil enrichment. The company has established research partnerships with various institutions across Southeast Asia to enhance its offerings and is actively conducting feed trials. Recently, Nutrition Technologies secured Series A funding to expand its operations further, with aspirations to develop Southeast Asia's largest insect protein production facility. Through its innovative approach, Nutrition Technologies aims to lead the region in providing sustainable solutions for animal nutrition and food production.

Gati Kausar

Acquisition in 2021
Gati Kausar operates as a cold chain transportation across user verticals such as healthcare, meat & poultry, bio-pharma, frozen & fresh produce, dairy products, organised retail and quick service restaurants.

EFRAC

Acquisition in 2016
EFRAC operates as an integrated testing and research lab for food & agri, pharma and environment sectors.
Jain Irrigation Systems Limited, founded in 1963 and headquartered in Jalgaon, India, is a leading micro-irrigation company with a global presence across multiple continents, serving over 4.5 million farmers in 116 countries. The company operates through various divisions, including Hi-Tech Agri Input Products, Plastic, Agro Processing, and others, offering a comprehensive range of products such as drip and sprinkler irrigation systems, PVC pipes, and protected cultivation solutions like greenhouses and net houses. Jain Irrigation is also noted for its tissue culture production, processing of dehydrated and frozen fruits, and development of solar energy solutions, including photovoltaic modules and solar pumping systems. It employs approximately 1,500 agricultural scientists and engineers, providing services from project planning to agronomic support. The company emphasizes sustainable farming practices and operates a significant research and development facility, contributing to advancements in agricultural technology and productivity. Jain Irrigation's diverse product portfolio and commitment to innovation have established it as a total agri-service provider, recognized for excellence in quality and business practices.
Jain Irrigation Systems Limited, founded in 1963 and headquartered in Jalgaon, India, is a leading micro-irrigation company with a global presence across multiple continents, serving over 4.5 million farmers in 116 countries. The company operates through various divisions, including Hi-Tech Agri Input Products, Plastic, Agro Processing, and others, offering a comprehensive range of products such as drip and sprinkler irrigation systems, PVC pipes, and protected cultivation solutions like greenhouses and net houses. Jain Irrigation is also noted for its tissue culture production, processing of dehydrated and frozen fruits, and development of solar energy solutions, including photovoltaic modules and solar pumping systems. It employs approximately 1,500 agricultural scientists and engineers, providing services from project planning to agronomic support. The company emphasizes sustainable farming practices and operates a significant research and development facility, contributing to advancements in agricultural technology and productivity. Jain Irrigation's diverse product portfolio and commitment to innovation have established it as a total agri-service provider, recognized for excellence in quality and business practices.

Godavari Biorefineries

Venture Round in 2015
Godavari Biorefineries is a biorefining company producing sugar, other foods, biofuels, chemicals, power, compost, waxes, and related products, using sugarcane as the primary feedstock. Their aim is to engage in research and innovate by continuously making new products and entering new markets in order to derive the maximum value from our feedstock. Their research areas include sustainable farming, transformation of biomass (chemical, mechanical and biological), product development, and process optimization. Founded in 1939, they have been pioneers in the growing, processing, and utilization of biomass to make a wide variety of products.
Sustainable Agro-commercial Finance Ltd. (SAFL) provides loans to small-scale farmers to help them install micro-irrigation systems and improve productivity.

Arcadia Biosciences

Series D in 2014
Arcadia Biosciences is an agricultural technology company that focuses on developing crop productivity traits primarily in hemp, wheat, and soybean. Its innovations aim to enhance farm economics by improving crop performance and the value of agricultural products for food, health, and industrial applications. Key offerings include GoodHemp, a line of non-GMO hemp seed varieties, GoodWheat, which transforms wheat into a functional food, and HB4, a drought and herbicide tolerant soybean trait. The company employs advanced screening, breeding, and biotechnology techniques to promote agricultural efficiency and environmental sustainability. Arcadia has established partnerships with several organizations, including Ardent Mills and Corteva AgriScience, and operates in the United States, Canada, Africa, and India. Founded in 2002 and headquartered in Davis, California, Arcadia has granted over 70 technology licenses globally to major seed and consumer product companies.
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