# One Planet Partners Launches Maiden Fund With SMTB Partnership The private equity firm targets ₹3,000 crore to fuel India's energy and industrial growth. - **Source:** [mint - companies](https://www.livemint.com/rss/companies) - **Published:** 2026-10-29 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/f8e44e62-8252-4a0a-b59f-2df935420bbc ## Strategic Japan-India Partnership One Planet Partners has officially launched its maiden private equity fund through a strategic partnership with Japan’s Sumitomo Mitsui Trust Bank. The collaboration aims to deploy approximately ₹3,000 crore into the Indian market. SMTB, managing over $1.1 trillion in assets, serves as the anchor investor, signaling strong confidence in India's long-term investment potential. ## Targeting High-Growth Sectors The fund focuses on three core pillars: energy transition, mobility, and manufacturing-led industrial expansion. By targeting businesses benefiting from structural economic shifts, the firm seeks to capitalize on India's digital economy and electrification trends. This thematic approach aligns with the partners' expertise in identifying scalable enterprises with strong domestic and export potential. ## Experienced Founding Leadership Founded in 2024, the firm is led by Mukund Rajan and Bobby Pauly, both former Tata Group executives with deep private equity experience. They are joined by Mrinalini Mirchandani, formerly of McKinsey & Co, and Sheetal Thakkar, who brings experience from Blackstone. This team combines institutional rigor with unique market access. ## Bridging the Capital Gap The fund aims to invest between $25 million and $75 million per transaction, specifically targeting the missing middle in private equity. This strategy addresses the gap between early-stage venture capital and large buyout funds. By focusing on mid-market businesses, the firm provides essential growth capital to companies with significant revenue scale. ## Initial Deployment and Strategy The platform has already initiated capital deployment, participating in a $93 million funding round for Bengaluru-based Yulu Bikes. The firm has identified a pipeline of over 3,000 companies growing at more than 20% annually. By warehousing assets before the fund launch, they aim to provide immediate value to incoming limited partners. ## Fast Capital and Exits Approximately 15-20% of the fund is allocated to fast capital investments, targeting exits within two to three years. This approach is designed to generate early DPI and establish a track record for future fundraising. The firm anticipates exit routes through initial public offerings, strategic sales, and sponsor exits over five-year horizons. ## Broadening Investor Base Beyond the anchor investment from SMTB, the firm is actively courting international limited partners and development finance institutions. Domestically, they are targeting insurance companies and large family offices to expand their capital pool. With co-investments from these partners, the total deployment could eventually exceed the initial ₹3,000 crore target set today. ## Operational Value Creation The firm differentiates itself by combining growth capital with active ownership and operational expertise. Rather than investing in infrastructure projects directly, they focus on the technologies and equipment enabling infrastructure, such as renewable energy components and medical devices. This hands-on model aims to strengthen the competitive positioning of their portfolio companies. ## Sources covering this story - https://www.livemint.com/companies/start-ups/one-planet-partners-sumitomo-mitsui-trust-bank-rs-3000-crore-fund-11793251105137.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._