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Hindustan Unilever picking up stake in Circulate Capital-backed plastics recycling firm
VCCircle
·
5m ago
Medial
Hindustan Unilever Ltd is acquiring a 14.3% stake in Lucro Plastecycle Pvt. Ltd, a recycling and engineered plastics manufacturer supported by Circulate Capital. This investment aims to enhance plastic circularity and increase recycled content for flexible packaging, promoting sustainable practices. Founded in 2012, Lucro Plastecycle specializes in recycling and manufacturing flexible packaging products. The company’s net sales grew by 57% in 2023-24, with net profit tripling. Circulate Capital initially invested in Lucro in 2020.
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Circulate Capital hires JM Financial PE exec to beef up South Asia team
VCCircle
·
6m ago
Medial
Circulate Capital, a Singapore-based private equity firm focusing on environmental investments, has bolstered its South Asia team by hiring a senior executive from JM Financial Private Equity in Mumbai. The firm has previously invested in Indian waste management and recycling businesses, including Recykal and Srichakra Polyplast, emphasizing its commitment to fostering sustainable practices in the region. This strategic move aims to enhance Circulate Capital's investment leadership and expand its impact in South Asia.
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Circulate Capital-backed Srichakra Polyplast gets funding from family offices
VCCircle
·
6m ago
Medial
Srichakra Polyplast India Pvt Ltd, a plastic recycling and waste management company backed by Circulate Capital, has raised new funding. The capital infusion comes from a combination of domestic and international family offices. This development highlights continued investment interest in environmentally sustainable businesses. The Hyderabad-based company aims to enhance its operations with the fresh funds, though the exact amount raised remains undisclosed.
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Grapevine: Dunzo, HUL, Minimalist, Zepto, Blackstone, and EPL in news
VCCircle
·
8m ago
Medial
Dunzo is reportedly facing a possible distress sale, with media reports indicating that Hindustan Unilever is eyeing the acquisition of Minimalist, backed by Peak XV. Meanwhile, Zepto is gearing up for a stock market listing. Additionally, Blackstone is seeking an adviser to facilitate the sale of its stake in EPL. These developments highlight significant strategic movements among these companies as they navigate challenges and opportunities in their respective industries.
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HUL launches 'Climate Incubation Hub' to accelerate climate-positive innovations with IIM Bangalore's startup hub
Economic Times
·
5m ago
Medial
Hindustan Unilever Limited (HUL) launched the Climate Incubation Hub with IIM Bangalore's NSRCEL to support climate-focused startups in India. The initiative aims to develop solutions addressing climate, nature, and plastics circularity challenges. The program provides tailored mentorship, emphasizes product-market fit, and offers grants to up to 15 startups. It seeks to foster innovations in sustainable practices, contributing to India's vision of a sustainable future and positioning the country as a hub for climate-positive solutions.
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L Catterton partners Sanjiv Mehta for India investment venture
Thehindubusinessline
·
1y ago
Medial
Global investment firm L Catterton has partnered with former Hindustan Unilever executive Sanjiv Mehta to launch an India-focused joint venture. Mehta, who served as CEO and managing director of Hindustan Unilever, will assume the role of Executive Chairman of the new venture from April 2024. The move reflects L Catterton's commitment to investing in India's consumer businesses given the country's large population and promising GDP growth. L Catterton manages around $35bn of equity capital across private equity, credit, and real estate platforms.
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Peak XV, Surge, Unilever Ventures land a bonanza as HUL snaps up Minimalist
VCCircle
·
7m ago
Medial
Hindustan Unilever Ltd (HUL) has agreed to acquire Minimalist, a direct-to-consumer skincare brand, to enhance its skincare and personal care portfolio. As a result, venture capital firm Peak XV Partners, its seed-stage platform Surge, and Unilever Ventures are set to achieve significant returns on their investment in Minimalist. This acquisition marks a strategic move for HUL to expand its offerings in the competitive skincare industry.
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D2C label Minimalist in talks to snag fresh VC funding
VCCircle
·
8m ago
Medial
Direct-to-consumer skincare brand Minimalist is in discussions to secure new funding from a notable venture capital firm. This development comes amid reports that Hindustan Unilever Ltd is interested in acquiring the company. Operated by Jaipur-based Uprising Science Pvt. Ltd, Minimalist is aiming to raise a substantial amount through this fresh funding initiative.
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Peak XV Partners wraps up over $300 mn exit from India portfolio
VCCircle
·
3m ago
Medial
Peak XV Partners, formerly Sequoia Capital India, recently exited its non-tech investment in India with over $300 million in returns. The venture capital firm has been successful with its seed-stage platform Surge, achieving significant returns from its investment in direct-to-consumer brand Minimalist, which Hindustan Unilever Ltd acquired. This success marks a notable achievement for Peak XV Partners in the investment landscape.
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Government rejects Vedanta-controlled Hindustan Zinc's plan to split company
VCCircle
·
1y ago
Medial
The Indian government has rejected Hindustan Zinc's plan to split the company into separate units, stating that it is not convinced that this move would benefit shareholders. Hindustan Zinc, a company controlled by Vedanta, had proposed creating separate entities for its zinc, lead, silver, and recycling businesses, but did not consult with the government. The government, which holds a nearly 30% stake in Hindustan Zinc, has raised objections and questioned the rationale behind the split. Hindustan Zinc's CEO believes that the split would enhance the company's market capitalization.
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Vedanta to offload Rs 7,500 cr worth stake in Hindustan Zinc via block deals: Report
Economic Times
·
2m ago
Medial
Vedanta plans to sell shares worth Rs 7,500 crore in Hindustan Zinc Ltd via block deals, potentially at a discount of up to 10%, managed by DAM Capital and Citi. Vedanta currently holds a 63.42% stake in Hindustan Zinc. Concurrently, Hindustan Zinc approved a Rs 12,000 crore capital expansion plan to establish a 250,000-tonne per annum integrated zinc metal complex in Rajasthan, aiming to double its production capacity in zinc, lead, and silver.
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