L Catterton hires senior Sequoia India exec to lead early-stage deals

 L Catterton hires senior Sequoia India exec to lead early-stage deals

Connecticut, US-based private equity group L Catterton has hired a senior Sequoia Capital India executive and another investment professional to ramp up its Asia operations.

Anjana Sasidharan will join L Catterton next week after spending nearly a decade at Sequoia Capital India. She will be based in Mumbai and lead earlier-stage investments across India and southeast Asia, the PE said in a statement.

L Catterton has also hired Yock Siong “Song” Tee from Asian PE firm Affinity Equity Partners. Tee will join the firm on March 1 in Singapore to oversee Southeast Asia, the firm said.

The appointments come a year after the PE firm recruited CX Partners principal Saurabh Mehta in early 2020 to lead the later-stage investments in India.

The PE firm has tweaked its Asia strategy in recent years, especially after the merger of fashion house LVMH’s PE unit L Capital and US-based Catterton in early 2016 led to a spate of departures.

L Catterton’s India portfolio includes Impresario Entertainment and Hospitality Pvt Ltd, which operates restaurant chain Smoke House Deli and café chain Social; and Future Lifestyle Fashions Ltd. Last year, it wrote its biggest India cheque when it invested $250 million in Reliance Retail Ventures Ltd, the retail arm of billionaire Mukesh Ambani-led conglomerate Reliance Industries Ltd.

New hires

Sasidharan is an engineering graduate from the National Institute of Technology. She is also an alumna of the Indian Institute of Management, Ahmedabad. She began her career with American management consulting firm McKinsey & Company in India before moving to Sequoia.

Sasidharan led a series of investments for the California-based venture capital firm in India and served on the board of nearly a dozen portfolio firms. Her expertise lies in identifying early-stage, fast-growing companies across consumer sectors, particularly in the healthcare space.

She was also responsible for the formation of Sequoia Spark, a community platform designed to foster collaboration and engagement among women founders across India and Southeast Asia.

Tee has executed several late-stage growth and buyout transactions across the consumer, healthcare and education sectors in Southeast Asia. Prior to joining Affinity, he was an associate director at Singapore state investment firm Temasek. He started his career as a management consultant in McKinsey’s Singapore office, and received an MBA from the Wharton School.

“As Southeast Asia and India continue to play an important role in our broader Asia strategy, we are confident that we now have the right team in place in these regions to execute on our longer-term vision,” said L Catterton Asia’s managing partner Chinta Bhagat.

L Catterton is the world’s largest consumer-focused PE group with more than $23 billion in assets. The American-French PE firm focusses on mid-market companies and emerging high-growth enterprises. Since 1989, the firm has made more than 200 investments in brands across all segments of the consumer industry. The firm has 17 offices around the world.

Ankit Doshi

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