Mumbai: Private equity fund Saif Partners has invested $10 million in Gujarat-based juice manufacturing company Manpasand Beverages Ltd for a significant minority stake, according to a statement.
Manpasand makes and markets juice brand Mango Sip and has presence in tier II cities and rural markets besides supplying to leading chains like Big Bazaar and D Mart, the statement said.
Saif Partners is an Asia-focussed fund, which manages assets worth $3.5 billion.
Indian boutique advisory firm, Sagacious Financial Services was the sole arranger to the transaction, it added.
Private equity investments in India grew 21.6% to $3.3 billion in the first half of this year with 61 transactions, according to Thomson Reuters data.