Bringing capital
to life.

Mandala Capital is a vision driven investment firm with an aim to transform the lives of hundreds of millions of farmers, making agriculture more sustainable, climate friendly and resilient while increasing people’s access to affordable, healthy and nutritious food.

 

We are a financial-first impact investor with a focus on investments in the food and agriculture value chain across South and South East Asia.

The region and sector offer compelling investment opportunities with a young and rapidly urbanizing population of 2 billion of which half remain linked to agriculture, a rising GDP per capita and stable economies. The region stands as an agriculture powerhouse and a global leader in the production of most major fruits and crops.

Largely private, family-owned companies coupled with small holder farmer producers have led to the region falling behind global peers on efficiency, productivity and technology adoption, creating areas for value addition and economies of scale.

We partner with visionary teams and executives and provide extensive financial and operational support to create a network of industry-leading champions that can transform our outdated food systems and solve challenges in climate, health and nutrition, resource efficiency and rural employment.

Let Mandala’s Managing Partner Uday Garg explain our mission and investment approach to you personally.

“The next ten years will be transformative for the sector as it faces challenges related to supply chain, climate change and resource efficiency coupled with rising demand.”

The Mandala
playbook

We take a highly operational approach to deliver exceptional performance. We identify scalable companies with a sustainable competitive advantage and make them regional, national and global industry leaders that can deliver attractive financial and social returns for our investors.

 

 

Thesis driven

We are focused in our research to identify the right areas for investments within a very large value chain. This results in stronger conviction, a better diligence process and greater understanding of the right business valuation.

Deal creation

We look beyond the spreadsheet and take the time to understand understand strategic and operational nuances. We understand family-run companies and form strong relationship networks with partners, supporting them through both good and challenging times.

Deal structuring

We are innovative and creative in deal structuring, giving us the ability to invest across the capital structure to achieve win-win outcomes for both the companies and our investors.

Value creation

We are thought leaders in our field. Our deep network and sector expertise enables us to transform business models, create efficiencies, drive growth and help build more resilient and valuable businesses.

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Our Impact

Impact Report 2024:
Building a Resilient Food System

In the light of recent global challenges such as climate change, food security, and economic fluctuation, we are dedicated to continuing our efforts, scaling our impact, and collaborating with stakeholders to build resilient, inclusive, and sustainable food systems.

At Mandala Capital, we are committed to achieving the UN Sustainable Development Goals (SDGs) through our investments. In 2023, for every US$1 Mandala Capital invested in, approximately US$5.4 of social value has been created.

We are thrilled to share the significant impact that our portfolio companies have achieved this year in our latest impact report, Building a Resilient Food System.

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Mandala Capital Secures $36M funding from the Green Climate Fund to Scale Climate Resilience across the Agriculture and Food Sector in South and Southeast Asia

Mandala Capital secures $36M from the Green Climate Fund to anchor its $250Mblended finance fund driving climate adaptation across Asia. Investors and partners can contact us to learn more.

SINGAPORE, Oct. 30, 2025 /PRNewswire/ — Mandala Capital, a private equity fund investing in the agriculture and food sectors across South and Southeast Asia, announced today that the Green Climate Fund (“GCF”) has officially approved the Mandala Capital SSEA Food Fund at its 43rd Board Meeting.

GCF committed USD 36 million as an anchor investor in the USD 250 million blended finance fund aimed at accelerating climate adaptation across the region’s agrifood systems.

Bridging the Investment Gap in Agriculture

Agriculture and food systems across South and Southeast Asia face a significant financing gap, despite their vital role in regional livelihoods and global food security. Agriculture contributes to 13% of regional GDP and employs over one-third of the population, yet investment in climate-resilient agriculture remains insufficient.

At the same time, climate change is expected to reduce crop yields by 10–20% in the coming decades, threatening the livelihoods of millions of smallholder farmers.

“For years, we’ve heard that private finance is hard to mobilize for climate adaptation, today, Mandala Capital and the GCF are proving otherwise. Through the SSEA Food Fund, concessional capital from GCF is unlocking, through Mandala, millions in private investment that will strengthen the resilience of thousands rural households across three Southeast Asian countries.” said Demetrio Innocenti, Climate and Gender Specialist at Mandala Capital.

Driving Climate Resilience in Agriculture and Food Systems

Through GCF’s commitment, Mandala Capital will mobilize additional private investment to scale climate adaptation solutions and strengthen value chains that support over 12 million people across South and Southeast Asia.

“This partnership demonstrates how blended finance can bring the private sector to the forefront of climate action, mobilizing investments that strengthen food security and build climate resilience across the Philippines and the region. The Philippines’ NDA welcomes Mandala Capital’s commitment to channel a portion of the fund’s investment into local initiatives, supporting innovative SMEs that can deliver real, scalable impact. This initiative underscores how private capital can be effectively leveraged to accelerate resilience and transformation in the agrifood sector.” Said Mr. Joven Balbosa Undersecretary, International Finance Group, Philippines NDA.

Mandala Capital SSEA Food Programme will invest in profitable, scalable companies that are driving the shift toward more affordable, accessible, and climate-resilient food system. Its primary climate rationale addresses the region-specific challenges like food wastage, price surges, malnutrition, low agricultural productivity and escalating protein demands.

“With 15 years of experience, a team based in South and Southeast Asia, strong strategic partnerships, and a deal pipeline built through long-standing relationships, Mandala Capital is well positioned to deliver strong financial return while driving climate resilience. 

The GCF investment reinforces the climate ambition and provides the blended finance structure needed to bring in additional private capital and scale transformative adaptation solutions across the region in the agriculture and food sector.” said Uday Garg, Founder and Managing Partner at Mandala Capital

Mandala brings a proven track record, having successfully exited 80% of its investments across its first two funds, demonstrating the team’s ability to execute and deliver value for investors.

Partnering for Scalable Impact

“The Mandala Capital SSEA Food Programme is strongly aligned with GCF’s strategy. It will strengthen food and income security by investing in small and medium enterprises that support climate-resilient agriculture across Southeast Asia. The blended finance structure will mobilize private capital into adaptation-focused investments via a sustainable financing model which will build long-term resilience“, said Kavita Sinha, Director of the Green Climate Fund’s Department of the Private Sector Facility.

With GCF’s anchor commitment, Mandala Capital is now raising its $250 million blended finance fund to scale climate adaptation solutions and build more resilient food systems.

Investors and partners interested in learning more are invited to contact us at kcygler@mandala-capital.com / ir@mandala-capital.com 

About Mandala Capital

Mandala Capital is a private equity firm investing across the food and agriculture value chain within Southeast Asia and India. Since 2008, Mandala Capital has deployed over USD 250 million across the sector, working closely with management teams to build industry leaders to transform existing food systems.

For more information, visit www.mandala-capital.com

About the Green Climate Fund

The Green Climate Fund (GCF) is the world’s largest climate finance institution, supporting developing countries in their transition toward low-emission and climate-resilient development. GCF has a portfolio of USD 18 billion delivering transformative climate action in more than 130 countries. 

For more information, visit www.greenclimate.fund

Mandala Capital portfolio company, Techcoop has raised $70m in a new round of funding

Early 2024, Mandala Capital invested in Techcoop. The company is on a mission to empower millions of smallholder’s farmers in Vietnam by providing an integrated financing platform that facilitates access to financing.

By streamlining access to working capital across the agricultural supply chain, from agribusinesses to individual farmers, Techcoop is driving financial inclusion at scale and at a low cost.

On the back of a successful exit from SAFL, an agri-lending platform in India, Mandala Capital has a profound understanding of the industry.

Mandala Capital has won the Operational Value Add Award at the Asian Venture Capital Journal (AVCJ)

Mandala Capital is thrilled to announce that we have won the Operational Value Add Award at the Asian Venture Capital Journal (AVCJ) Awards 2024 for our portfolio company EFRAC.

The award was judged by the AVCJ Editorial Board, alongside a panel of experts specialized in operations.

EFRAC is a leading one-stop Testing Service provider service solution provider in India. Since our investment in 2016, our operating partners have closely collaborated with the EFRAC team, providing them strategic guidance to drive growth. Under Mandala Capital ownership, EFRAC has grown its revenue two-fold and its EBITDA at a CAGR of over 50% in the last five years.

This recognition from AVCJ highlights our commitment to going beyond capital investment by actively partnering with our portfolio companies. Through hands-on operational support and strategic guidance, we have helped EFRAC achieve transformative outcomes by driving growth.

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