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extensive financial and operational support to create a network of industry-leading champions that can transform our outdated food systems and solve challenges in climate, health and nutrition, resource efficiency and rural employment.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

Mandala Capital exits Godavari Biorefineries through an IPO.

Mandala Capital is excited to announce the successful IPO of our portfolio company, Godavari Biorefineries.

Godavari has been completely transformed since Mandala’s initial investment in 2015.
From a traditional sugar processor, Godavari is now valorising various sugarcane waste and byproduct streams such as molasses, bagasse and press mud to create biofuels, biochemicals, renewable energy and bio fertilizers.

Godavari can now claim to be:
◦ One of India’s leading producers of ethanol (600KLPD distillery capacity) and green chemistry products (117,106 MTPA production capacity) including Crotonaldehyde, Bio Ethyl Acetate and Bio Ethyl Vinyl Ethers as of March 2024
◦ 1 of only 2 Indian manufacturers of natural 1,3 Butylene Glycol as of March 2024
◦ Globally, the largest producer of 3 Methyl-3 Penten-2-One in terms of installed capacity as of March 2024

Godavari has also had a direct and indirect impact on several rural beneficiaries through its various programs and efforts.

During our investment period, Godavari was Responsible Care® certified, received the BONSUCRO certification for its focus on sustainability and has received various awards recognising efforts in water management and green energy.

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