One Planet Partners Launches 30 Billion Rupee Fund with Japanese Backing

Strategic Partnership for Indian Growth

Mumbai-based asset management firm One Planet Partners has entered a partnership with Japan’s Sumitomo Mitsui Trust Bank to launch its debut private equity fund, valued at 3,000 crore rupees. The Japanese financial institution has committed equity investment into the firm while also anchoring the new fund.

Founded in 2024 by partners Mukund Rajan, Bobby Pauly, Mrinalini Mirchandani, and Sheetal Thakkar, One Planet Partners plans to target mid-market businesses. The firm intends to provide capital ranging from 100 crore to 500 crore rupees to enterprises generating between 200 crore and 2,000 crore rupees in revenue.

The fund will prioritize companies operating within India’s energy transition, mobility, and manufacturing sectors. According to the firm, the objective is to combine growth capital with operational expertise to improve the competitive positioning of portfolio companies.

Initial Deployments and Market Outlook

The firm has already initiated capital deployment, participating in a 93 million dollar Series C funding round for Bengaluru-based electric mobility company Yulu Bikes Private Limited.

Mukund Rajan, founder and chairperson of One Planet Partners, stated the firm intends to build an investment platform centered on the intersection of India’s economic expansion and industrial transformation. Kazuya Yoneda, general manager of the equity investment department at Sumitomo Mitsui Trust Bank, cited confidence in the Indian market and the firm’s institutional approach as key drivers for the investment.

Why it matters: This partnership highlights growing international interest in India’s industrial and energy sectors. For investors in emerging markets, including those in the Middle East and Egypt, the model demonstrates how localized, sector-specific private equity funds can successfully attract institutional capital from major global financial hubs like Japan to drive infrastructure and mobility growth.