One Planet Partners dedicated private equity fund will provide scale-up capital of ₹100–500 crore to mid-market businesses with revenues between ₹200 crore and ₹2,000 crore
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India-focused private equity firm One Planet Partners on Thursday launched its maiden fund and announced a strategic partnership with Sumitomo Mitsui Trust Bank (SMTB) of Japan, targeting deployment of over ₹3,000 crore with a first close planned by mid-2027.
SMTB has made a strategic equity investment in One Planet Partners and anchored a dedicated private equity fund managed by the firm. The fund will provide scale-up capital of ₹100–500 crore to mid-market businesses with revenues between ₹200 crore and ₹2,000 crore, focusing on energy transition, mobility, and manufacturing sectors.
One Planet Partners was founded in 2024 by four partners: Dr. Mukund Rajan and Bobby Pauly, formerly of Tata Capital’s private equity business; Mrinalini Mirchandani, previously Senior Partner at McKinsey & Company India; and Sheetal Thakkar, who has worked at Blackstone and Tata Capital.
The firm has already made its first investment, participating in Bengaluru-based electric mobility company Yulu Bikes’ $93-million Series C funding round. Yulu, backed by Bajaj Auto and Magna International, operates in last-mile transportation and delivery serving the quick-commerce and e-commerce sectors.
The SMTB partnership represents a broader push by Japanese institutional capital into India’s private markets, with the bank citing India as a compelling long-term investment destination.
Published on October 29, 2026
