Investor Profile: One Planet Partners — Thesis, Cheque Size & How to Apply

One Planet Partners is a Mumbai based private equity firm founded in 2024 that, on 29 October 2026, launched its maiden private equity fund in partnership with Japan's Sumitomo Mitsui Trust Bank, known as SMTB. The fund targets deployment of more than Rs 3,000 crore, with a first close planned by mid-2027.

Investment thesis

The thesis is that India's economic expansion, energy transition and industrial transformation are creating mid-market companies too large for venture capital and too early, or too operationally complex, for a straightforward public listing. One Planet Partners aims to combine growth capital with active ownership and operational expertise to help such businesses scale and strengthen their competitive position. SMTB has made a strategic equity investment in One Planet Partners and anchored the dedicated fund it manages, giving the new firm institutional backing from a major Japanese financial institution. Founder and chairperson Mukund Rajan framed the ambition as building a world class platform at the intersection of India's economic expansion, energy transition and industrial transformation.

Sectors and stages

One Planet Partners will focus on high growth mid-market businesses in energy transition, mobility and manufacturing led industrial expansion. It will provide scale up capital of Rs 100 crore to Rs 500 crore per investment to enterprises with revenues between Rs 200 crore and Rs 2,000 crore and attractive unit economics. That is a very different stage from seed or Series A venture funding. The ideal company already has customers, revenue and a proven operating model, and needs capital to build capacity, enter new markets, acquire capability or professionalise operations. Founders outside those revenue bands, or still proving product market fit, are unlikely to be a fit, however strong their idea.

Notable portfolio / track record

One Planet Partners has already begun deploying capital, and its first investment is Bengaluru based Yulu Bikes Private Limited, as part of Yulu's $93 million Series C round. Yulu, backed by Bajaj Auto and Magna International, operates in last mile transportation and delivery serving quick commerce and e-commerce, a neat illustration of the mobility thesis: an operating business with real fleets, real customers and a clear scaling challenge. The founding team brings relevant experience. Mukund Rajan and Bobby Pauly played key roles in launching and leading Tata Capital's private equity business. Mrinalini Mirchandani was previously a senior partner at McKinsey and Company India, and Sheetal Thakkar has investment experience at Blackstone and Tata Capital.

How to apply for funding

No public application portal for One Planet Partners was published with its maiden fund announcement, and mid-market private equity deals are normally sourced directly rather than through an open form. If your company sits inside the stated bands, with revenue between Rs 200 crore and Rs 2,000 crore, attractive unit economics and a credible need for Rs 100 crore to Rs 500 crore of scale up capital in energy, mobility or manufacturing, the practical route is a direct approach through your board, existing investors or an investment banking adviser, with a clear investment case. That case should state current revenue and margins, what the capital will build, what operational help you want beyond money, and what exit path you envisage.