Private equity firm India Value Fund Advisors (IVFA) is set to expand its investment in food sector.
The new investments will be led by Haresh Chawla, a partner of IVFA and the former CEO of Network18.
The company will also expand its business in consumer internet sector.
As part of the new development, Chawla is expected to form a separate entity in his personal capacity to invest in early stage companies from these sectors and also generate capital from other investors and partners.
India Value Fund managing partner Vishal Nevatia was quoted by VCCircle as saying: "We think Haresh's passion, entrepreneurial energy and experience can be better leveraged in high-growth industries and businesses, and we see both food and consumer internet as sectors that hold a promising future for IVFA's funds."
In addition, IVFA plans to invest $70m to acquire a substantial stake in spice exporter VKL Seasoning and is expected to spend additional $200m in the food industry over the next three to five years.
Earlier, IVFA planned to acquire stakes in Dubai-based Dodsal Group's food business which holds the franchise rights for Pizza Hut restaurants in south and west India, The Economic Times said.
