Japan’s Sumitomo Mitsui Trust Bank has acquired a minority stake in Indian private equity firm One Planet Partners and agreed to anchor its inaugural fund, which is targeting investments of approximately INR30bn over the next five years, according to a report by Bloomberg.
One Planet reportedly plans to invest across energy transition, mobility and manufacturing, targeting mid-market Indian businesses that have historically attracted less institutional capital than larger companies. The firm expects to make investments of between $25m and $75m in real assets across its chosen sectors.
Founded in 2024 by former Tata Group executives Mukund Rajan and Bobby Pauly, alongside former McKinsey partner Mrinalini Mirchandani and former Blackstone executive Sheetal Thakkar, One Planet completed its first investment in mobility company Yulu Bikes in August.
The firm reportedly plans to raise additional capital from Japanese, Asian and Indian institutional investors, targeting gross returns of 25% to 30% to help offset currency depreciation for international investors. The investment reflects growing Japanese institutional interest in India’s private markets, particularly in sectors benefiting from economic growth and infrastructure development.
