The Rise Fund, a global fund, today announced that it has agreed to invest USD 50 million in city-based Dodla Dairy Ltd (Dodla). The investment in Dodla, which is subject to regulatory approval, will be The Rise Fund’s first in the food and agriculture sector, as well as its first in India, a statement issued by TPG Growth that manages The Rise Fund, said.
“India’s dairy consumption has been experiencing robust growth, fuelled by urbanisation, increasing incomes, and health consciousness among consumers. Dodla is well-positioned to capitalise on these growth trends. We look forward to working with Dodla to enhance its brand,” said Vish Narain, Partner at TPG Growth.
The Rise Fund focuses on investments in sectors — education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media and telecommunications.
Each sector is managed by a sector lead who works closely with the investing teams. Joy Basu leads The Rise Fund’s Food and Agriculture Sector team, it said.
Founded in 1995, Dodla procures and processes fresh milk to sell high-quality dairy products across 66 regions in South India. In addition to its core product, fresh packaged liquid milk, Dodla’s offerings include products such as curd, butter, and ghee.