Le Lézard
Classified in: Business
Subjects: PDT, VEN

57 Stars invests in WayCool, India's leading food and agri-tech platform


WayCool marks the first transaction for 57 Stars Direct Impact Fund

WASHINGTON, June 29, 2022 /PRNewswire/ -- 57 Stars LLC, an independent global alternative investment firm targeting high-growth sectors driven by technological innovation, is pleased to announce it has led a USD 40 million investment in WayCool Foods & Products Private Limited ("WayCool"), India's leading food and agri-tech platform. The investment is the first transaction for 57 Stars Direct Impact Fund and the second investment for 57 Stars Global Innovation Fund 2 ("GIF 2").

57 Stars is an independent global alternative investment manager with more than USD 4.5 billion in commitments raised and managed, and a presence in six cities globally. Founded in 2005, the firm seeks to generate superior risk-adjusted returns by investing in high-growth sectors of the global economy driven by secular tailwinds, disruptive forces, and technological innovation.

One of India's fastest-growing food and agri-tech companies, WayCool leads India's food economy transformation by streamlining supply chains. WayCool provides farmers with cohesive solutions, potentially increasing their income by up to 30% while reducing food waste by up to 70%. Through strict ESG management, WayCool seeks to become energy-, water-, and carbon-neutral, further mitigating its environmental impact.

57 Stars' investment exemplifies the firm's commitment to sustainable development and its dedicated impact investing strategy, which seeks to deliver compelling financial returns alongside meaningful positive social and/or environmental impacts.

"The Indian agricultural market's fragmented structure separates farmers from end-markets through multiple intermediaries" said Amit Chandra, 57 Stars' Managing Director, "WayCool delivers efficiencies for all stakeholders, from soil to sale."

Chinna Pardhasaradhi, CFO, WayCool, said "We are happy to partner with 57 Stars in the next phase of our journey. This investment illustrates the continuing confidence of mature global investors in fundamentally sound businesses delivering lasting impact."

WayCool Foods & Products

WayCool is one of India's leading food and agri-tech platforms. Focusing on food development and distribution, the company leverages innovative technology to scale and operate a complex supply chain from soil to sale. WayCool works with more than 150,000 farmers, and operates a full stack, broadline product range across multiple channels, serving over 100,000 clients.

57 Stars Direct Impact Fund

The Direct Impact Fund is 57 Stars' impact-focused co-investment vehicle seeking compelling risk-adjusted returns and measurable impact outcomes. Focusing particularly on environmental sustainability, healthcare, and financial inclusion, the Direct Impact Fund leverages 57 Stars' global platform to co-invest in tech-driven, high-growth businesses promoting environmental sustainability and improving access to products and services for underserved populations, in alignment with the Sustainable Development Goals.

57 Stars Global Innovation Fund 2

GIF 2 is 57 Stars' sixth-generation flagship investment vehicle. It is a sector-focused, global, thematic fund committing to structured partnerships, co-investments, and secondaries. Targeting high-growth sectors, GIF 2 seeks to benefit from innovation in tech-enabled consumer and enterprise solutions, health and care-related technologies, environmental sustainability, and fintech / financial services.

57 Stars LLC 

57 Stars is an independent global alternative investment manager with more than USD 4.5 billion in commitments raised and managed, and a presence in six cities globally. Founded in 2005, the firm seeks to generate superior risk-adjusted returns by investing in high-growth sectors of the global economy driven by secular tailwinds, disruptive forces, and technological innovation.

Contact:
Kyoko Terada
+1-202-629-5852
[email protected]

Full press release: https://www.57stars.com/wp-content/uploads/2022/06/WayCool_Announcement.pdf

Logo - https://mma.prnewswire.com/media/1848560/57_Logo_Large_Logo.jpg


These press releases may also interest you

at 14:30
Transaction in Own Shares 28 March, 2024 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Shell plc (the ?Company') announces that on 28 March 2024 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according...

at 14:30
Southwest Airlines Co.  announces the acquisition of SAFFiRE Renewables, LLC (SAFFiRE) as part of the investment portfolio of its wholly owned subsidiary Southwest Airlines Renewable Ventures, LLC (SARV). SARV is dedicated to creating more...

at 14:28
Nuventive, the data-informed improvement companytm, today announced a partnership with D2L, a global learning technology company, to simplify student outcomes analysis and advancement. By linking reports from the D2L Brightspace learning management...

at 14:25
Regulatory News: POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and...

at 14:20
Koryx Copper Inc. ("Koryx" or the "Company") announces that the Company has closed a non-brokered private placement (the "Offering") for a total gross proceed of $1,505,250. The Offering closed 23,157,692 units of the Company (each, a "Unit") at...

at 14:20
Mishe (say "mish-e"), an innovator in direct healthcare, announces the launch of Downstate's Transparent Access Plan, making SUNY Downstate Health Sciences University the first hospital system in the US to offer transparent upfront pricing for its...



News published on and distributed by: