HR Food Processing Private Limited

South Asia Food and agriculture

HR Food (Osam Dairy) is a dairy company operating in the east Indian states of Bihar and Jharkhand, procuring milk from over 20,000 small dairy farmers.

  • Active
  • Exited

We are invested in HR Food Processing Private Limited through Aavishkaar India II Company Limited, which is managed by Aavishkaar Venture Management Services.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Aavishkaar India II Company Limited
Fund Manager:
Aavishkaar Venture Management Services
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
October 2013
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
India

We are invested in HR Food Processing Private Limited through Growth Catalyst Partners, which is managed by Lok Capital.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Growth Catalyst Partners
Fund Manager:
Lok Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
November 2016
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
India

We are invested in HR Food Processing Private Limited through Lok Capital Growth Fund, which is managed by Lok Capital.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Lok Capital Growth Fund
Fund Manager:
Lok Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
November 2016
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
India

Our investment

CDC will invest $8 million (INR 55 crores) alongside $2.4 million (INR 16.5 crores) from the Lok Capital Growth Fund (LCGF).

Expected impact

CDC and Lok Capital's investment will enable the company to buy milk directly from an additional 40,000 smallholder farmers across 1,000 new villages in Bihar and West Bengal over the next five years.

In India, dairy farming contributes to about a third of the gross income of rural households and the sector plays a vital role supporting economic growth and poverty alleviation for small scale farmers.

Environmental and social aspects

CDC worked with Lok to conduct an enhanced environmental and social (E&S) due diligence and agreed an extended environmental and social action plan (ESAP) for the smallholder-model dairy business in Jharkland. The key focal areas included Occupational Health and Safety, labour and food safety and in addition CDC/Lok worked on an enhanced approach to capturing evidence of impact.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Co-Investments Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2019
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$8m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
India

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