Mumbai, January 16, 2026: 360 ONE Asset, a wholly-owned subsidiary of 360 ONE WAM and one of India’s leading alternative asset managers, will invest approximately US$70 million in Iscon Balaji Foods Limited (IBF) — India’s largest potato processor and exporter of value-added potato products.

This transaction represents 360 ONE Asset’s largest investment in the consumer sector and marks a defining milestone in its dedicated Consumer strategy, underscoring the firm’s conviction in building scaled, consumption platforms of global relevance in India.

Tarun Sharma, Senior Fund Manager and Strategy Head, Consumer & Healthcare, 360 ONE Asset, said, “Iscon Balaji Foods is a unique platform—combining high growth, attractive margins and a large global market opportunity. Neel Kotak has built a globally competitive business with strong structural moats and a proven management team sharply focused on execution. This investment embodies our Consumer strategy of backing scaled leaders in their categories, driven by exceptional founders.”

Neel Kotak, Managing Director & CEO, Iscon Balaji Foods, said, “Over the last decade, we have focused on building a globally competitive, integrated food platform from India. As we enter the next phase of our journey — expanding capacity, product innovation, and international presence — 360 ONE Asset brings long-term capital and institutional partnership that aligns strongly with our vision. We look forward to working closely together as we continue to scale IBF into a leading global food processing company.”

Founded in 2013, IBF operates a fully integrated, export-oriented platform spanning seed development, farmer partnerships, large-scale processing, and global distribution. The company was backed by the JP Iscon family and the Balaji Wafers family in its early years, helping kickstart operations and scale its integrated model. Over the past decade, the company has grown into one of the world’s top 10 frozen potato processors, supplying leading QSR and foodservice customers across India, Southeast Asia, the Middle East, and the Far East.

Today, IBF partners with more than 10,000 farmers through its contract farming and proprietary seed development programme, enabling consistent quality, traceability, and higher farm-level productivity. With this investment, IBF plans to expand this network to over 25,000 farmers over the next three years, strengthening rural incomes while creating one of the most resilient and scalable supply chains in the global food industry.

The investment will support IBF’s next phase of growth, including significant capacity expansion, deepening of farmer-linked supply chains, upgrading processing and cold-chain infrastructure, launch of new value-added product lines, and expansion into additional international markets.

IBF operates in the US$60 billion global frozen potato products market, where it benefits from India’s agronomic advantages, cost leadership and proprietary strengths in seeds, R&D and long-term customer relationships — positioning the company to become a globally scaled food processing platform.

Avendus Capital acted as the exclusive financial advisor to Iscon Balaji Foods on the transaction.

About 360 ONE Asset

360 ONE Asset manages an overall listed market and alternates AUM of around $11 billion* across multiple asset classes. It is one of India's largest alternative asset managers, with private market AUM of around $6 billion. 360 ONE Asset's premier venture capital and private equity platform has an AUM of $3.4 billion, 99 portfolio companies and a seasoned investment team in Mumbai and Bangalore.

360 ONE Asset’s dedicated Consumer strategy focuses on partnering with category leaders and high-quality challengers across consumer sub-segments, aiming to be the partner of choice for India’s most ambitious founders.

The platform spans the entire company life cycle, from Idea to IPO, offering investment solutions across Venture Capital, Growth Equity, Late-Stage PE and pre-IPO, Secondaries and Fund-of-Funds. The platform also has deep domain expertise in technology, consumer, healthcare, financial services and industrials/manufacturing coupled with a deep understanding of Indian capital markets. It has a 10-year track record of successfully partnering with founders and of innovation, consistently bringing new offerings to the Indian market.

360 ONE Asset was recently awarded ‘Best Private Equity House’ at the Global Private Banking Innovation Awards 2025. It also won ‘Best Private Equity House’ at the Finance Asia Achievement Awards in 2023 (Winner) and 2024 (Highly Commended).

More information is available at: https://www.360.one/asset

*As on 31st Dec 2025. Funds managed by 360 ONE Asset Management Ltd. and 360 ONE Alternates Asset Management Ltd.