Uday Kotak's Family Office Expands Global Reach, Buys US Snack Brand
Overview
Uday Kotak's family office, USK Capital, has acquired a majority stake in Go Raw, a Chicago-based seed-centric snack brand. This marks the firm's first international investment and a significant debut into the consumer sector, driven by the growing global demand for healthy food options.
Kotak Family Office Enters US Consumer Market
USK Capital, the family office of Kotak Mahindra Bank founder Uday Kotak, has made its first international investment by acquiring a majority stake in Go Raw, a Chicago-based snack brand. This move signifies a significant entry into the United States consumer sector for the Kotak family.
The investment was made through one of USK Capital's overseas entities, utilizing the overseas direct investment route. The stake was purchased from Juggernaut Capital Partners and other early-stage investors in Go Raw's holding company, Freeland Foods. Specific details regarding the stake percentage and the financial consideration were not disclosed.
Strategic Rationale
USK Capital cited the increasing global demand for healthy eating as a primary driver for the acquisition. Venkat Subramanian, Chief Investment Officer at USK Capital, highlighted Go Raw's established track record of strong growth and its expanding retail presence within the U.S. market. This acquisition aligns with the growing consumer preference for healthier food alternatives.
USK Capital was established in 2023 by Uday Kotak following his departure as CEO of Kotak Mahindra Bank. The Kotak family maintains a substantial ownership in Kotak Mahindra Bank, which stands as India's third-largest private sector lender with an approximate market capitalization of $47 billion.
