The Rs. 800-crore Keventer Agro Ltd. (KAL), the flagship enterprise of the Rs. 1,800 crore Keventer Group has raised capital worth $25 million (approximately Rs. 170 crore) from Mandala Capital, a private equity (PE) firm with primary investment interests in the food and agri-business sectors in India. KAL will utilise the capital raised for its future expansion plans, which will help fuel its growth story further. Mahendra Kumar Jalan, founder, KAL would continue to guide the management and provide strategic inputs as its chairman emeritus. “We have charted out a robust growth plan for each of our businesses, be it dairy, bananas or frozen foods,” Mayank Jalan said. “With this fresh infusion of capital, we intend to invest about $100 million into our dairy business in West Bengal and grow our food processing business exponentially – all towards our endeavour of turning into a $500 million company by the year 2022,” said Mayank Jalan. Mandala Capital currently holds a portfolio which includes organisations across the spectrum of food-related businesses, such as seeds, biotechnology, sugar, biochemicals, irrigation, food processing, solar energy, agro-financing, logistics and cold chain, dairy, beverages and fresh produce.