Source : PTI | The Poonawalla Vision Fund-1 (PVF1) and some family offices have invested ₹230 crore in Lohum Cleantech, wealth management firm Ambit Global Private Client said on Monday.
Lohum is one of the world’s largest sustainable critical minerals platforms outside China, and the investment comes at a time when there have been concerns about challenges in accessing such minerals.
The company is present in battery recycling, raw material recovery, and energy transition technologies and this places it at the center of rising demand for sustainable battery materials in India and abroad, as per an official statement.
PVF 1 is a ₹1,050 crore Category II AIF (alternative investment fund) managed by Ambit, with 12 investments to date, the statement said, adding that around 60 per cent of its capital has been deployed within three months of final close. It is currently tracking a ~40 per cent IRR (Internal Rate of Return).
The Poonawalla family-backed platform’s strategy involves taking bets on high-quality growth businesses benefiting from long-term structural trends, it said. It is currently tracking a ~40 per cent IRR (internal Rate of Return).
Ambit GPC’s chief executive Amrita Farmahan said it has deployed over ₹8,000 crore through 26 high-conviction private market investments, currently valued at ₹22,000 crore.
“The global transition towards clean energy is fundamentally reshaping demand for critical minerals and advanced materials. Our investment in Lohum reflects our conviction in businesses that are building strategic infrastructure for the future economy with the potential to create enduring long-term value for our investors,” Ambit GPC’s head of products and advisory Mahesh Kuppannagari said.
Lohum was founded in 2018 and positions itself at the intersection of the global energy transition and India’s China+1 opportunity. It is well placed to benefit from accelerating EV adoption and growing demand for resilient supply chains, while expanding into next-generation advanced materials, including platinum group metals, NMC Cathode Active Materials (CAM) and rare earth magnets, as per the statement.
