Springforth Investment Managers (SIM) has acquired a minority stake in nutrifood maker Inner Being Wellness for an undisclosed amount.

The Hyderabad-based company markets its products under the brand Inner Being. SIM is an early stage accelerator and investment management firm launched by mid-market focussed investment banking firm Springforth Capital Advisors.

According to Kalyan Vijay Sivalenka, Founder and Managing Director of Springforth Capital, the investment into the health food and nutrition segment widens their portfolio. As part of the transaction, Pradeep Dhobale, operating partner and director at SIM and former executive director at ITC, will join Inner Being as director.

Inner Being, launched in 2012 by Pavan Raj Kanungo and headed by CS Jadhav, operates in wellness, nutricare, and nutrifood categories through an omni channel model. The company is supplying products to retail outlets and has started exports.

SIM engages in two different models. “One, we will take direct positions in companies that need mentoring, domain expertise and funding support. Two, we will help investors already invested in these sectors manage their positions through our operating team,” Sivalenka says.

Agri fund

SIM is also set to launch a ₹100-crore fund that will invest in early stage companies in the agriculture, food and logistics companies.

To be named Springforth Agri Food and Logistics (SAFAL), it will help these firms to reach the Series A funding stage.

Richard B Saldanha, former Vice-Chairman, Blackstone India and former Chairman Unilever, Peru is the Chairman of SIM.

Its board will include M Maheen Kannu, founder & director of Springforth Capital and a logistics veteran with over three decades’ experience, and Joseph Cherian, former CEO of Papa Johns India.

The current portfolio of SIM includes Return Trucks, Last Mile Delivery, Tummykart and Renowala. Hyderabad-based ICS has recently acquired majority stake in Renowala.

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