New Delhi, May 18, 2017: TPG’s global impact fund, the Rise Fund, will invest about ₹325 crore ($50 million) in Dodla Dairy Ltd, a fresh dairy product company offering a range of milk products throughout south India. This will be the Rise Fund’s first in the food and agriculture as well as its first in India.
Dodla Dairy will use it to expand operations. Founded in 1995, Dodla Dairy procures and processes fresh milk to sell dairy products across 66 regions in south India. In addition to fresh packaged liquid milk, Dodla sells curd, butter and ghee. It works with over 3,000 distributors in nine States and the products are sold by more than 50,000 retail outlets. Dodla sources milk from over 2.5 lakh farmers in 7,000 villages every day. The Rise Fund seeks to help Dodla in operating its procurement network fairly, transparently and efficiently. Dodla works with regional banks to help over 2,300 farmers secure financing to invest in their production capabilities.
The Hindu Business Line
