Sumitomo Mitsui Trust Bank Invests in One Planet Partners to Back First Private Equity Fund

Japanese institutional investor Sumitomo Mitsui Trust Bank has picked up a minority stake in Indian asset management company One Planet Partners (OPP). The strategic investment is tied to the launch of OPP's first private equity fund, which will focus on energy transition, manufacturing, and mobility sectors.

As part of the partnership, the initiative targets deploying over ₹3,000 crore, with plans for a first close by 2027. Additionally, Sumitomo Mitsui Trust Bank has decided to establish a separately managed account (SMA). According to the institutional statement, this SMA is designed to expand investments in growth companies and strengthen participation in the energy and manufacturing sectors.

Detailing the investment strategy, OPP stated that the fund will focus on high-growth mid-market businesses. It aims to provide scale-up capital ranging between ₹100 crore and ₹500 crore to enterprises demonstrating attractive unit economics and annual revenues between ₹200 crore and ₹2,000 crore.

Kazuya Yoneda, General Manager at the Equity Investment Department of Sumitomo Mitsui Trust Bank, commented on the development, stating that the strategic investment reflects confidence in the market, OPP's institutional approach, and its track record in India's private markets. He added that the bank looks forward to building a long-term partnership across asset classes.

Prior to this fund launch, One Planet Partners deployed $93 million in the Series C funding round of Bengaluru-based electric mobility company Yulu Bikes Private Ltd, marking the initial investment by the platform.

"This partnership between Sumitomo Mitsui Trust Bank and One Planet Partners highlights the growing global institutional interest in India's mid-market growth companies. Targeting sectors like energy transition, manufacturing, and mobility with a ₹3,000 crore deployment plan indicates a disciplined, long-term approach to scaling sustainable businesses. For mid-market enterprises with strong unit economics, this creates a valuable channel for substantial growth capital." — Dr. Shishir Gupta, Founder & CEO, StartupLanes