PR96781

WASHINGTON, June 29, 2022 /PRNewswire=KYODO JBN/ --

WayCool marks the first transaction for 57 Stars Direct Impact Fund

57 Stars LLC, an independent global alternative investment firm targeting

high-growth sectors driven by technological innovation, is pleased to announce

it has led a USD 40 million investment in WayCool Foods & Products Private

Limited ("WayCool"), India's leading food and agri-tech platform. The

investment is the first transaction for 57 Stars Direct Impact Fund and the

second investment for 57 Stars Global Innovation Fund 2 ("GIF 2").

Photo - https://mma.prnewswire.com/media/1848560/57_Logo_Large_Logo.jpg

One of India's fastest-growing food and agri-tech companies, WayCool leads

India's food economy transformation by streamlining supply chains. WayCool

provides farmers with cohesive solutions, potentially increasing their income

by up to 30% while reducing food waste by up to 70%. Through strict ESG

management, WayCool seeks to become energy-, water-, and carbon-neutral,

further mitigating its environmental impact.

57 Stars' investment exemplifies the firm's commitment to sustainable

development and its dedicated impact investing strategy, which seeks to deliver

compelling financial returns alongside meaningful positive social and/or

environmental impacts.

"The Indian agricultural market's fragmented structure separates farmers from

end-markets through multiple intermediaries" said Amit Chandra, 57 Stars'

Managing Director, "WayCool delivers efficiencies for all stakeholders, from

soil to sale."

Chinna Pardhasaradhi, CFO, WayCool, said "We are happy to partner with 57 Stars

in the next phase of our journey. This investment illustrates the continuing

confidence of mature global investors in fundamentally sound businesses

delivering lasting impact."

WayCool Foods & Products

WayCool is one of India's leading food and agri-tech platforms. Focusing on

food development and distribution, the company leverages innovative technology

to scale and operate a complex supply chain from soil to sale. WayCool works

with more than 150,000 farmers, and operates a full stack, broadline product

range across multiple channels, serving over 100,000 clients.

57 Stars Direct Impact Fund

The Direct Impact Fund is 57 Stars' impact-focused co-investment vehicle

seeking compelling risk-adjusted returns and measurable impact outcomes.

Focusing particularly on environmental sustainability, healthcare, and

financial inclusion, the Direct Impact Fund leverages 57 Stars' global platform

to co-invest in tech-driven, high-growth businesses promoting environmental

sustainability and improving access to products and services for underserved

populations, in alignment with the Sustainable Development Goals.

57 Stars Global Innovation Fund 2

GIF 2 is 57 Stars' sixth-generation flagship investment vehicle. It is a

sector-focused, global, thematic fund committing to structured partnerships,

co-investments, and secondaries. Targeting high-growth sectors, GIF 2 seeks to

benefit from innovation in tech-enabled consumer and enterprise solutions,

health and care-related technologies, environmental sustainability, and fintech

/ financial services.

57 Stars LLC

57 Stars is an independent global alternative investment manager with more than

USD 4.5 billion in commitments raised and managed, and a presence in six cities

globally. Founded in 2005, the firm seeks to generate superior risk-adjusted

returns by investing in high-growth sectors of the global economy driven by

secular tailwinds, disruptive forces, and technological innovation.

Contact:

Kyoko Terada

+1-202-629-5852

media@57stars.com

Full press release:

https://www.57stars.com/wp-content/uploads/2022/06/WayCool_Announcement.pdf

SOURCE  57 Stars