India, May 28 -- The International Finance Corporation (IFC), the private investment arm of the World Bank, has proposed a $30 Mn infusion in India-focussed consumer fund launched by L Catterton Asia and former Hindustan Unilever Ltd (HUL) executive Sanjiv Mehta.

The duo formed the investment vehicle named L Catterton India Fund (Fund I or the Fund) last year.

In its disclosure, IFC also proposed a co-investment envelope of up to $30 Mn under delegated authority in the L Catterton India Fund.

The Fund is targeting total commitments of up to $600 Mn, with L Catterton's commitment capped at 19.9% of the total.

It is expected to invest in 7-9 companies, with average ticket sizes ranging from $25 Mn to150 Mn per company.

"The Fund is see...