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Siddharth Lal

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At a glance

Full Name
Siddharth Lal
Firm
Rabo Equity Advisors
Firm Type
Private equity / investment advisory
Investment Stage
Growth equity / expansion capital
Check Size
Typically $5 million to $30 million through India Agri Business Fund II; Rabo has also described typical deals as $10 million to $20 million for 15% to 40% minority stakes.
Target Company Profile
Revenue-generating, cash-flow-positive, medium-sized Indian food and agribusiness companies with strong growth prospects.
Sector Focus
Food and agribusiness, including agricultural inputs, primary processing, food processing, cold chain, warehousing, agri-infrastructure, rural retail, dairy, packaged foods, frozen foods, organic foods, nutraceuticals, and healthy snacking.
Geographic Focus
India
Location
Gurugram, Haryana, India / New Delhi Area, India

Background

Siddharth Lal is publicly listed on LinkedIn as being with Rabo Equity Advisors in the New Delhi area and based in Gurugram, Haryana, India. His LinkedIn profile also lists Indian School of Business as part of his education, with attendance shown for 2002-2003.

Rabo Equity Advisors is an India-based private equity adviser associated with the India Agri Business Fund platform. Asian Development Bank materials describe Rabo Equity Advisors Private Limited as the Indian adviser to India Agri Business Fund II, providing information and investment advice to the fund manager and investment committee. The same materials describe the adviser as having domain expertise in private equity advisory and Indian agribusiness.

Corporate-registry aggregators link DIN 03312590 for Siddharth Lal to director or nominee-director roles across several companies connected with Rabo’s food and agribusiness investing activity, including ADM Agro Industries Kota & Akola, Vacmet India, Global Gourmet, Naturell (India), and financial/advisory entities including Rabo India Finance, Ferns Equity Advisors, Prowess Advisors, AFIF Fund Advisory, and Centrum Wealth. These filings suggest his work has included board-level involvement in portfolio or related investment entities, although a current formal title at Rabo Equity Advisors could not be independently verified from a primary source.

Investment Thesis & Focus

  • Rabo Equity Advisors focuses on food and agribusiness rather than broad seed-stage venture capital. ADB describes India Agri Business Fund II as investing in companies with operations “focused primarily on the Indian agri-business sectors,” especially agricultural inputs, primary processing, and agricultural infrastructure.
  • The fund targets operating companies, not concept-stage startups: ADB specifies “revenue-generating, cash flow positive” medium-scaled enterprises with strong growth prospects.
  • British International Investment describes India Agri Business Fund II as backing growing agribusinesses across infrastructure, food processing, rural retail, and cold chain storage and distribution, with a stated focus on food processing.
  • Rabo’s typical investing style is significant minority ownership. Financial Express reported Rabo’s stated typical investment range as $10 million to $20 million for roughly 15% to 40% stakes, with an approximately five-year holding period.
  • Sector priorities include enabling infrastructure on the agri side and higher-value processing on the food side. Rabo Equity chairman Rajesh Srivastava told Financial Express that Rabo wanted to pursue “enabling” agribusiness sectors such as storage, logistics, and markets, while continuing to focus on high-value processing areas where India can be globally competitive, such as organic and nutraceuticals.
  • This profile contradicts the stub classification of “Angel Investors” and “Seed Round”; the strongest public evidence points to Rabo Equity Advisors as a private-equity adviser focused on growth-stage food and agribusiness companies.

Notable Investments

  • Naturell (India) / RiteBite Max Protein: India Agri Business Fund II invested in the healthy-snacking company in 2018; in 2024, IABF II sold a roughly 38.7% stake to Zydus Wellness as part of Zydus’s acquisition of Naturell.
  • Nature Bio Foods: LT Foods’ organic-food subsidiary raised ₹140 crore from Rabo Equity Advisors in 2018; the company produces organic rice, grains, oils, nuts, sweeteners, and spices.
  • Global Gourmet: India Agri Business Fund II invested $10 million in the frozen-food exporter in 2018 for a minority stake.
  • Cremica Food Industries: Rabo Equity invested $15 million in 2016 for a minority stake in the Ludhiana-based food-products company.
  • Parijat Industries: India Agri Business Fund II and REAL Trust II invested in the agrochemical and crop-protection company in 2016.
  • Olive Bar & Kitchen: Rabo Equity invested in the restaurant group in 2017; later reporting described the deal as about 40% for ₹100 crore.
  • Vacmet India: India Agri Business Fund acquired a significant minority stake in the food-packaging materials company in 2010.
  • Prabhat Dairy: Listed by Economic Times as one of Rabo Equity’s key India Agri Business Fund investments.
  • Daawat Food / LT Foods: Rabo Equity invested $10 million in LT Foods in 2009, and later backed Nature Bio Foods, an LT Foods subsidiary.
  • Sri Biotech Laboratories: Listed by Business Standard and Economic Times as an India Agri Business Fund I investment in organic agricultural products.
  • National Collateral Management Services Ltd.: Listed by Economic Times as an India Agri Business Fund I investment.

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