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Ex-L Catterton Asia Chief’s $500 Million Fund Wins Saudi Backing

Ravi Thakran

Ravi Thakran

Source: Sky Lip/South China Morning Post/Getty Images

Turmeric Capital, an investment firm led by former L Catterton Asia head Ravi Thakran, has secured backing from Saudi Arabia for a $500 million private equity fund, according to people familiar with the matter.

Jada, which was given $1 billion by Saudi Arabia’s wealth fund to seed venture and private equity firms investing in the country, will commit about $100 million, the people said, asking not to be identified as the information is private.