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Highlights:
- The interest in L Catterton's IPO plans could be due to a startup's funding round called Wildtype.
- Wildtype raised US$ 100 million in a Series B funding round led by L Catterton, and it includes investments from Bezos Expeditions.
- Catterton Partners is a private equity firm and has over US$ 30 billion of equity capital spread across the world.
Amid a shaky stock market across the world, it appears that potential investors are looking up for initial public offering (IPO) plans of Catterton Partners (L Catterton).
The interest in L Catterton's IPO plans could be due to a startup's funding round called Wildtype, which makes sushi-grade cultivated salmon.
Wildtype raised US$ 100 million in a Series B funding round led by L Catterton, and it includes investments from Bezos Expeditions, S2G Ventures and Leonardo DiCaprio, among others.
The startup was established in 2016, and since then, Wildtype has raised over US$ 120 million.
L Catterton going public?
The company has not given any update about its public debut plans. However, some reports suggest that L Catterton could be mulling an IPO and is in touch with Morgan Stanley and Goldman Sachs to go public.
The IPO market appears to be going through tough times as markets have remained volatile since the beginning of this year.
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Earlier, investors were sceptical due to fears of interest rates hikes from the federal reserve, and now the ongoing crisis between Ukraine and Russia could further affect the market.
On February 24, Russia announced initiating military action against Ukraine as their relations kept worsening over the past few weeks.
L Catterton IPO could be on the cards. However, it could happen when the volatility subsides. Last year too, some reports had indicated that the company was exploring a possible IPO.
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The company is reportedly backed by Bernard Arnault, a French billionaire who is the chairman and chief executive officer (CEO) of the luxury goods empire Louis Vuitton Moet Hennessy.
Bottom line
Catterton Partners is a private equity firm and has over US$ 30 billion of equity capital spread across the world. Since 1989, the company has invested in at least 250 consumer businesses and has a team of about 200 investment and operating professionals worldwide.
In February, the company reportedly invested in Enova Pet Products, a Shanghai-based company. Enova is the owner of Pure & Natural, a pet food brand.
China's pet food industry appears to have registered strong growth in the last five years, and L Catterton could be eyeing this industry to capitalize on the growth trend.
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