# Mandala Capital

Mandala Capital is a Private Equity based in Trianon, Singapore.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Trianon, Singapore
- **Region:** Asia
- **Address:** Singapore
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** www.mandala-capital.com
- **LinkedIn:** https://www.linkedin.com/company/mandala-capital

## Regulatory record

- **CRD number:** 281444
- **SEC file number:** 802-107365
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/281444

## About

Mandala Capital is an exempt reporting adviser in Trianon, established in 2016.

## Sectors

- AgriTech & FoodTech
- Energy Transition & Renewables

## People

- Uday Garg — Managing Partner

## Questions

### Who runs investment decisions at Mandala Capital?

Uday Garg, the firm's founder and Managing Partner, chairs the investment committee and is the primary decision-maker on platform strategy and deal approvals. Garg's background spans senior roles at the IFC and EMP Global, where he focused on emerging-market private equity before launching Mandala in 2008. The firm maintains a lean senior team that reports directly into Garg's committee structure.

### What investment stages does Mandala Capital target?

Mandala pursues growth-equity and buyout-stage investments in established agribusiness platforms that generate operating cash flow. It avoids early-stage venture risk in favor of companies with proven unit economics that require capital and operational expertise to consolidate fragmented markets. Typical investments target enterprises with existing revenue bases in the $10 million to $50 million range, though the firm has structured deals both below and above that band.

### Is Mandala Capital a venture capital firm or a private equity manager?

Mandala operates as a private equity manager with a control-oriented, operations-heavy approach. It does not make passive minority investments or traditional venture-capital bets on pre-revenue startups. The firm installs industry operators into portfolio companies and pursues buy-and-build consolidation strategies, which distinguishes it from the many venture funds that have attempted agtech investing in the region.

### Which geographies does Mandala Capital invest in?

India represents Mandala's primary investment geography, accounting for the majority of its deployed capital across protein, dairy, and staple-crop value chains. The firm also evaluates opportunities in Southeast Asian markets, particularly Vietnam and Indonesia, where similar agricultural fragmentation and supply-chain inefficiencies exist. Mandala invests only in South and Southeast Asia, avoiding other emerging-market food systems.

### What is Mandala Capital's known posture on co-investments alongside external GPs?

Mandala has historically co-invested alongside development finance institutions and European family offices that share its sector thesis and long-duration holding periods. The firm does not operate a broad syndicate model or regularly partner with generalist emerging-market funds. Its co-investment relationships tend to be bilateral and built around specific platform opportunities rather than formal club structures.

## Related profiles

- [Mancora Ventures](https://altss.com/profile/mancora-ventures)
- [Mandala Space Ventures](https://altss.com/profile/mandala-space-ventures)

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Last updated: 2026-08-14T12:30:00.000Z

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