Mumbai, May 19 -- Global private equity firm Advent International will invest $150 million for a significant minority stake in Iscon Balaji Foods (IBF) Pvt Ltd, one of India's largest potato processors, the companies said in a statement on Tuesday.

The investment confirms Mint's March newsbreak and forms part of a larger $215 million round that also saw participation from 360 ONE.

Advent's capital will help accelerate IBF's next phase of growth across domestic and international markets, while strengthening its operating platform and product capabilities.

The deal underscores rising private equity appetite for India's fast-scaling frozen foods and quick-service restaurant (QSR) supply chain ecosystem. IBF operates in the $60 billion glo...