Aavishkaar, a social venture capital firm investor marks its first foray into Sri Lanka with an investment of 300 million Sri Lankan Rupee (LKR) in MA’s Foods. The South and South-east Asia-focused Aavishkaar Frontier Fund has agreed to invest 300 million LKR (about Rs 13.80 crore) in Sri Lanka’s premium food processing firm MA’s Foods, the company said.

This investment will enable MA’s Foods to accelerate its new phase of growth, expand into the North of Sri Lanka and meet its strategic plan objectives. MA’s Foods was founded in 1986 by husband and wife team of Mario and Suzette De Alwis and the company is the manufacturer of some of Sri Lanka’s most popular brands in the food processing sector including MA’s Kitchen, Happy Home, Dad’s Garden and Pasta Roma.

MA’s Foods markets a large portfolio of organic, fair-trade and conventional gourmet meal solutions including spices, seasonings, curry pastes, sauces, ready-to-eat foods and coconut based products. A family owned company, MA’s Foods has matured from an ingredient supplier to a diverse food solutions provider with the inclusion of seasoned industry professionals complimenting the family management team.

“The Sri Lankan company has tremendous potential to scale up its business with its combination of an excellent management team, established local brands, long-standing international relationships and significant backward linkages while staying true to its commitment to sustainability and fair trade,” Aavishkaar Partner Sanchayan Chakraborty said.

“It is fantastic motivation and a privilege to work with Aavishkaar Frontier Fund. In the coming months, we will continue with our vision of being an inseparable part of every kitchen while crafting tasteful moments for desiring families around the world with much more vigour,” MA’s Foods CEO Maliek De Alwis added.