Reckitt’s former CEO Rakesh Kapoor forms 12 Flags Consumer Fund

Former chief executive officer of Reckitt Benckiser Rakesh Kapoor has established an Rs 830 crore fund - 12 Flags India Consumer Fund. The fund, which will focus on sectors like consumer health, wellness, pet and companion animal, nutrition and restaurants, will invest in consumer focused business over the next three years. The former CEO of Reckitt initially plans to invest in the first 10-15 businesses and provide long term capital.

Kapoor started his career with the maker of Durex and Dettol, Reckitt Benckiser, in 1987. At present, he is the non-executive director of NHS England (National Health Service). At the time of his retirement from Reckitt, Kapoor was one of the FTSE 100's best-paid chief executives. Of the 32 years he spent at the company, he was in charge for eight. Kapoor was hailed for a 90 per cent surge in shares during his time at the top and for masterminding a major overhaul of the business.