Future Consumer Enterprise Ltd., the food and consumer goods division of Kishore Biyani-led Future Group, has decided to raise $45 million from Black River Asset Management, the private equity arm of U.S. food and agriculture company Cargill through preferential allotment of compulsory convertible debentures. Additionally, it will raise nearly $10 million through a preferential allotment of warrants to promoters, reports VCCircle.  Black River invests predominantly in food businesses across emerging economies, and it said that the move would strengthen its food investment franchise in India

Future Consumer Enterprise Ltd., will use the funds for its expansion plans and strengthen its balance sheet by improving the maturity profile of existing debt. It will also tie up with Black River’s Food Fund 2 “to explore possible upstream capabilities in the food and allied sectors”.