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Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital

Inc42 · 1y ago

Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital

BlueStone, an omnichannel jewelry startup, is raising $9 million in debt from venture capital firm Trifecta Capital. The funding will be used for business operations and expansion plans. BlueStone aims to go public and raise approximately INR 2,000 crore through its initial public offering (IPO). The startup offers over 8,000 jewelry designs and competes with CaratLane, Melorra, and GIVA in the market. Its net loss, excluding one-time expenses, increased by 183% to INR 167 crore in FY23, while operating revenue rose by 67% to INR 771 crore.

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BlueStone To Raise $16.5 Mn From Innoven Capital, Others

Inc42 · 1y ago

BlueStone To Raise $16.5 Mn From Innoven Capital, Others

Omnichannel jewelry startup BlueStone is seeking to raise about $16.5 million in a combination of debt and equity funding. The debt portion, estimated at around $12 million, will be raised from Innoven Capital, while the equity portion of about $4.5 million will come from investors like Ashwin Kedia and Sankar Bora. BlueStone plans to use the funds to support its operations and expansion plans. This follows the recent debt funding of $9 million that the startup received from Trifecta Capital. BlueStone is also reportedly considering a public listing and aims to raise about $265 million through its proposed IPO.

Exclusive: Logistics & Distribution Startup Ripplr To Raise $4.7 Mn Debt From Northern Arc

Inc42 · 1y ago

Exclusive: Logistics & Distribution Startup Ripplr To Raise $4.7 Mn Debt From Northern Arc

Bengaluru-based startup Ripplr is raising INR 40 Cr ($4.7 Mn) in debt from IPO-bound Northern Arc. This comes after the company raised INR 6 Cr in debt from venture debt firm Trifecta Capital last month. The funding round is expected to consist of 400 non-convertible debentures (NCDs). Ripplr previously raised $40 Mn in a Series B funding round in May 2020.

Exclusive: MediBuddy To Raise $8.4 Mn Debt Funding To Fuel Expansion Plans

Inc42 · 1y ago

Exclusive: MediBuddy To Raise $8.4 Mn Debt Funding To Fuel Expansion Plans

MediBuddy, a healthcare startup, is planning to raise fresh debt from existing investors such as Innoven Capital and Atleria Capital. The company intends to acquire businesses in sectors such as women's health, mental health, diabetes, and chronic disease management. This latest investment will bring the startup's total debt and equity funding to approximately $218 million.

Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen

Entrackr

Entrackr · 1y ago

Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen

Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. This is the second debt infusion in the Peak XV and Coatue-backed company in 2024. The board at BharatPe has issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise Rs 85 crore, its regulatory filing with the Registrar of Companies shows. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing. As per Entrackr’s sources, BharatPe completed its $100 million debt round early this year. InnoVen Capital was expected to pump in $60-70 million in BharatPe whereas Credit Saison invested the remaining capital in the Delhi-based company’s NBFC arm Trillion Loans. Debt from Innoven could be a part of the above amount. We have reached out to BharatPe to confirm if their investment is new or existing. Sources close to the fintech firm added that BharatPe chose debt as it is close to break-even and didn’t want to dilute equity. BharatPe raised its last equity round in August 2021 when it also checked into the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. According to TheArch report, BharatPe’s operating revenue increased by 16%, reaching Rs 1,370 crore in FY24, up from Rs 1,029 crore in FY23. The six-year-old company also reported a 70% reduction in losses, bringing them down to Rs 270 crore in the last fiscal year.

Exclusive: Construction Unicorn Infra.Market Looks To Raise $60 Mn Debt

Inc42 · 1y ago

Exclusive: Construction Unicorn Infra.Market Looks To Raise $60 Mn Debt

Mumbai-based construction startup Infra.Market plans to raise around $60 million (INR 500 crore) in debt over the next two months. The company aims to secure working capital ahead of this year. This announcement follows Infra.Market's recent debt funding of $12 million from SK Finance and Kairus Dadachanji. In FY23, the startup achieved sales of INR 11,846.5 crore, a 90% increase from the previous year, but saw a 17% drop in net profit to INR 155.2 crore. With a valuation of $2.5 billion, Infra.Market has raised over $600 million in funding so far.

Stride Ventures targets $300 mn for fourth fund

VCCircle

VCCircle · 8m ago

Stride Ventures targets $300 mn for fourth fund

Venture debt firm Stride Ventures has launched its fourth fund, aiming to raise $300 million. The fund will provide tailored financial solutions to startups and businesses across various sectors and geographies. Stride Ventures has previously backed companies such as BlueStone, Upstox, and Pharmeasy, among others. The firm had initially targeted $200 million for its previous fund but ended up closing with a lower corpus of $165 million. Stride Ventures has also surpassed $1 billion in venture debt commitments and returned capital from its first fund with the best-performing returns to investors.

Trifecta Capital raises 3rd venture debt fund

Livemint

Livemint · 1y ago

Trifecta Capital raises 3rd venture debt fund

Trifecta Capital has successfully closed its third debt fund at ₹1,777 crore ($213 million), surpassing its initial target of ₹1,500 crore. The fund attracted investments from global financial institutions, domestic conglomerates, banks, insurers, and family offices. The firm has doubled its count of offshore investors and has already allocated ₹1,500 crore ($180 million) across 51 companies. Trifecta Capital plans to raise its fourth fund in 2024 and also intends to raise its second growth equity fund next year, as per co-founder Rahul Khanna.

Trifecta Capital names new partner to beef up venture debt vertical

VCCircle

VCCircle · 6m ago

Trifecta Capital names new partner to beef up venture debt vertical

Alternative financing platform Trifecta Capital has promoted an executive to a partner role to strengthen its venture debt vertical. The company, known for its investment in startups through debt and its operation of an equity fund, recently marked the first close of its fourth debt fund. Trifecta is aiming to raise up to Rs 2,000 crore for its new fund, showcasing its commitment to expanding its footprint in the startup financing ecosystem.

Trifecta Capital marks first close of fourth venture debt fund

VCCircle

VCCircle · 6m ago

Trifecta Capital marks first close of fourth venture debt fund

Trifecta Capital has achieved the first close of its fourth venture debt fund, targeting a total raise of Rs 2,000 crore (approximately $231 million), including a greenshoe option of Rs 500 crore. Based in Gurugram, Trifecta offers venture debt to startups and continues to expand its financial resources to support entrepreneurial growth. This development underscores its ongoing commitment to fuel the startup ecosystem through substantial financing endeavors.

Exclusive: Education finance firm Auxilo raises $12 Mn more in debt

Entrackr

Entrackr · 1y ago

Exclusive: Education finance firm Auxilo raises $12 Mn more in debt

Education-focused non-banking financial corporation (NBFC) Auxilo has secured Rs 100 crore (approximately $12 million) in a debt financing round. The board at Auxilo has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each to raise Rs 100 crore ($12 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. Dezerv Securities pumped in Rs 26.39 crore while MAS Financial Services and CredAvenue Securities (Yubi) participated with Rs 25 crore each. The balance amount will be released by the investors soon. The NCDs issued to MAS Financial and CredAvenue (Yubi) have a tenure of 36 months with an interest rate of 9.65%, while the debentures issued to Dezerv have a tenure of 29 months with an annual coupon rate of 9.90%. The development coincides with Auxilo’s $33.6 million round led by private equity firm LeapFrog Investments. As per Auxilo, LeapFrog invested $30 million while Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II pumped in the remaining capital. The current debt funding appears to be separate from the recent announcement. Auxilo has raised around $145 million across equity and debt since its inception including a $57 million funding round led by Tata Capital Growth in July last year. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. Since its inception, Auxilo claims to have provided education loans to over 12,000 students, across more than 1,100 universities and education institutes in over 30 countries. In the next 5 years, it aims to disburse Rs 25,000 crore worth loan to more than 150,000 students in India and overseas. The New Delhi-based company demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in FY23. Moreover, its profits doubled to Rs 26 crore in FY23. The company is yet to file its annual results for FY24.

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