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Former InCred, Kotak execs’ new venture Saarathi Finance gets PE backing
VCCircle
·
4m ago
Medial
Saarathi Finance and Credit Pvt. Ltd, a non-banking finance company founded by former executives of InCred Group and Kotak Mahindra Bank, received its first round of institutional funding from a private equity firm. The Mumbai-based startup was established by former InCred CFO Vivek Bansal and an ex-Kotak Mahindra Bank executive. This funding marks a significant step in Saarathi's journey to build its financial services offerings.
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InCred CFO Vivek Bansal Quits To Float His Own NBFC Venture
Inc42
·
10m ago
Medial
Vivek Bansal, former group CFO of InCred, has resigned and is planning to launch his own NBFC venture called Saarathi Finance. Bansal is collaborating with Sunil Daga, president of Kotak Mahindra Bank, for this venture. Saarathi Finance is currently seeking approval from the RBI and is in discussions with investors to raise INR 600 crore at a potential valuation of INR 1,000 crore.
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Former Alibaba, 9Unicorns execs float VC fund
VCCircle
·
12m ago
Medial
Former Alibaba India investment head Raghav Bahl and former partner of venture capital firm 9Unicorns Soham Avlani have partnered to launch a new venture capital firm called Promaft Partners. The firm aims to invest in early-stage companies with a strong product-market fit.
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InCred’s maiden PE fund set to bet on logistics company
VCCircle
·
6m ago
Medial
InCred Alternative Investments, part of the financial services group InCred, is preparing to invest in a logistics and delivery startup through its inaugural private equity fund. This move follows two consumer-focused investments and backing of a company in the insurance sector. The firm aims to diversify its portfolio by tapping into the logistics domain, which is witnessing a surge due to the digital economy's growth. Details about the specific startup were not disclosed.
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InCred Financial Services Partners With Ola To Offer Personal Loans
Inc42
·
9m ago
Medial
Ola users can now apply for personal loans up to INR 10 Lakh through the Ola app, thanks to a new partnership with InCred. InCred is a fintech company operating in the banking, finance, and insurance sector. The company recently became a unicorn after raising $60 million in funding. It operates through three different entities: InCred Finance, InCred Capital, and InCred Money. This collaboration aims to provide convenient and easy access to personal loans for Ola users.
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Former banker Kampani ropes in ex-Aavishkar, Jubilant execs for VC fund
VCCircle
·
1y ago
Medial
Former banker Nimesh Kampani has enlisted executives from Aavishkaar Capital and Jubilant Bhartia Group as founding members of his new venture capital fund, which aims to invest in growth-stage startups. Kampani, who was previously the president of LetsVenture and is not affiliated with JM Financial, is focusing on impact investing with this new venture.
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InCred Alts secures $70-mn for maiden special situations fund
VCCircle
·
3m ago
Medial
InCred Alternative Investments Pvt Ltd has raised over Rs 600 crore ($70 million) for its first special situations fund, the InCred Special Opportunities Fund-I (ISOF-I). The fund, targeting old-economy sectors with strong collateral cover, aims to deliver high returns by exploiting dislocated secondary opportunities and flexible debt solutions. InCred Group's diverse financial services, including InCred Finance, Capital, and Money, support this venture, with a final fund close expected at Rs 1,000 crore and a greenshoe option of Rs 500 crore.
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Former Venture Garage, Cuemath execs float climate-focused VC fund
VCCircle
·
9m ago
Medial
Former partner of Venture Garage, Pawan Raj Kumar, and ex-VP of Cuemath, Aakash Kushwaha, have launched a new venture capital fund called ZeCa Ventures. The fund, based in Bengaluru, will focus on investing in startups and companies that are dedicated to reducing carbon footprint and addressing climate change. The aim is to support innovative solutions that contribute to a more sustainable future.
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Saudi VC firm RAED Ventures gets another LP for third fund
VCCircle
·
6m ago
Medial
Saudi venture capital firm RAED Ventures has gained a new limited partner for its third fund, with an investment commitment from Saudi Venture Capital (SVC). RAED Ventures supports early-stage startups and currently manages a portfolio of over 40 companies. The addition of SVC as a limited partner will provide further financial backing for the firm's investment activities.
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Former HSBC execs launch maiden venture debt fund
VCCircle
·
1y ago
Medial
Former executives from HSBC have launched venture debt firm VentureSoul Capital and announced the launch of their maiden fund. The firm aims to invest in companies in the new economy space across sectors. The fund, which has a target corpus of $71 million, will focus on investing in companies at the Series A or beyond stage with a proven revenue model. It has secured commitments from anchor investor Micro Labs and various individuals. The venture debt space in India has seen significant growth, with $1.2 billion raised from such deals in 2023.
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PE-backed Northern Arc Capital gets new equity investor ahead of IPO
VCCircle
·
1y ago
Medial
Non-banking finance company, Northern Arc Capital, has secured a new equity investor ahead of its upcoming IPO. The Chennai-based company, which already has notable shareholders such as LeapFrog and Accion, aims to bring in more institutional investors as it prepares to go public.
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