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Prabhudas Lilladher rolls out maiden private credit fund, sets sight on first close

VCCircle

VCCircle · 2m ago

Prabhudas Lilladher rolls out maiden private credit fund, sets sight on first close

Prabhudas Lilladher’s asset management arm, PL Capital, has launched its first private credit fund, aiming for an initial close within a couple of months. The PL Capital Performing Credit Fund targets a corpus of Rs 500 crore, with a greenshoe option of an additional equal amount. Registered with SEBI as a Category-II alternative investment fund, it focuses on secured debt investments across sectors, excluding real estate, appealing to high-net-worth individuals and institutional investors seeking diversification and risk-adjusted returns.

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True North raises ₹1,000 crore towards maiden credit fund

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Livemint · 1y ago

True North raises ₹1,000 crore towards maiden credit fund

Homegrown private equity firm True North has raised ₹1,000 crore for its first credit fund, targeting a 15-18% internal rate of return. The capital was raised from Indian ultra-high net worth individuals and family offices. The firm plans to deploy the capital over the next five years and expects to close the fund at around ₹1,300-1,400 crore by December. True North has previously focused on private equity investments and sees private credit as a natural extension. The credit fund aims to bridge supply-demand gaps for middle-market companies, providing capital solutions for shorter tenures.

True North wraps up fundraising for maiden private credit vehicle

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VCCircle · 1y ago

True North wraps up fundraising for maiden private credit vehicle

True North has successfully completed fundraising for its first private credit fund after almost three years in the asset class. The private equity firm's inaugural private credit vehicle, which focuses on performing credit financing, reached its first fundraising milestone in November of last year.

VentureSoul Partners sets timelines for maiden debt fund

VCCircle

VCCircle · 2m ago

VentureSoul Partners sets timelines for maiden debt fund

VentureSoul Partners, a Mumbai-based venture debt firm, is planning to complete its fundraising exercise for its first debt fund, having already supported six companies. Launched in June 2024, the fund has been progressing post-marking its first close last year. This strategic move underscores VentureSoul's commitment to expanding its investment portfolio and reinforces its position in the venture debt industry, focusing on providing crucial financial support to growing businesses.

InCred Alternative Hits First Close Of Maiden PE Fund

Inc42 · 1y ago

InCred Alternative Hits First Close Of Maiden PE Fund

InCred Alternative Investments, the alternative asset management unit of InCred Capital, has announced the first close of its maiden private equity fund, InCred Growth Partners Fund – I (IGPF – I). The fund has gathered capital commitments of over INR 330 Cr and aims to reach a final close at INR 500 Cr. IGPF – I will focus on investing in growth and late-stage companies in consumer, financial services, and enterprise or technology sectors, with an average ticket size of INR 40-80 Cr. The successful first close reflects the returning confidence in the private equity space.

Sundaram Alternates sets sight on latest credit vehicle’s first funding milestone

VCCircle

VCCircle · 9m ago

Sundaram Alternates sets sight on latest credit vehicle’s first funding milestone

Sundaram Alternates, the asset management arm of Sundaram Finance, is reaching its first funding milestone for its latest credit vehicle, the Performing Credit Opportunities Fund – Series I (PCOF). The Chennai-based investor is set to mark the first close of the fund soon, according to Karthik Athreya, Director and Head of Strategy for Alternative Credit at Sundaram Alternates. The PCOF, which was launched earlier this month, is the second corporate credit fund introduced by Sundaram Alternates.

Arka Investment Advisory makes final closing of maiden fund

YourStory

YourStory · 11m ago

Arka Investment Advisory makes final closing of maiden fund

Investment manager Arka Investment Advisory Services has closed its Arka Credit Fund I, the company's first credit fund. Arka Credit Fund I is a sector agnostic, diversified credit fund that offers structured solutions to mid-market corporates. The fund has made investments in industries such as transportation, real estate, financial services, steel manufacturing, and waste management. Arka Investment Advisory plans to expand its private credit offerings in the future. The company is supported by Arka Financial Holdings and is a subsidiary of Arka Fincap Limited.

AstroTalk backer Elev8 Venture Partners sets timeline for final close of maiden fund

VCCircle

VCCircle · 1y ago

AstroTalk backer Elev8 Venture Partners sets timeline for final close of maiden fund

Elev8 Venture Partners, the venture capital firm raising $200 million for its first fund, has announced a timeline for the final close of the fund. The firm, founded by a former Kae Capital partner, aims to raise Rs 834.4 crore for its maiden fund. Elev8 has South Korea's financial services firm Mirae Asset Global Investments as one of its backers.

Kotak AMC marks first close of maiden performing credit fund

VCCircle

VCCircle · 2m ago

Kotak AMC marks first close of maiden performing credit fund

Kotak Mahindra Asset Management Company announced the first close of its Kotak Credit Opportunities Fund at Rs 1,200 crore, targeting a hard cap of Rs 2,000 crore. The fund aims to invest in performing credit opportunities with stable cash flows in emerging companies. It is a Category-II AIF, registered with SEBI, focusing on sector-agnostic investments. The fund is backed by high-net-worth individuals, family offices, corporate treasuries, and institutional investors.

Sundaram Alts floats maiden performing credit fund; second in corporate credit strategy

VCCircle

VCCircle · 9m ago

Sundaram Alts floats maiden performing credit fund; second in corporate credit strategy

Sundaram Alternate Assets, the alternative asset management arm of Sundaram Finance, has launched its maiden performing credit fund. This is the second corporate private credit fund launched by the company, but the first one with a focus on extending credit to performing companies. The move aims to expand the company's credit offerings and increase its assets under management in the coming years.

Avendus hits halfway mark in first close for third private credit fund

VCCircle

VCCircle · 3m ago

Avendus hits halfway mark in first close for third private credit fund

Avendus PE Investment Advisors has reached the halfway point in the first close of its third private credit fund, raising about Rs 1,000 crore out of a Rs 2,000 crore target, with a greenshoe option for an equal additional amount. The fund, Avendus Structured Credit Fund III, focuses on growth-stage companies with differentiated business models, aiming for transactions ranging from Rs 200-500 crore and an IRR of 16-18%. The fund is sector-agnostic and seeks institutional investors.

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