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True North anchored lender creates outsized gains for the PE firm with new funding round

VCCircle

VCCircle · 7m ago

True North anchored lender creates outsized gains for the PE firm with new funding round

True North, a homegrown private equity firm, is reaping substantial gains from a lending investment it initiated eight years ago. The firm, which began raising its seventh fund in early 2022, has reduced its target for this vehicle. True North's strategic move in the lending sector, effectively an incubation initiative, has proven highly successful, adding significant value despite the broader fundraising adjustments. This underscores True North's adeptness in capitalizing on growth opportunities.

Related News

Beams Fintech Fund bets on PE-backed lender Infinity Fincorp

VCCircle

VCCircle · 4m ago

Beams Fintech Fund bets on PE-backed lender Infinity Fincorp

Beams Fintech Fund has invested in Infinity Fincorp Solutions Pvt Ltd as part of the company’s extended Series A funding round, which totals $40 million. This investment follows a previous $35 million raise led by Jungle Ventures, Archerman Capital, and Magnifico. Infinity Fincorp, supported by PE firm True North, offers loans to underserved micro-entrepreneurs and plans to use the new funds to expand its loan book and branch presence across eight Indian states.

True North scripting a multi-bagger with $250-mn PE exit

VCCircle

VCCircle · 2m ago

True North scripting a multi-bagger with $250-mn PE exit

True North, a private equity firm, has exited one of its longest-held investments, initially backed in 2010, with a $250 million sell-off. Despite holding the investment for a lengthy period, which limited potential gains, the firm has undertaken several monetization moves and reduced the target corpus of its seventh flagship fund in recent years. This exit marks another significant transaction amid their strategic financial maneuvers.

True North presses exit button on one of its single-biggest PE bets

VCCircle

VCCircle · 1y ago

True North presses exit button on one of its single-biggest PE bets

Private equity firm True North is making an exit from one of its single-biggest investments, a portfolio company that it had held for five years. True North has been active in monetization moves recently while also reducing the target corpus of its seventh flagship fund. This move comes as True North continues to make strategic moves in the Indian PE market.

True North-backed domestic NBFC adds new investor to cap table

VCCircle

VCCircle · 1y ago

True North-backed domestic NBFC adds new investor to cap table

A domestic non-banking financial company (NBFC), supported by True North, has secured additional funding from a venture capital firm based in Singapore. True North, a private equity firm, previously raised Rs 1,000 crore for its private credit fund. The NBFC has now attracted a new investor to its shareholder list.

True North hits sell button on single biggest PE bet with poor returns

VCCircle

VCCircle · 1y ago

True North hits sell button on single biggest PE bet with poor returns

Private equity firm True North has opted to sell a five-year-old portfolio company, in what is being seen as its biggest private equity bet yet. The move comes after True North made a number of monetization moves in 2023, as well as reducing the target corpus of its seventh flagship fund. The firm had a disappointing start to the year but hopes that this sale will help improve its overall performance.

Growing faster than industry, to maintain pace: PE-backed Home First Finance’s CEO

VCCircle

VCCircle · 5m ago

Growing faster than industry, to maintain pace: PE-backed Home First Finance’s CEO

Home First Finance Company India Ltd, a private equity-backed mortgage lender, experienced a significant 33% growth in assets under management, reaching Rs 11,949 crore by December 31. This expansion was primarily fueled by an increase in disbursements. The company, supported by firms like Warburg Pincus and True North, aims to maintain this rapid growth pace, surpassing industry standards. CEO Manoj Viswanathan spearheads these efforts, focusing on strategic measures to continue the upward trajectory.

Bottomline: PE-backed Integrace’s margins shrink, revenue growth marginally better

VCCircle

VCCircle · 8m ago

Bottomline: PE-backed Integrace’s margins shrink, revenue growth marginally better

Integrace, a drugmaker backed by private equity firm True North and Singapore state investment firm Temasek, saw a slight improvement in revenue growth for the fiscal year ending March 2024. However, the company's margins continued to shrink. Integrace focuses on musculoskeletal disorders, pain management, and women's health products. Headquartered in Mumbai, the company's performance highlights the ongoing challenges it faces in maintaining profitability.

True North charting nearly $800 mn harvest in its biggest exit ever

VCCircle

VCCircle · 1y ago

True North charting nearly $800 mn harvest in its biggest exit ever

Private equity firm True North is reportedly on track for its biggest exit ever, potentially earning nearly $800 million. The firm has had a mixed year, with two unsuccessful liquidity moves from Indian companies and a reduced target corpus for its seventh flagship fund. However, this new exit could be a significant milestone for True North, which is one of India's oldest private equity firms.

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

VCCircle

VCCircle · 10m ago

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

- True North considering complete exit from Shree Digvijay Cement Company - Edelweiss Alts, CarDekho, and Afcons in IPO news - True North exploring options to sell its stake in Shree Digvijay Cement Company - Private equity firm engaged advisors for the exit - True North currently holds a 54.83% stake in the company

True North leads Series B funding in Nivara Home Finance

VCCircle

VCCircle · 4m ago

True North leads Series B funding in Nivara Home Finance

Nivara Home Finance raised Rs 220 crore in a Series B funding round led by True North, with contributions from existing investor Baring PE India and company promoters. The funding will enhance Nivara's technology, expand its market reach, and develop new credit solutions. With a decade in operation, Nivara has assets under management of Rs 700 crore. The investment supports Nivara’s vision to advance affordable housing finance in India, joining True North’s financial services portfolio.

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