Venturesoul Capital, a SEBI registered Category II AIF, has launched its maiden debt fund, Venturesoul Capital Fund I, with a target capital of Rs 6,000 crore. The fund has so far attracted investments from family offices, corporates, High Net Worth Individuals (HNIs) and other notable investors.
The anchor investor in the technology-focused structured debt fund is Micro Labs Ltd. Other investors include Kreditbee founder E Madhusudan, Baazar Kolkata promoter Abhishek Khemka and Ponnuswami M of the Pure Chemicals group.
The fund aims to close its first round of funding soon and will invest in companies at Series A and above with proven revenue models. The sector-agnostic fund plans to actively invest in a diverse range of fintech, B2C, B2B and SAAS companies, according to a company statement.
Related article: Axis MF is seeing recovery, but dilution of growth shares is a concern
The fund will focus on providing differentiated debt solutions to the new economy sector.
VentureSoul Partners was founded by three former HSBC bankers, Anurag Tripathi, Ashish Gala and Kunal Wadhwa. With successful experience in building businesses from scratch across various organisations both locally and internationally, the trio founded VentureSoul with an eye towards creating value-based enterprises.
According to a recently released report by Stride Ventures, India's venture debt market crossed the $1.2 billion mark last year amid growing confidence among founders, venture capitalists and investors.
Read this: India's venture debt market to cross $1 billion in 2023: Report
The milestone represents a 50% increase over the previous year, bringing the number of deals to between 175 and 190, and reflects a compound annual growth rate (CAGR) of approximately 34% from 2017 to 2023, the report showed.
Ishpreet Singh Gandhi, managing partner at Stride Ventures, said the market is expected to reach $1.8 billion to $2 billion by 2026.
Find all the latest stock market news updates here
Disclaimer: The views and recommendations expressed above are those of the individual analysts or brokerage firms and not those of Mint. We recommend checking with a qualified professional before making any investment decisions.
36 million Indians visited our site in a single day and it has become the undisputed choice platform for Indian General Election Results. Check here for the latest updates.
Topics you may be interested in
Source link
