Vivriti Capital Pvt. Ltd., an RBI-registered non-deposit taking NBFC, has raised $55 million (about ₹400 crore) in its Series C funding from Lightrock India, a global private equity platform investing in sustainable businesses, and Creation Investments, a global impact investment management company.
With this latest round of funding, Vivriti Capital has cumulatively raised $165 million since inception.
Avendus Capital was the exclusive financial advisor to Vivriti Capital on this transaction.
The Chennai-headquartered firm will use the funds for business expansion as well as technology for acquisitions, product delivery and portfolio management. Part of the funds will go to its subsidiary, Vivriti Asset Management, to build the global asset management platform focused on performing credits.
“Throughout the pandemic, we experienced phenomenal growth and considerable scale across debt products. The equity capital will give us sufficient firepower to scale across domestic and international markets,” said Vineet Sukumar, founder and CEO, Vivriti Capital and Vivriti Asset Management.
Kartik Srivatsa, managing partner, Lightrock India, said. “Over the last couple of years, Vivriti has emerged as highly scalable, yet extraordinarily safe pair of hands for both global investors and Indian financial institutions to invest in fair-price debt in high-impact companies.”
“We have been impressed with the team’s ability to channel capital to segments underserved by the prevailing financial system in India,” Tyler Day, Partner at Creation Investments, said.
