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India-based fintech raises $16.22m for alternative fund
Veloce Fintech, a Lemon Group subsidiary, raised 140 crore rupees (around US$16.22 million) for its Veloce Opportunities Fund.
It has deployed 100 crore rupees (around US$11.55 million) so far, including 40 crore rupees (around US$4.6 million) through a greenshoe option.
The fund targets a corpus of 200 crore rupees (around US$23.14 million) by March.
Its investments range from 1 crore rupees (around US$115,519) to 20 crore rupees (around US$2.3 million), based on funding opportunities.
Focused on governance and scalability, it targets HNIs and NRIs with 18% projected returns.
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