Samreen Ahmad · · 1 min readIndian venture debt firm raises $130m in first close for new VC fund
India-based venture debt player Trifecta Capital has announced the first close of its late-stage venture capital fund with commitments amounting to over US$130 million. The Trifecta Leaders Fund I was launched three months ago with a target size of US$200 million.
The first close saw participation from domestic investors including large corporates, insurance companies, marquee family offices, ultra high net worth individuals, and entrepreneurs. Trifecta Capital did not disclose the names of these investors.
Trifecta Capital Managing Partner Rahul Khanna / Photo credit: Trifecta Capital
The fund will write checks of US$15 million to US$30 million for around 10 to 12 companies, which will grant Trifecta Capital minority stakes in these firms.
“Having already made five investment commitments from the fund, we are solving for diverse capital needs spanning primary capital for growth and off-cycle liquidity to early investors,” said Lavanya Ashok, partner at Trifecta Capital. Other Trifecta partners include Rahul Khanna and Nilesh Kothari.
Trifecta Capital, through its venture debt portfolio, has invested in over 75 companies including 20 unicorns and “soonicorns” such as BigBasket, PharmEasy, Cars24, Vedantu, Infra.Market, ShareChat, DailyHunt, UrbanCompany, CarDekho, BlackBuck, Ninjacart, Mobikwik, and NoBroker.
These companies are valued at US$22 billion combined and have raised over US$8 billion in equity from global VC funds in total.
Editing by Miguel Cordon and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
