New Delhi: Global asset management firm, Varanium Capital, announced the first close of its maiden venture debt fund worth Rs 250 crore.
Through a mix of revenue-based financing and traditional venture debt, the fund would provide financing to 100 early and growth-stage startups in India.
Varanium Capital manages nearly $1 billion of assets across the asset classes, including portfolio management services (PMS), venture capital funds and structured debt.
“Venture debt fund will provide financial backing to start-ups in sectors such as D2C (Direct-to-consumer), SaaS (Software as a Service), B2B commerce and fintech, who required to scale their operations,” said TS Anantakrishnan, Founder, Varanium Capital.
Nawal Bachhuka, who has rich experience in underwriting and risk management spanning supply chain financing, MSME, and digital lending, will manage the venture debt fund.
The fund has successfully attracted top-tier domestic and global limited partners (LPs). It has secured an anchor investor and has received commitments from family offices, ultra-high-net-worth individuals, and seasoned entrepreneurs, including former CEOs and CXOs of banks.
Varanium Capital has invested in 12 start-ups, including Riskcovry, Easebuzz, Homeville and Finvu etc. it also has a fintech-focused venture equity fund.
