Chennai-Based Fintech Vivriti Capital Raises $55 Mn To Build Global Asset Management Platform

Chennai-based fintech startup Vivriti Capital has raised $55 Mn (nearly INR 400 Cr) in its Series C funding from Lightrock India and Creation Investments. 

The fintehc startup will be deploying funds for business expansion as well as technology for acquisitions, product delivery and portfolio management. A portion of the funds will be deployed in its subsidiary, Vivriti Asset Management to build the leading global asset management platform focused on performing credits.

Adding the current funding, Vivriti Capital has cumulatively raised $165 Mn to date. It previously secured funding from both Lightrock India and Creation in its Series A and B funding rounds. 

“We are extremely thrilled to conclude a raise in a most challenging macro environment with the support of Lightrock and Creation Investments. Throughout the pandemic, we have 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. 

Founded in June 2017 by Vineet Sukumar, Vivriti Capital offers financial services,  investment banking, and advisory services to customers. The fintech startup primarily focuses on investment in technology, underwriting and distribution. It claims to have a portfolio of INR 3,700 Cr and over 300 clients across India. 

According to Vivriti, its subsidiary, Vivriti Asset Management has raised commitments of over INR 2,000 Cr across its funds, and provides tailored debt of INR 25-75 Cr to emerging and mid-sized operating companies for a tenure of 2-4 years.

At present, Vivriti Capital is aiming to become the largest technology-enabled mid-market debt lender in India with assets of more than $5 Bn over the next four to five years. The fintech startup further claims to achieve this target using a combination of high quality and diversified balance sheet at its NBFC and a pioneering ‘managed’ book through Vivriti Asset Management. 

As per its statements, Vivriti Capital and Vivriti Asset Management have established leadership positions with $700 Mn in AuM, commitments and debt lines from top 10 banks in India as well as leading international debt investors.

In February 2022, Vivriti Capital invested an undisclosed amount in Infra.Market’s $30 Mn debt funding round. The round saw participation from Sachin Bansal’s NAVI Finserv, IFK Finance, Meesho’s Vidit Aatrey, Incred Wealth, Credavenue, and Sanjeev Kumar, among others.

In November 2021, Vivriti Capital pumped in  B2B online lender Indifi’s about $45 Mn equity and debt funding round. CX Partners and OP Finnfund Global Impact Fund I, along with existing investors CDC Group, Omidyar Network, Flourish Ventures, Elevar Equity and Accel invested approximately $19 Mn in the startup’s ongoing Series D round.

Indifi secured INR 165 Cr in debt financing from Vivriti, Northern Arc, SIDBI, among others, while the US International Development Finance Corporation has guaranteed INR 35 Cr to the startup.

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