SUMMARY
The Venture Debt Fund Has Invested Over $5.4 Mn
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Gurgaon-based venture fund, Trifecta Capital Advisors LLP, has invested about $5.41 Mn (INR 36 Cr.) in three startups. These include Hyderabad-based kidney care clinic chain – NephroPlus, express surface logistics firm – Rivigo and messaging platform HelpChat. The amount of investment remains undisclosed.
NephroPlus
Founder: Vikram Vuppala, Sandeep Gudibanda and Kamal Shah
Founded in: 2009
NephroPlus is a kidney care clinic chain. Each NephroPlus center is a one stop shop for all of a dialysis patient’s needs. The startup has raised over $14.2 million from Bessemer Venture Partners and International Finance Corp in previous funding rounds.
Rivigo
Founder: Gazal Kalra and Deepak Garg
Founded in: 2014
Rivigo offers hassle-free, reliable, professional and super-express logistics services. By using simple processes, advanced technology, trained and professional staff, the company helps clients manage long haul logistics seamlessly. The startup has reportedly raised over $10 Mn from Saif.
HelpChat
Founder: Ankur Singla and Vishal Pal Chaudhary
Founded in: 2010
Helpchat, formerly known as Akosha, is a chat based personal assistant app that helps get things done. This could be anything – from recharging your phone to tech support, travel booking, holiday guidance, ordering groceries and food at your doorstep, providing shopping assistance, finding the best deals & coupons, web check-in and laundry etc. It has raised $16 Mn from Sequoia Capital in May this year.
Trifecta invests between $700k to $3.8 Mn depending upon the cash flows and nature of the business. It invests in companies that have at least raised a Series A funding round, with an average investment holding period of 24-36 months. The fund may also invest up to 10% of its total corpus in a single company, based on the opportunity, Khanna said.
The venture firm will be looking to invest in 3-4 companies by end of fiscal 2016. “The objective is to back companies that are beyond the concept stage, and have achieved scale,” said Rahul Khanna, managing partner of Trifecta Capital.
He further added, “Compared to the cost of capital for equity, which can range between 24% and 36%, interest rates on capital lent by venture debt firms are 15-16%,” said Khanna. “In a lot of way, it trumps equity.”
Rahul started Trifecta venture fund in 2014 along with Nilesh Kothari, who previously was serving as heading the ventures and acquisitions division at Accenture.
In September, Trifecta Capital Advisors LLP, has achieved its first close with around $30 Mn capital for its fund. The venture debt fund is targeting final corpus of $76 Mn (INR 500 Cr.).
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