Creation Investments Capital Management LLC, a global alternative asset manager and leading impact manager in emerging markets, announced its third investment in Vivriti Capital, a tech-enabled credit investment platform in India serving institutional and retail markets. Creation, along with London-based Lightrock India, a global private equity platform investing in sustainable businesses, participated in the US$55 million series C financing round, increasing Vivriti Capital’s fundraising to US$165 million since inception.
Chennai, India-based Vivriti Capital previously secured funding from Creation and Lightrock in its series A and B rounds. Creation remains majority shareholder in Vivriti.
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Vivriti Capital plans to use the funds for business expansion as well as technology for acquisitions, product delivery and portfolio management. Part of the funds will go to its subsidiary, Vivriti Asset Management, to build a global asset management platform focused on performing credits.
Vivriti Capital aims to become the largest technology-enabled mid-market debt lender in India, with a goal to expand its client asset base to more than US$5 billion over the next five years from US$700 million now.
“Vivriti has ambitious growth plans, and this is a crucial step in its journey. We have been impressed with the team’s ability to channel capital to segments underserved by the prevailing financial system in India,” said Tyler Day, Dallas-based partner and head of the Asia region for Creation Investments.
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“Today’s funding milestone underscores the confidence our investors have in us. We are thrilled to conclude a raise in a most challenging macro environment with the support of Creation and Lightrock. We’ve 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 & CEO, Vivriti Capital and Vivriti Asset Management.
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