Avendus Capital Advises Vivriti Capital on Its USD 30 mn Fundraise From TVS Capital, Raising a Total of USD 85 mn in Series C Funding

The funds will be allocated between Vivriti Capital and its subsidiary, Vivriti Asset Management, which manages closed-ended debt funds investing in mid-sized corporates. The purpose of the equity raise is to focus on the vast opportunity in the mid-market debt space, where Vivriti Capital and Vivriti Asset Management have emerged as the only credible players, bringing global and domestic investors to mid-sized enterprises at scale. The funds will be utilised for business expansion, as well as technology for customer acquisition, product delivery and portfolio management.

Founded in 2017, the Vivriti Group is on track to become the largest technology-enabled mid-market debt lender in India with assets of more than USD 5 billion over the next four to five years. It plans to achieve this target using a combination of a high quality and diversified balance sheet at Vivriti Capital and a performing credit ‘managed’ book through Vivriti Asset Management. Both entities have already established leadership positions with USD 700 million in AUM, and commitments and debt lines from 300+ debt investors, both global and domestic.