Vivriti Capital

Chennai-headquartered non-bank lender Vivriti Capital has raised $55 million from returning investors Lightrock India and Creation Investments Capital in a Series C funding round. 

The NBFC has raised a total capital of $165 million since its inception from this funding. Prior to this funding round, the company had raised a Series B round from Lightstone India, LGT Lightstone Aspada, and Creation Investments. 

 Vivriti Capital was founded in 2017 by Gaurav Kumar and Vineet Sukumar. Vivriti will utilize the capital for the following points:

  • business expansion,
  • technology development for acquisition,
  • product delivery, and
  • portfolio management.

Vivriti Capital and Vivriti Asset Management combinedly claim to have $700 million in Assets Under Management (AUM) and commitments and debt lines from the top ten banks in India and leading international debt investors.

Apart from this mid-market enterprise, Vivriti Group also operates an enterprise debt deal and value discovery platform. Avendus Capital played the role of the sole financial advisor to Vivriti Capital for the transaction.

EXECUTIVE OPINION:

The company will also dedicate a part of the funding to its subsidiary — Vivriti Asset Management — to build a global asset management platform emphasizing on performing credits, the company said in a statement. 

“Throughout the pandemic, 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 and CEO, Vivriti Capital and Vivriti Asset Management, in a statement.

“Over the last couple of years, Vivriti has emerged as a high-scalable, yet extraordinarily safe pair of hands for both global investors and Indian financial institutions to invest in fair-price debt in high-impact companies. We are extremely excited to lead this round to further their journey in transforming enterprise finance for SME businesses in India,” said Kartik Srivatsa, Managing Partner, Lightrock India, in a statement.