Trifecta Capital closes 2nd debt fund at Rs 1,025 cr

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SME Times News Bureau | 06 Mar, 2021
Trifecta Capital on Friday announced that Trifecta Venture Debt Fund-II, its second venture debt fund, launched in March 2019 has been oversubscribed in its final closing.

The fund, with a target of Rs 1,000 crore ($137 million), including a green shoe option of Rs 250 crore, received investor commitments of Rs 1,025 crore ($ 140 million), said a company statement.

Trifecta Venture Debt Fund-II has already invested Rs 900 crore ($ 123 million) across 38 companies and with a provision to recycle capital, will have an investible corpus of up to Rs 2,560 crore ($ 350 million).

Trifecta Capitals' funds are predominantly backed by institutional investors including banks, insurance companies, development institutions, public sector entities, corporates and endowments , from India and offshore, as well as some of India's largest family offices.

Its portfolio companies include Big Basket, Pharmeasy, Cars24, Vedantu, Infra.Market, ShareChat, Dailyhunt, UrbanCompany among others.

Rahul Khanna, Managing Partner said: "Successfully closing Fund-II during these challenging times is evidence of the performance of our funds and the maturity of the asset class which we pioneered in 2014. Besides consistently beating the quarterly hurdle on returns for over five years across both funds, we have returned a significant portion of our first Fund to investors and are building a strong foundation for the future."

It will be launching its third venture debt fund in Q3 2021. The size of this fund is likely to be in the range of Rs 1,200 crore - 1,500 crore.