Vivriti Capital raises $55Mn from Creation Investments & Lightrock India

Vivriti Capital, a marketplace for mid-market enterprises, has reportedly secured around $55 million in its Series C funding round, taking the total funds fundraised till today to $165 million, as per the company.

The round was headed by existing investors Creation Investments and Lightrock India after being a part of the Series A and B rounds. Furthermore, Avendus Capital was the special financial advisor to Vivriti Capital for this transaction.

Apart from lending in collaborations with global debt investors and banks, Vivriti Capital also provides advisory and investment banking services to its customers.

The valuation has increased to three times, said the company.

Vineet Sukumar, co-founder and CEO of Vivriti Capital and Vivriti Asset Management, said that the recent funding is a breakthrough moment for the firm and its investors. The firm has witnessed considerable scale and impressive growth across debt products during the pandemic.

The equity capital will offer the firm sufficient power to scale across international and domestic markets.

Vivriti Capital was co-founded in 2019 by Gaurav Kumar and Sukumar. They co-founded CredAvenue, a unicorn debt marketplace headed by Vineet Kumar, while Sukumar heads Vivriti.

Both of them continue to be on the boards of Vivriti Capital and CredAvenue.

As per credible sources, Vivriti Capital has a target of $5 billion in assets under management in the coming four to five years, up from the present $700 million.

The firm wishes to accomplish this via its balance sheet and its Vivriti Asset Management.

Furthermore, the firm has around 300 clients in 26 states and claims to have a retention of 90%. Vivriti Asset Management offers a debt between Rs 25-75 crore to mid-sized and emerging operating companies for a tenure of 2 to 4 years.

Source Credit - https://www.moneycontrol.com/news/business/vivriti-capital-raises-55-million-in-series-c-funding-round-led-by-lightrock-india-and-creation-investments-8283691.html