PAG-backed Nuvama hits first close of India’s biggest venture debt fund

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Nuvama Wealth Management has marked the first close of India’s biggest venture debt fund, as demand for credit from local companies rises in the wake of a slowdown in venture capital and private equity dealmaking.  Mumbai-based Nuvama, previously known as Edelweiss Wealth Management, had hit the road to raise the debt fund in October last year with a target to collect as much as Rs 3,000 crore ($361 million then). It has now marked the first close at over Rs 850 ......