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

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 ......