Vivriti Asset Management said it partnered with Swiss impact investment firm Enabling Qapital Ltd to invest up to Rs 375 crores ($51.4 million) in the United Nation’s sustainable development goals (SDGs).
The Indian asset manager will support businesses that are expected to lead economic recovery post pandemic, the Chennai-based company said.
The partnership will provide debt capital to support small enterprises and fintechs, empower women entrepreneurs and strengthen agriculture supply chains.
“We are excited about our partnership with Vivriti Asset Management for our India investment strategy, which aims to channel capital to segments underserved by the prevailing financial system”, Chuck Olson, managing partner at Enabling Qapital said.
The alliance will leverage Vivriti’s record of identifying high-quality enterprises, investing in Indian credit markets and managing risk across business cycles, Olson said.
Earlier this year, Vivriti Asset Management raised commitments of Rs 1,300 crores across its funds from international and domestic investors interested in investing in the performing credit space in India. The funds target yields between 8-16%, it said.
VAM is a unit of non-bank lender Vivriti Capital Pvt Ltd. It raised Rs 100 crore as part of its Series B funding round led by existing backer Creation Investments. Vivriti is a registered non-bank finance company and directly lends from its balance sheet.
VAM builds on Vivriti group’s sectoral expertise to provide a stable and predictable risk-adjusted return on its fixed-income focused funds. It has its operations in Switzerland, Liechtenstein, Kenya, Pakistan, Kirgistan, India and Ecuador.