VentureSoul Capital has marked the first close of its maiden investment vehicle that was launched in July by the Mumbai-based venture debt firm.
The firm had launched a category II alternative investment fund (AIF), with a target corpus of $36 million (Rs 300 crore), with a greenshoe option of another Rs 300 crore, to invest across sectors in the new economy space.
The first close was marked at nearly half the fund’s size, the company said in a statement.
The fund has so far received commitments from a mix of family offices, corporates, HNIs, professionals and other investors.
The fund, anchored by healthcare major Micro Labs, has also received commitments from corporate investors Rupa Group, Glen Appliances Ltd and PSN Group, along with individuals including E Madhusudan, founder of Kreditbee, Omkar Shirhatti of Perfios, along with promoters of SKM Steels and Zebronics Group.
The firm was set up by three bankers Anurag Tripathi, Ashish Gala and Kunal Wadhwa, who plan on providing differentiated debt products for the new age economy client.
The founders said they intend to augment the scale and size of VentureSoul’s operations by working further with the broader ecosystem – undertaking disciplined deployment as also continuing to reach out wider for subsequent fund raise rounds.
The fund, while sector agnostic, will mainly invest across fintech, business to consumer, business to business and software as a subscription companies. These investments will be made in companies at Series A or beyond stage, with a demonstrated business and revenue model.