Vivriti Asset Management closes debt fund at Rs 265 cr

Chennai-based Vivriti Asset Management (VAM) on Thursday announced the final close of its debt fund -Samarth Bond Fund- with investor commitment totaling Rs 265 crore.

The asset management firm said the raised commitments came from marquee investors including insurance companies, global foundations, large corporate treasuries, bank treasuries, family offices and HNIs.

The Samarth Bond Fund is a Sebi-registered Category 2 Alternate Investment Fund (AIF) and rated Crisil AA+ (SO). The fund invests in debt issued by retail financial services providers that extend last-mile finance to small businesses and individuals for their livelihood. Over 90% of the fund has already deployed across 15 investments, the company said. “The Samarth Bond Fund has invested in a carefully curated portfolio of operating companies with a proven track record of scale, performance and high standards of governance. 45% of the underlying investee companies are rated A- (A minus) or better, and 50% of portfolio entities have seen equity raise over the last 12 months,” Vineet Sukumar, founder and CEO, Vivriti Asset Management, said. Vivriti Asset Management claims to offer 8%-16% yields with low volatility and capital protection. The company has raised commitments of over Rs 1,500 cr across its funds and provides tailored debt of Rs 25-Rs 75 crore to emerging and mid-sized operating companies for 2-4 years tenor.