Private Equity Fund Investments
Debt platform CredAvenue raises $90-M from Sequoia, Lightspeed, TVS Capital, others
Chennai-based debt platform CredAvenue has raised USD 90 million in equity capital led by Sequoia Capital India (via Sequoia Growth Investments) and co-led by Lightspeed Ventures (via Lightspeed India Partners III), TVS Capital (via TVS Shriram Growth Fund III), Lightrock India (via Lightstone Global Fund) and fintech startup CRED. The Series A funding reportedly values the company at approximately USD 410 million. The funds raised will be used to expand product capabilities and ramp up the platform's technology and data science infrastructure. Avendus Capital was the exclusive financial advisor to CredAvenue on the transaction. CredAvenue is a subsidiary of Vivriti Capital Private Limited (VCPL), which connects institutions, investors, small enterprises and individuals that lack efficient access to financial services in India. Following this funding round, VCPL will continue to own a 58.5% majority stake in CredAvenue. Vivitri is majority owned by Chicago-based Creation Investments. CredAvenue's platform offers lending institutions and enterprises solutions for discovery and execution across a range of products. The platform has facilitated over INR 55,000 crores of debt and has a network of over 150+ lenders and 800+ financial institution corporate borrowers. It has specialized sub platforms for pool transactions, loans, bonds, fulfilment, analytics, and risk management solutions.
From the Venture Intelligence PE-VC Deal Database: In Mar-20, Vivriti Capital had raised more than INR 450 crores from Lightrock India and Creation Investments (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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