DMI Alternatives raises $40-M for fintech fund Sparkle

DMI Alternatives Pvt Ltd has raised USD 40 million for The Sparkle Fund, which is part of its DMI Alternative Investment Fund (DMI AIF). Set up in 2017 to focus on Fintech investments. Sparkle has invested USD 10 million across companies including M2P, Credgenics, Servify, Uni, and Mobikwik. Sparkle focuses on alternative lending, consumer finance, financial services IT, payments, wealth-tech and AI-ML platforms to drive automation. Sparkle will continue to make investments across all stages and expects to make more than 20 investments from the fund.