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Trifecta Capital closes 3rd venture debt fund at Rs.1,777-Cr

Mint  

Trifecta Capital has hit the final close of its third debt fund at INR 1,777 crore (around USD 213 million), surpassing the initial target of INR 1,500 crore. Investors include global financial institutions, domestic conglomerates, banks, insurers, development financial institutions, public sector entities, and family offices. The firm has now doubled its count of offshore investors, both individuals and institutions, compared to the Trifecta Venture Debt Fund-II. Around 85% of the capital was raised from domestic investors while the rest was sourced from global investors, mainly from the Indo-Japan corridor. Launched in 2021, the third fund has already allocated INR 1,500 crore (USD 180 million) across 51 companies. With a capital recycling provision, it will have an investable corpus of up to INR 4,440 crore (USD 535 million). Trifecta has raised nearly INR 5,000 crore across its three venture debt funds and a growth equity fund. The third fund has so far invested in The Good Glamm Group, Zepto, Rebel Foods, Infra.Market, Udaan, and Globalbees among others. It is looking to raise its fourth fund in the first half of 2024.