PE Fund Investments
True North-backed Infinity Fincorp raises $26-M led by Jungle Ventures
Infinity Fincorp Solutions Pvt Ltd , a Mumbai-based non-banking finance company, has raised USD 26 million led by Jungle Ventures with participation from Magnifico (a group of high-networth individuals). Unitus Capital acted as the financial transaction advisor and Samvad Partners acted as legal advisor to Infinity Fincorp. Shardul Amarchand Mangaldas acted as legal advisor to Jungle Ventures.Infinity operates in eight states, specialising in lending to micro-entrepreneurs like tea shop owners, vegetable vendors, small machine enterprises, restaurants, provision stores, textile shops, electricians, plumbers, carpenters, milkmen, laundry service providers, hairdressers, and financially underserved small-scale manufacturers. The firm claims to have a loan book of INR 750+ crore across 20,000+ loans as of March 2024.Indium IV (Mauritius) Holdings Ltd (a unit of PE firm True North) will continue to have a controlling stake in Infinity.
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