Private Equity

PE Fund Investments

Ummeed Housing Fin attracts Rs.630-Cr from A91, others; Lightrock exits with 3x return

Economic Times   Ummeed Housing Finance  

Ummeed Housing Finance has attracted INR 630 crore in a Series F round from investors including A91 Partners, Mirae Asset Management, Anicut Capital and existing investor Norwest Venture Partners. The fundraising is a combination of primary infusion (of INR 300 crore) and an exit for Lightrock Global Fund. DC Advisory India was the exclusive financial advisor to Ummeed.Lightrock Global Fund, which had invested in 2018. exited with a 3x return by selling shares worth INR 330 crore to the incoming investors.The primary funds raised will be used by Umeed to expand in the central and southern parts of India, including Madhya Pradesh, Telangana and Andhra Pradesh.60% of Ummeed’s portfolio consists of affordable housing loans and the remaining secured small-ticket business loans to self-employed individuals in the low and middle-income categories. The company has a loan book of INR 1,800 crore and is looking to expand its asset base to INR 4,000 crore in the next 18-24 months.