Trifecta Cap raises Rs 1,025 cr debt fund

Mumbai: STARTUPS-focused alternate financing platform Trifecta Capital, which has already invested Rs 900 crore across 38 companies, has closed its second fund, raising Rs 1,025 crore.

Since the Rs 1,025-crore Trifecta venture debt fund-II has a provision to recycle capital, the fund will have an investible corpus of up to Rs 2,560 crore, the company said on Friday. Across the two debt funds, Trifecta has invested around Rs 2,000 crore in 72 early growth and growth stage startups since the launch in 2014. Trifecta venture debt fund-II was launched in March 2019, and has been oversubscribed at closing.

The fund had a target of Rs 1,000 crore, including a green shoe option of Rs 250 crore, but received investor commitments of Rs 1,025 crore. Trifecta, founded by Rahul Khanna and Nilesh Kothari in 2014, was the first to launch a venture debt fund in the country in 2014 with a corpus of Rs 500 crore. Since then, this fund has already returned over three quarters of its capital to its investors, and is likely to return 100 per cent of the capital by June 2021.

Trifecta's portfolio companies include Big Basket, Pharmeasy, Cars24, Infra.market, Sharechat, Dailyhunt, Urbancompany, Curefit, Cardekho, Blackbuck, Ninjacart, Nobroker, Kreditbee, Turtlemint, Livspace and Bharatpe, among others. The Trifecta portfolio has cumulatively raised USD 8.1 billion of equity which is now valued at USD 20 billion. Trifecta Capital will be launching the third debt fund in the third quarter of 2021 with a corpus of Rs 1,200-1,500 crore. With tailor-made financing and advisory solutions, Trifecta serves market leaders and category creators spanning domains like B2B, consumer services, consumer brands, e-commerce, mobility, edutech, agritech, fintech and healthcare.