Varanium Capital Announces First Close Of INR 250 Crore Maiden VC Fund The fund will provide financing to 100 startups in India through a mix of revenue-based financing and traditional venture debt
By Teena Jose
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Asset management firm Varanium Capital has announced the first close of its maiden venture debt fund worth INR 250 crore. The fund will provide financing to 100 startups in India through a mix of revenue-based financing and traditional venture debt. According to the firm, the fund has been able to attract top-tier domestic and global LPs and has secured an anchor investor and has received commitments from family offices, ultra-high-net-worth individuals, and seasoned entrepreneurs including former CEOs and CXOs of banks.
"Venture Debt fund will provide financial backing to startups in sectors such as D2C (Direct-to- consumer), SaaS (Software as a Service), B2B commerce, and fintech who require to scale their operations. With a corpus size of INR 250 crore (including Green Shoe option of INR 50 crore), the fund is well-positioned to provide timely capital injections, enabling startups to seize growth opportunities and expand their market reach," said TS Anantakrishnan, founder, Varanium Capital.
The company further said that this venture debt fund will be managed by Nawal Bachhuka. Varanium NexGen's limited partner (LP) base consists of business persons, professionals and family offices, including the family office of Mohandas Pai. TS Anantakrishnan, founder of Varanium Capital, and Jitendra Gupta, will be on the investment committee. Varanium AMC offers dollar-denominated investment opportunities across debt, equity and structured notes through its funds to offshore investors.
