Trifecta Capital on Monday announced a Rs 1,500 crore fund raise to be invested in equity issuances by domestic companies. The company, which has traditionally been in venture debt, had launched the Trifecta Leaders Fund – I, its maiden offering on equity, in May 2021. It announced a first close in July 2021, according to a statement.
A greenshoe option of Rs 375 crore was added to the fund given the strong investor interest and also the investment opportunities, it added. The fund has recently invested in Dailyhunt, Livspace, Cars24 and Pristyn Care, taking the total capital invested to Rs 730 crore. This is in addition to the already announced investments in ixigo, the Good Glamm Group, API Holdings (Pharmeasy) and Meesho, the statement said.
“These eight companies currently have over Rs 17,000 crore of cash on their balance sheet to pursue their growth plans for the next 18-24 months without needing to raise additional capital in volatile times and are likely to grow at over 50 per cent annually over the next few years,” the statement said. Lavanya Ashok, Partner at Trifecta, said, “we are grateful to our investors for being so supportive of our maiden equity fund”.