nCred Alternative Investments Achieves Successful First Close of Maiden Private Equity Fund, Targets INR 500 Crore

InCred Alternative Investments (InCred Alternatives) has announced the successful first close of its maiden Private Equity fund, ‘InCred Growth Partners Fund – I’ (IGPF – I), marking a significant milestone in the company’s growth trajectory. InCred Alternatives is a part of InCred Capital, the institutional, wealth, and asset management arm of the InCred Group.

Launched late last year, IGPF-I has secured capital commitments of over INR 330 Crore in its first close. The fundraising round received strong support from large HNI/UHNI investors, leveraging InCred’s robust wealth network. The fund aims to achieve a final close of INR 500 Crore and is focused on investing in growth and late-stage companies across consumer, financial services, and enterprise/technology sectors, with an average ticket size of INR 40-80 Crore.

The fund is led by Mr. Vivek Singla, Managing Partner & CIO – Private Equity, InCred Alternatives, who brings nearly two decades of investment management experience in the private and public equity markets. Commenting on the first close, Vivek Singla stated, “The successful first close of IGPF – I is a testament to our strong track record and the trust placed in us by our investors. It also reflects the growing confidence in the private equity space, with private market valuations being at realistic levels and a shift in founders’ mindset towards profitability.”

IGPF-I’s strategy aligns with InCred’s mission of supporting India’s vibrant private market ecosystem, which is experiencing robust growth driven by favorable demographics, increasing consumption, and a burgeoning entrepreneurial ecosystem.

This marks the third alternate strategy from InCred Alternatives, in addition to its private credit and hedge fund strategies. With this round of fundraising in IGPF – I, InCred now has approximately INR 3,000 crores of total funds under supervision across various strategies, including alternatives and equities.

The successful first close of IGPF-I underscores InCred Alternatives’ commitment to delivering value to its investors and supporting the growth of India’s private market ecosystem. As the fund progresses towards its final close, it is poised to make significant investments in high-growth companies, further strengthening its position in the private equity space.