InCred Alternative Investments launches Private Equity Fund worth Rs 500 crore

 Financial services enterprise InCred’s Alternatives Investments has launched its first alternative investment fund (AIF) in the private equity space.

Called InCred Growth Partners Fund-I (IGPF-I), the fund has a targeted corpus of Rs 500 crore.

It marks the third alternatives strategy from InCred after the launch of its Structured Credit Fund and Liquid Quant Fund strategies over the last two years.

The corpus will fund privately-owned companies, investing in a mix of Series B and C-stage companies across the consumer, financial services, technology and enterprise services sectors. 

It will also allow for HNI, Family Office, as well as institutional investors to access opportunities in private markets.

Vivek Singla, Managing Partner and CIO for Private Equity at InCred Alternative Investments will be leading the fund, the company said.

“It is an opportune time to launch a private equity fund when private market valuations are at realistic levels and there’s been a stark shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all the costs’. The idea with our maiden private equity fund is to run a concentrated strategy and invest in no more than 7-9 companies where we have high conviction,” Singla said.

A CFA Charter-holder, Singla has 18 years of investment management experience, with several investments and exits culminated during his journey in the private markets.

Bhupinder Singh, Founder and Group CEO of InCred said, “The launch of our private equity strategy helps us complete the bouquet of alternate funds for our HNI, UHNI and institutional investor base…(and) provide access to unique investment opportunities in the public and  private markets.”

IGPF-I has been crafted to foster entrepreneurship, generate targeted returns for investors and bring together the founder and investor communities, he added.

The announcement comes on the back of its parent and fintech firm InCred turning unicorn after raising a Series D round worth $60 million (Rs 500 crore) led by Manipal Education and Medical Group’s Ranjan Pai.