AION Capital-led Clix Capital is looking to raise $250 million from new investors to fund its growth plans. The company will appoint bankers for the fund raising in the next few days, sources said.
AION Capital and its partners bought the commercial lending and leasing business of GE Capital in India, and renamed it Clix Capital. The firm, which currently has an asset base of $300 million, has identified three major segments for business — consumer loans, lending to small and medium enterprises (SMEs) and commercial/corporate lending.
“The SME and consumer lending businesses have grown significantly since its acquisition and will need further capital for its next level of growth,” said Parth Gandhi, managing director of AION Capital, confirming the fund-raising programme. He, however, declined to get into specifics.
AION Capital, with approximately $825 million in committed capital, has been established through a strategic partnership between ICICI Venture and US-based asset manager Apollo Global Management.