You are here: Home » PTI Stories » National » News
Business Standard

Northern Arc Investments floats sixth debt fund to target finance sector

Press Trust of India  |  New Delhi 

Northern Arc Investments, a subsidiary of has announced its sixth debt fund with a base size of Rs 150 crore (USD 23 million) to invest in the sector with a green shoe option to raise it to Rs 250 crore (USD 38 million).

The 'IFMR FImpact Income Builder Fund' will invest in areas like microfinance, small business loan finance, affordable housing finance, commercial vehicle finance, agri-business and corporate finance, a company statement said today.

The fund is set to make 8-10 investments with an average investment ticket size of Rs 20 crore. Till date, has secured commitments totalling in excess of Rs 1,000 crore across all its funds, the company said.

It said having already raised Rs 110 crore, the sixth fund has already made investments in four corporate and microfinance companies namely LEAP India, Satya Microcap, Fusion Microfinance and Chaitanya Fin Credit. The final close of the fund is expected by the end of first quarter of this fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 22:00 IST