[Funding alert] Vivriti Capital raises $55M in Series C round from Lightstone India, Creation Investments

Chennai-headquartered non-bank lender Vivriti Capital on Monday said it raised $55 million from returning investors Lightrock India and impact investment management company Creation Investments Capital Management in a Series C funding round. 

With this funding, the NBFC has raised a total capital of $165 million since its inception. The company had last raised a Series B round from Lightstone India, then LGT Lightstone Aspada, and Creation Investments across two tranches in 2020. 

Founded in 2017 by Gaurav Kumar and Vineet Sukumar, Vivriti will utilise the capital for business expansion and technology development for acquisition, product delivery, and portfolio management.

It will also dedicate a part of the capital to its subsidiary — Vivriti Asset Management — to build a global asset management platform focused on performing credits, the company said in a statement. 

“Throughout the pandemic, we've experienced phenomenal growth and considerable scale across debt products. The equity capital will give us sufficient firepower to scale across domestic and international markets,” said Vineet Sukumar, Founder and CEO, Vivriti Capital and Vivriti Asset Management, in a statement.

Vivriti Capital and Vivriti Asset Management together claim to have $700 million in Assets Under Management (AUM) and commitments and debt lines from top ten banks in India and leading international debt investors.

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Besides its mid-market-enterprise focused lending business, Vivriti Group also operates enterprise debt deal and value discovery platform, CredAvenue, which joined the startup unicorn club earlier this month, with a valuation of $1.3 billion in a round led by Insight Partners, B Capital Group, and Dragoneer Investments. 

“Over the last couple of years, Vivriti has emerged as high-scalable, yet extraordinarily safe pair of hands for both global investors and Indian financial institutions to invest in fair-price debt in high-impact companies. We are extremely excited to lead this round to further their journey in transforming enterprise finance for SME businesses in India,” said Kartik Srivatsa, Managing Partner, Lightrock India, in a statement. 

Avendus Capital acted as the sole financial advisor to Vivriti Capital for the transaction.