InCred private equity fund IGPF - I raises Rs 330 Cr in first close

InCred Alternative Investments announces the first close of its inaugural private equity fund, IGPF - I, raising over Rs 330 crore.

IGPF-I is targeting a final close of Rs 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 Rs 40-80 crore, it said in a statement.

"The successful first close of IGPF - I is a testament to our strong track record and the trust placed in us by our investors," Vivek Singla, Managing Partner & CIO – Private Equity, InCred Alternatives.

In addition to its private credit and hedge fund strategies, InCred Alternatives has embraced private equity as its third alternative investment approach. Following the recent fundraising for IGPF - I, InCred now oversees around Rs 3,000 crore across alternative and equity investments.

In February this year, InCred Alternative Investments, part of InCred Capital, closed its second credit fund, InCred Credit Opportunities Fund-II (ICOF-II), with initial commitments exceeding Rs 300 crore.

In December last year, InCred Finance, the lending arm of InCred Group, became a unicorn, securing $60 million in a Series D round led by Ranjan Pai of MEMG, Ravi Pillai of RP Group, and Ram Nayak of Deutsche Bank. The funding also saw contributions from ultra-high-net-worth individuals, family offices, Varanium Capital Advisors, and Sattva Group.