Venture debt player Trifecta invests $53m from debut equity fund

The fund was launched in May with a target corpus of ₹1,500 crore ($200 million) and announced its first close in July.

In line with its strategy to back growth- to late-stage category-leading tech companies, the fund has invested in ixigo, Good Glamm Group (MyGlamm), API Holdings (PharmEasy), and Meesho.

Lavanya Ashok, partner at Trifecta Capital said, “Trifecta Capital is delighted to partner with these category-defining companies, solving unmet needs of Indian consumers in truly differentiated ways. Be it democratizing access or broadening choice for the next billion users, our companies are contributing strongly to the vibrant, tech-powered ecosystem in the country.”

Founded by Rahul Khanna and Nilesh Kothari in 2014, Trifecta Capital is India’s leading alternative financing platform for startups across their life cycle. With tailor-made financing and advisory solutions, Trifecta Capital serves market leaders and category creators across domains such as B2B, consumer services, consumer brands, e-commerce, mobility, edtech, agritech, fintech, and healthcare.

As of 30 September, it has raised over ₹1,500 crore across two venture debt funds and ₹1,200 crore ($160 million) in its equity fund. Trifecta Capital recently also launched its third venture debt fund.

Across the venture debt funds, the firm has invested over ₹2,300 crore ($310 million) in over 85 companies. Its portfolio comprises 20 unicorns and soonicorns, including BigBasket, PharmEasy, Cars24, Vedantu, Infra.Market, ShareChat, Dailyhunt, UrbanCompany, CarDekho, BlackBuck, Ninjacart, NoBroker, KreditBee, DeHaat, Turtlemint, Livspace, MobiKwik, ixigo, and BharatPe.

Sandeep Bapat,  also a partner at Trifecta Capital, said, “We are excited to be active market participants in the growth to late-stage VC ecosystem in India through the equity fund and are proud to be backing founders in these leading tech companies. Having already made four investments from the Fund, we aim to be trusted capital partners to founders as they build truly enduring businesses.”

This article was first published in livemint.