Northern Arc Investments, a subsidiary of Northern Arc Capital has announced its sixth debt fund with a base size of Rs 150 crore (USD 23 million) to invest in the finance 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 finance 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, Northern Arc Investments 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 finance and microfinance companies namely LEAP India, Satya Microcap, Fusion Microfinance and Chaitanya India Fin Credit. The final close of the fund is expected by the end of first quarter of this fiscal.
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