Paragon Partners Growth Fund today announced the completion of two new investment transactions worth Rs 100 crore.
The transactions comprise a Rs 75-crore investment in Cravatex Brands Ltd, a retail and distribution platform for lifestyle, sports and wellness; and a Rs 25-crore investment in InCred Finance, a technology-driven new age non-banking finance company (NBFC).
With the completion of these two transactions, Paragon Partners has taken its total fund deployment to Rs 275 crore across four companies.
Paragon Partners was floated by Siddharth Parekh, son of HDFC Chairman Deepak Parekh, and entrepreneur Sumeet Nindrajog in August 2015.
"Paragon Partners is thrilled to support InCred in its goal to be a world class lending platform. InCred has put together a very strong management team with deep domain expertise and a well-defined execution plan," Parekh said in a statement.
"We believe that the company is ideally positioned to benefit from a significant lending opportunity given the current levels of credit penetration in India," he added.
Paragon Partners focuses largely on five key sectors -- consumer discretionary, financial services, infrastructure services, industrials and healthcare services -- and looks to invest in companies where it can play an active role as a shareholder.
The firm targets an investment size of USD 10-15 million as minority growth capital.
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