- ByStartupStory | February 29, 2024
InCred Alternative Investments, a division of InCred Capital, has achieved the first close of its second credit fund, InCred Credit Opportunities Fund-II (ICOF-II), garnering initial commitments surpassing Rs 300 crore.
“We have been among the leading players in the performing credit space and are proud of what we have been able to achieve with ICOF-I and now at the first closing of ICOF-II,” stated Saurabh Jhalaria, CIO – Alternative Credit Strategies at InCred Alternative Investments.
The fund has received commitments totaling Rs 1,000 crore for its private credit strategy across ICOF-I and ICOF-II, with ICOF-II also securing a Rs 50 crore sponsor commitment. With a target corpus of Rs 750 crore, ICOF-II is a Category II closed-end alternative investment fund aiming to generate risk-adjusted returns by providing secured credit solutions to emerging Indian companies.
“The fund’s focus on high-quality, emerging corporates with attractive risk-reward profiles resonates well with investors,” noted Jhalaria. ICOF-II aims to close by 2024, offering growth financing to Indian businesses across sectors such as cleantech, B2B, healthcare, consumers, financial institutions and platforms, and industrials.
“With our deep understanding of the Indian credit landscape and proven track record in credit investing, we are confident that ICOF II will deliver superior returns to its investors,” added Jhalaria.
InCred Group comprises three businesses: InCred Finance, InCred Capital, and InCred Money, recently launching its first Category II alternative investment fund, InCred Growth Partners Fund-I. The fund seeks to invest up to Rs 500 crore in private companies, providing opportunities for high net worth individuals, family offices, and institutional investors.