KKR-backed InCred floats maiden private equity fund

InCred Group’s alternative investment platform InCred Alternatives Investments Thursday announced the launch of its maiden investment vehicle in the private equity space. 

InCred Growth Partners Fund-I (IGPF-I), which is a category-II alternative investment fund (AIF), is InCred’s third strategy in the alternatives space. It had launched its Structured Credit Fund and Liquid Quant Fund strategies over the last two years. 
IGPF-I aims to target an asset under management of up to Rs 500 crore. The fund will invest in privately-owned companies across the consumer, financial services, technology and enterprise services sectors. 

The fund will raise capital from high-net-worth individuals, family offices, as well as institutional investors. 

“The launch of our private equity strategy helps us complete the bouquet of alternate funds for our HNI, UHNI and institutional investor base,” said Bhupinder Singh, founder and group chief executive officer of InCred. 

IGPF-I will invest in a mix of companies at Series B and C stages where growth is likely to drive outcomes, as well as companies with more evolved business models where an increase in business efficiency will drive a multiple expansion, the company said in a statement. 
The fund is being led by Vivek Singla who brings over 18 years of investment management experience. He is an alumnus of IIT Delhi and IIM Lucknow. He is also a CFA Charter-holder.
 
“I feel it is an opportune time to launch a private equity fund – private market valuations are at realistic levels and there’s been a stark shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all the costs’,” said Vivek Singla, managing partner and chief investments officer, private equity, InCred Alternative Investments.  

“The idea with our maiden private equity fund is to run a concentrated strategy and invest in no more than 7-9 companies where we have high conviction,” Singla added.