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Chennai-based online corporate lending platform Vivriti Capital plans to create an alternate assets platform that will set up and manage long-term alternative investment funds. The new platform will be a wholly-owned subsidiary that will invest in corporate debt, structured finance transactions as well as quasi-equity structures. The alternative investment funds will be set up with 3-10 years of tenure.
Vineet Sukumar, Founder and Director of Vivriti Capital, told Business Line that, “We have witnessed remarkable success in the last 18 months. In a very short time, we have scaled up to ₹ 10,000 crore of business through our technology-based marketplace. Buoyed by this success, we have consolidated our plans of launching our alternate assets platform.”
Th alternate assets platform will benefit from the due diligence and risk management infrastructure that Vivriti Capital already has in place, Sukumar said adding that the company will go through various checks before onboarding any corporates and financial institutions on its platform in a bid to ensure low default rate.
The alternate assets platform is a part of the lender’s strategy to be a full-service debt provider to corporates and financial institutions. It expects the business to be at ₹ 5,000 crore over the next few years.
“Our distribution strategy will determine the composition and skew of each individual fund within the platform. And over time, we aim to manage specific thematic funds that focus on targeted sectors or specific financial products. Wealth and offshore markets will, in particular, be key areas of focus,” Sukumar added.
Started in mid of 2017 by Gaurav Kumar and Sukumar, Vivriti Capital recently closed its Series A round of funding of ₹ 200 crore from Creation Investments. It has received approval from the Reserve Bank of India to float an NBFC in January 2018. Its marketplace model provides sourcing, credit, distribution, price discovery, transaction execution and post deal risk assessment support to issuers and investors on a fully automated platform.
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