Trifecta Capital launches third venture debt fund

Venture debt firm Trifecta Capital on Wednesday launched its third fund with a target corpus of Rs 1,500 crore that includes a green shoe option of Rs 500 crore.

The fund aims at serving the rapidly growing financing opportunities for Indian start-ups. The fund will partner with 50 to 75 category-leading start-ups that are seeking alternative sources of growth capital.

“With this third venture debt fund, we will strengthen our existing investor relationships and selectively add new investors who can add value to our portfolio companies,” said Rahul Khanna, Managing Partner, Trifecta Capital.

“We aim to further enhance our track record of delivering consistent returns every quarter as well as best in-class venture debt fund returns to our investors, as we help them participate in some of the most exciting new businesses in India,” Khanna added.

The Trifecta Capital’s Venture Debt Funds have invested nearly Rs 2,200 crore ($293 million) in more than 85 start-ups.

Its portfolio now has 11 unicorns and more than 15 soonicorns, with marquee businesses, including Big Basket, PharmEasy, Cars24, Vedantu, Dailyhunt, UrbanCompany, CarDekho and BharatPe, among several others.

The portfolio is cumulatively valued at $33 billion.