InCred Alternatives Surpasses Target of ₹500 Crores at Fnal Close of Maiden PE Fund

MUMBAI:
InCred Alternative Investments Private Limited (“InCred Alternatives”), part of InCred Capital Financial Services Limited (‘InCred Capital”) announced the successful final close of its maiden Private Equity fund – InCred Growth Partners Fund-I (“IGPF-I”, the “Fund”). The Fund has secured capital commitments in excess of ₹575 crores, well above its target size of ₹500 crores (after exercising the greenshoe option), with support from large family offices, UHNI and HNI investors.

IGPF-I is focused on the themes of consumption, enterprise, technology and financial services, and has made investments in multiple high-growth and well scaled companies including Manjushree Technopack, Shadowfax, Niva Bupa and Purplle. Of these, Niva Bupa has already been listed since November 2024. In addition, the Fund is in advanced stages of discussions and has recently offered term sheets to two more companies.

IGPF-I is led by Vivek Singla, Managing Partner & CIO – Private Equity at InCred Alternatives, who has more than two decades of investment management experience in both the private and the public equity markets.

He believes that private equity investing in India is at a very attractive juncture. There has been a broad-based reset in the pricing expectations and a concomitant shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all costs.’ This offers very exciting entry points for fresh investing by new funds like IGPF-I.

Commenting on the successful close of the Fund, Vivek said, “The close of IGPF-I marks a significant milestone for InCred Alternatives and reflects the confidence that the investors have placed in our strategy and approach. We remain committed to identifying and partnering with high-quality businesses in India and supporting ambitious entrepreneurs in the next phase of their growth.”