InCred Alternatives close maiden PE fund at Rs 575 crore

InCred Alternatives close maiden PE fund at Rs 575 crore

10 Apr 2025, 01:12 AM

The IGPF-I Fund has secured capital commitments in excess of Rs 575 crore, which is above its target size of Rs 500 crore, the company said.

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InCred Alternative Investments, part of InCred Capital Financial Services Limited, has announced the successful ﬁnal close of its maiden private equity fund -- InCred Growth Partners Fund-I (IGPF-I).

The Fund has secured capital commitments in excess of Rs 575 crore, which -- according to the company -- is above its target size of Rs 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 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 at InCred Alternatives, who has more than two decades of investment management experience in both the private and the public equity markets.

Commenting on the close of the Fund, Singla 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."

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