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."