Vivriti Asset Management, a credit investment strategies platform, has secured a $20 million commitment from the Development Bank of Austria (OeEB) for its Vivriti India Retail Assets Fund (VIRAF).

The latest investment from OeEB raises total commitments in VIRAF to $165 million, moving it closer to its $250 million target. OeEB lends primarily in three areas: green finance, SME development and financial inclusion.

Launched in March 2023, VIRAF is a fund based on asset-backed securitization (ABS) that seeks to fill a gap in financing for micro and small businesses, particularly women-led businesses. VIRAF will be focused on investing in asset-backed securities which are backed by small loans made to retail and MSME borrowers.

As of March 2025, VIRAF has raised approximately $140 million in assets under its management (the fund has distributed $200 million since launch across 25 NBFCs). The funds have reached over 350,000 people, of which more than 100,000 are MSMEs and over 75% of these beneficiaries are women. 

Over the next ten years, Vivriti Asset Management plans to invest over $1 billion in retail ABS.