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The shares were acquired by a mix of domestic mutual funds, insurance firms and global institutional investors.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
Goldman Sachs, Societe Generale, and Citigroup Global Markets were major participants in the block deal, collectively acquiring a 1.34% stake in Paytm.
The fund will make structured credit investments in mid- and large-sized companies and focus on senior secured lending strategies.
The investment round also saw participation from Shepherd's Hill Private Equity, ESV-Arthya AIF, and Roots Ventures.
This comes after the the Union Cabinet had approved the Startup India Fund of Funds 2.0 earlier in February.
The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures.
Aye Finance's largest shareholder Elevation Capital (formerly SAIF Partners) is not participating in the offer for sale.
