Trifecta looks to raise $240 million for fourth venture debt fund
Venture debt firm Trifecta Capital has launched its fourth fund, aiming to raise up to Rs 2,000 crore (around $240 million), including a greenshoe option of Rs 500 crore, founder and managing partner Rahul Khanna told ET.
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The firm, which has backed the likes of Zepto, Meesho, BlueStone and Urban Company, has so far deployed Rs 6,000 crore from its three funds, including recycled capital.
Khanna said Trifecta Capital will deploy the funds across sectors but has stayed away from “risky sectors” such as cryptocurrencies, gaming and peer-to-peer (P2P) lending.
In September last year, the firm had announced the final close of its third fund at Rs 1,777 crore, surpassing its original target of Rs 1,500 crore. It had raised Rs 500 crore for the first fund and Rs 1,024 crore for the second.
“We’re coming up to our tenth year and we have a formula that works…so the idea is to do more or less the same,” Khanna said. “Of course, with every fund, the underlying sectors are different, and so from a pipeline perspective, it’ll be a different cohort of companies. For our fund-I, BigBasket was a big investment for us, and for fund-III, Zepto is a big investment.”
Founded by Khanna and Nilesh Kothari in 2015, Trifecta Capital has invested in more than 30 unicorns—privately held startups with valuations of over a billion dollars—and more than a dozen companies with
