VentureSoul Partners declares first close of Rs 600 crore maiden fund; raises Rs 146.5 crore
debt firm VentureSoul Partners has completed the first close of its Rs 600 crore maiden fund, raising Rs 146.5 crore.
The fund plans to make debt investments in approximately 25 startups, with an average cheque size of Rs 20-25 crore, founder Kunal Wadhwa told ET.
VentureSoul Partners, founded by former banking professionals Anurag Tripathi, Ashish Gala, and Wadhwa, is a Sebi-registered Category II Alternative Investment Fund (AIF). The firm is targeting a corpus of up to Rs 300 crore, with an additional Rs 300 crore in greenshoe options.
VentureSoul has already secured commitments from a diverse group of investors, including family offices, corporates, and high-networth individuals (HNIs). It aims to back startups that are typically at Series A or later stages, with established business models and revenue streams.
Pharmaceutical company Micro Labs is the anchor investor, with additional participation from corporate investors such as Kredibee founder E Madhusudan, Omkar Shirhatti of Perfios, Rupa Group, Glen Appliances, PSN Group, SKM Steels, and Zebronics.
The debt investment will have a repayment tenure of 24-36 months, with quarterly repayments, Wadhwa noted.
“Three of us are bankers and we have experience in credit and lending, and have seen all kinds of debts, and settlements. For us, this is an extension of what we have been doing… Also, we have got a very solid and diversified set of investors who I think will help us in more ways than just investments,” Wadhva said.
VentureSoul expects to finalise its
