Trifecta Capital, which has backed the likes of Zepto and BharatPe, has launched its fourth venture debt of Rs 2,000 crore ($239 million).
Including a greenshoe option of Rs 500 crore, the fund is its biggest so far, as venture debt becomes a viable alternative to equity funding amid the prolonged funding winter.
Venture debt into Indian startups has increased 50% in 2023 to $1.2 billion, according to a report by Stride Ventures.
In September, Trifecta closed its third fund at $213 million and has invested over Rs 6,000 crore in 180 startups since 2015.
Some of its investments include Atomberg, BigBasket, BlueStone, Country Delight, Cars24, Cashfree, Curefit, DailyHunt, GlobalBees, Infra.Market, Livspace, Meesho, PaperBoat, UrbanCompany, Zolve.
In an interview with DealStreetAsia, Trifecta co-founder Rahul Khanna said their pace of deals has picked up in 2024 and the firm is seeing an opportunity to deploy Rs 1,400-1,500 crore ($167-178 million) this year.
Edited excerpts of the interview:-
