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The investment will be from the funds managed by Modulus Alternatives including its second fund - India Credit Opportunities Fund II, which Modulus Alternatives launched earlier this year with a target corpus of ₹1,250 crore. The fund has so far received capital commitments of more than ₹200 crore, sources said. Modulus Alternatives and Shivam Autotech did not respond to requests for comment.
The structuring of these funds that provide equity upside for the top employees has led to bankers such as Shantanu Sahai and Rakshat Kapoor from Nomura, Deepak Sood of Barclays, and Anuj Kapoor from UBS to take up roles in private credit funds.
SINGAPORE : From India to Singapore, Asia is seeing a boom in private credit funds looking to tap into demand mainly from startups that are moving away from raising equity capital at a sharp discount to their valuations, known as 'down round' in the industry.At least $2.5 billion in new private credit fun
From India to Singapore, Asia is seeing a boom in private credit funds looking to tap into demand mainly from startups that are moving away from raising equity capital at a sharp discount to their valuations, known as 'down round' in the industry. At least $2.5 billion in new private credit funds have been launched or planned in the first half of this year targeting startups in a handful of Asian markets, according Reuters calculations based on reported deals and funds interviewed. The hectic pace of activity comes after private credit funds targeting Asia jumped 76% last year to a...
* At least $2.5 bln new credit funds launched or planned in H1 * Funds targeting Asia hit record $11.2 billion in 2022 - GPCA * SeaTown, Modulus, 21yield line up new Asia private cre...