In a bid to support medium and micro enterprises in India, impact investor and philanthropic organization, Michael and Susan Dell Foundation partners with one of India’s foremost credit-focused asset managers, Vivriti Asset Management (VAM). Michel and Dell Foundation has invested US $3 million to catalyze commercial capital for the cause via VAM’s Samarth Bond Fund, a SEBI registered Category II AIF (Alternative Investment Fund).
The fund has already deployed over US $30 million towards financing the livelihood of over 25,000 women micro-entrepreneurs, business needs of over 2,000 MSMEs, and commuter vehicles for over 18,000 households in rural areas. Through this financing, the fund aims to further 7 of the 17 UN Sustainable Development Goals (SDGs).
Vineet Sukumar, CEO, and founder, Vivriti Asset Management, said: “Our team’s expertise backed by technology and data analytics helps us create customized financial solutions for enterprises while delivering on risk-adjusted return and measurable impact matrices to investors. We are pleased to partner with Michael & Susan Dell Foundation, given our alignment with their core values of Impact, Scale, and Sustainability. Samarth Bond Fund will invest in last-mile lenders that focus on extending capital to micro-entrepreneurs and low-income households to help unlock significant growth potential.”
Geeta Goel, Country Director, Michael & Susan Dell Foundation, India, said: “We are excited to support Samarth Bond Fund in catalyzing credit for micro-enterprises, micro-entrepreneurs, and low-income households. Over 60 million micro-enterprises in India are a major source of employment in India. These enterprises come under a lot of pressure when lock-downs triggered by COVID-19 are imposed. As they pivot business models or try and revive their businesses, access to credit is critical. Instruments like the Samarth Bond Fund can play an enabling role in extending credit to micro-enterprises, thereby enabling them to get back on their feet.”
Launched in February 2020, the company’s Samarth Bond Fund is India’s first Alternative Investment Fund (AIF) to be rated CRISIL AA+ (SO), for capital protection to investors. The fund’s total corpus of INR 265 crores has been directly raised from marquee investors including banks, corporate treasuries, institutions, and global impact foundations.
Vivriti Asset Management leverages Vivriti Group’s technology capability on sourcing, assessment and monitoring, to deliver commercially attractive impact investment solutions to international investors. Vivriti’s funds focus in the performing credit space; space where along with providing inflation-beating returns to investors has the potential to positively impact millions of livelihoods.
Categories: Venture Capital