Venture capital firm Trifecta Capital marked the final close of its third venture debt fund, Trifecta Venture Debt Fund III, at Rs 1,777 crore. The fund was oversubscribed, surpassing the initial target of Rs 1,500 crore. The first close of the fund took place in November 2021.
With a provision for capital recycling, the fund will have an investible corpus of up to Rs 4,440 crore. During an interview with a media firm, Rahul Khanna, Co-founder and Managing Partner, said that Trifecta Capital now has a dry powder of Rs 3,000 crore.
The company has invested Rs 1,500 crore in more than 50 startups. Some of the startups that have received funding include Zepto, The Good Glamm Group, Kissht, Rebel Foods, Cashfree Payments, Bira, Infra.Market, Udaan, Arzooo Globalbees and Eatfit.
Trifecta claims that the portfolio startups have achieved an average annual revenue growth rate of 60 per cent.
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