Trifecta Capital files for Rs 1,500 crore late-stage VC fund

Leading provider of venture debt Trifecta Capital said on Wednesday it is planning to launch a late-stage venture capital fund with a targeted corpus of Rs 1,500 crore.

Through the equity fund, the firm aims to invest in new economy compes that are category leaders and likely to pursue an IPO in the next one to three years.

Trifecta Capital has invested in over 70 compes across its two venture debt funds. Its portfolio now comprises of 9 unicorns and 11 soonicorns including Big Basket, Pharmeasy, Cars24, Vedantu, Infra.Market, ShareChat, Dailyhunt, UrbanCompany, CarDekho, Blackbuck, Ninjacart, NoBroker, Kreditbee, Dehaat, Turtlemint, Livspace and BharatPe.

All these compes are backed by marquee, global VC funds and have created substantial value in the digital economy. They have cumulatively raised 8.1 billion dollars of equity and are cumulatively valued at 20 billion dollars.

With the launch of Trifecta Leaders Fund I, the firm is extending its platform capabilities as a lifecycle capital provider to the startup ecosystem.Trifecta Leaders Fund I will invest in a targeted set of category leading startups, selected predominantly from Trifecta Capital's portfolio across its venture debt funds where the firm has proprietary knowledge of the businesses as well as a deep relationship with founders and investors.

The fund will invest 15 million to 30 million dollars each in around 10 compes for minority stakes through a combination of primary and secondary positions. The firm has already built a strong pipeline of 20 compes as potential portfolio candidates.

The fund is filling a structural gap in the late-stage VC ecosystem in India. In addition to primary infusions, it will cater to the unmet needs of late-stage compes by providing off-cycle liquidity to early investors, angels, current and former employees including consolidation of equity cap tables.

Since its inception, Trifecta Capital has deployed over Rs 2,000 crore and aims to be the financial partner of choice for leading new economy compes. It currently has offices in NCR, Bengaluru and Mumbai.

( With inputs from ANI )