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Private Equity
aif.ifmr.co.in

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Investments

1

Funds

2

About IFMR Investments

IFMR Investment Managers focuses on providing investment management services in asset classes that impact the financially excluded.

IFMR Investments Headquarter Location

IIT-Madras Research Park, Taramani 10th Floor, Phase 1

Chennai, 600113,

India

91 44 6668 7000

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Latest IFMR Investments News

Northern Arc Investments marks first close of eighth debt fund

Mar 9, 2020

By SHARE Northern Arc Investment Managers Pvt. Ltd, the alternative investment arm of non-banking financial company Northern Arc Capital, has marked the first close of its new fund. The new fund - Northern Arc India Impact Fund – has marked its first close at $23 million (approximately Rs 170.29 crore at current exchange rates), Northern Arc said in a statement. The fund, which represents the overall Northern Arc platform’s eighth investment vehicle, is looking at a total corpus of $100 million, including a greenshoe option of $50 million. Investors who helped the fund make the first close include the Partners Group-backed PG Impact Investments, the Netherlands-based Anthos Fund & Asset Management, and the US-based Calvert Impact Capital. Northern Arc said the fund will have a five-year tenor, and that it is looking to make 15 to 20 investments within the next 18 months. Average ticket sizes for these deals will range between $3 million and $5 million, with a focus on sectors such as microfinance, small business finance, vehicle and agri-business finance. It will also invest in several types of debt instruments, including senior and subordinated debentures, and commercial papers. “Risk-adjusted credit spreads in the financial services space are very attractive and we are aiming to invest more than Rs 1,000 crore of long term capital to financial institutions over the near term, especially those focusing on the under-served and under-penetrated segments in India,” Ravi Vukkadala, CEO at Northern Arc Investments, said. Separately, Anthos Fund managing director Dimple Sahni said the fund would leverage Northern Arc’s networks across several sectors, adding that it would also help the asset management firm achieve its sustainable development goals. Northern Arc Investment Managers – formerly known as IFMR Investment Managers Pvt. Ltd, currently manages over Rs 1,800 crore across seven debt-focussed alternative investment funds (AIFs). Last month, VCCircle reported that the firm had returned money raised for one of its debt funds to its limited partners with higher-than-expected returns. Some of the other funds that are managed by Northern Arc Investment Managers include the IFMR FImpact Long Term Multi Asset Class Fund, the IFMR Long Term Credit Fund, and the IFMR FImpact Income Builder Fund. Its parent has also raised significant sums of capital in recent months. VCCircle in December last year reported that Northern Arc Capital received fresh capital from Japan’s Sumitomo Mitsui Banking Corporation (SMBC) and a couple of other private equity investors. In March that year, Northern Arc Capital said  it secured an investment of Rs 910 crore from a clutch of institutional investors, including IIFL Special Opportunities Fund, Standard Chartered Private Equity and Affirma Capital. That round also involved a partial stake sale by Northern Arc’s early investors Dvara Trust, LeapFrog Investments and Accion. The NBFC claims to have facilitated over $10 billion in financing to over 200 partner organisations since its inception in 2008.

IFMR Investments Investments

1 Investments

IFMR Investments has made 1 investments. Their latest investment was in Northern Arc Investments as part of their Other Investors on .

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IFMR Investments Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

Other Investors

Northern Arc Investments

Yes

Date

Round

Other Investors

Company

Northern Arc Investments

Amount

New?

Yes

Co-Investors

Sources

IFMR Investments Fund History

2 Fund Histories

IFMR Investments has 2 funds, including IFMR FImpact Medium Term Microfinance Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/10/2016

IFMR FImpact Medium Term Microfinance Fund

Restructuring/Distressed Debt

1

4/30/2016

IFMR FImpact Long Term Multi Asset Class Fund

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$99M

10

Closing Date

6/10/2016

4/30/2016

Fund

IFMR FImpact Medium Term Microfinance Fund

IFMR FImpact Long Term Multi Asset Class Fund

Fund Type

Restructuring/Distressed Debt

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Status

Amount

$99M

Sources

1

10

IFMR Investments Team

1 Team Member

IFMR Investments has 1 team member, including former Chief Executive Officer, Vineet Sukumar.

Name

Work History

Title

Status

Vineet Sukumar

Chief Executive Officer

Former

Name

Vineet Sukumar

Work History

Title

Chief Executive Officer

Status

Former

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