With a target corpus of Rs 600 crore ($72 million), venture debt firm VentureSoul Partners has introduced VentureSoul Capital Fund I, its inaugural debt fund.
High-net-worth individuals (HNIs), corporates, family offices, and other notable investors have committed to the fund, which is a Category II AIF registered with SEBI.
The firm’s initial fund’s anchor investor is the pharmaceutical company Micro Labs. The CXOs taking part in the fund are Ponnuswami M from Pure Chemicals group, Abhishek Khemka of Baazar Kolkata, and E Madhusudan, the founder of Kreditbee.
Although Anurag Tripathi, Ashish Gala, and Kunal Wadhwa founded VentureSoul Partners, the fund is not sector-specific and has a preference for fintech, B2C, B2B, and SaaS startups.
The fund will give the startups growth capital. It will invest in businesses with a proven revenue model, whether they are in Series A or beyond, and plans to close its first deal shortly.
