Up to $25 million will be invested in Trifecta Capital’s fourth venture debt fund by the International Finance Corporation (IFC), the private sector division of the World Bank Group.
With an emphasis on industries like electric vehicles (EVs), financial services, climate technology, artificial intelligence (AI) infrastructure, manufacturing technology, and agritech, the fund offers debt financing to startups at the Series A stage and beyond. Additionally, it intends to grow into the consumer, healthcare, and education sectors.
The IFC claims that this action is consistent with its strategy to mobilize private capital, encourage digital innovation, and support job-creating private sector-led development. With a stronger emphasis on state-level involvement, it intends to double its yearly commitments in India to $10 billion by 2030.
With the goal of raising up to Rs 2,000 crore, including a Rs 500 crore greenshoe option, Trifecta Capital launched its fourth fund.
Founded in 2015 by Rahul Khanna and Nilesh Kothari, Trifecta Capital has invested approximately Rs 8,700 crore, including recycling, in over 220 companies and raised Rs 5,400 crore through four venture debt funds and one growth equity fund. The company has invested in more than 30 unicorns, such as Urban Company, Zepto, and Meesho.
“Providing more funding options to innovative startups, including flexible, cost-effective mechanisms like venture debt, is essential for India’s economic growth and job creation,” said Farid Fezoua, IFC global director for disruptive technologies, services and funds.
