Spark Capital is pleased to announce the successful closure of a ₹2,000 Mn equity round, (through primary issuance of shares) in Vivriti Capital Private Limited (“Vivriti” or the “Company”), from Creation Investments.
Spark Capital acted as the exclusive financial advisor to the Company for the transaction.
With this deal, Spark continues to maintain its leadership position in the BFSI space having consummated 36 transactions aggregating to ₹150 Bn in value across various sub-segments of the BFSI space.
Mr. Gaurav Kumar, Founder, Vivriti, on the successful closure of the transaction, commented, “We have had a great experience partnering with the Creation team. We wanted to have an institutional partner who understands the financial services space and bring in both capital as well as experience on the board. The current capital raise will be used for lending, as well as investment in our technology platform. We have seen unprecedented support from clients and investors on our platform, which has resulted in achieving such scale.
We would like to thank the entire team of Spark for their advice and engagement on our capital raise, the team has excellent understanding of the financial services space and it stood out throughout the deal cycle.”
Mr. Vineet Sukumar, Founder, Vivriti said, “The capital raise has come at a very opportune time, with the markets quite disjointed at present and showing significant promise. With our deep expertise in credit assessment, Vivriti Capital is in a pole position to build market leadership. Given the Creation team’s long and multi-country financial services experience, they will be an outstanding partner for our next phase of growth.
The capital raise process was extremely well executed by Spark, given the team’s vast domain experience. Sincere thanks to the team and best wishes for a great year ahead!”
Mr. Ken Vander Weele, Co-Founder and Partner, Creation Investments said, “Creation Investments is delighted to become the first institutional investor in Vivriti Capital. The founders have done an excellent job of building a fantastic platform with a fee-based capital markets business over the past 18 months. We look forward to helping Vivriti with scaling up their own balance sheet and their on-line platform. We expect that Vivriti will be an incredible platform for multitudes of NBFCs, Corporates and Investors over the next few decades.”
Mr. Abhijit Chiripal, Director, Financial Services at Spark Capital, on the successful closure of the transaction, commented, “Vivriti has had an extraordinary first year in terms of business volumes, building a formidable team and delivering unique structures to clients daily amidst uncertainty. Their series A remains one of the largest among NBFCs not to mention in the marketplace segment for institutional participation. We wish the team the very best in their journey ahead.”
About Vivriti Capital:
Established in 2017, Vivriti Capital, a registered NBFC, was set up with the objective of creating the largest and most valuable market place for financial services, serving a client base of financial institutions, corporates, small enterprises, and individuals that lack efficient access to financial services. In the last 18 months of operations, Vivriti has facilitated more than ₹100 Bn through the first-of-its-kind marketplace for institutional debt, has on-boarded 150+ clients and 120+ investors across segments. More information on Vivriti can be found at www.vivriticapital.com
About Spark Capital:
Spark Capital is among India’s leading mid-market investment banks, providing a full suite of services encompassing Investment Banking, Institutional Equities, Wealth Management, Structured Finance & Debt Syndication. Spark’s Investment Banking business has successfully consummated a total transaction value of USD 6 Bn+ since inception; Spark Capital’s Institutional Equities division covers 230+ stocks under research and enjoys empanelment with over 200 institutional clients across FIIs, DIIs and Family offices. Spark has offices in Chennai, Bengaluru and Mumbai. Further information is available at www.sparkcapital.in