Vivriti Asset Management Pvt. has launched a new fund for investing in small and medium-sized companies.

Vivriti Asset Management, based in Chennai, is raising US$250 million for its 'Vivriti India Retail Assets Fund.' The fund aims to support non-bank financial companies and microfinanciers in sectors like SME financing, commercial vehicle lending, two-wheeler funding, and microfinancing. Loans from these entities will be sold to a special-purpose vehicle, which will issue securities backed by loan receivables and raise funds from Vivriti's credit fund. So far, the fund has secured US$106 million from International Finance Corp. and M&G Investments. 

Vivriti Asset was founded in 2019 and focuses on providing debt financing to domestic mid-market companies. The latest fund launch is its eighth in the private credit space.