VentureSoul Partners launches Rs 600 Cr debt fund

VentureSoul Partners, a venture debt firm, has launched its maiden Rs 600-crore fund and received commitments from corporates and CXOs.

Pharmaceutical company Micro Labs is the anchor investor for the firm's maiden fund. The CXOs participating in the fund include E Madhusudan, Founder of Kreditbee; Abhishek Khemka of Baazar Kolkata; and Ponnuswami M from Pure Chemicals group.

VentureSoul Partners was founded by three former bankers from HSBC, Anurag Tripathi, Ashish Gala, and Kunal Wadhwa.

According to a statement, this SEBI registered Category II alternative investment fund is aiming to do its first close soon and will invest in companies with a demonstrated revenue model, at the Series A stage or beyond.

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VentureSoul Partners is a sector-agnostic fund but will lean towards startups in the fintech, B2C, B2B, and SaaS segments.

VentureSoul aims to differentiate itself through a blend of banking principles with new-age credit evaluation technology with a focus on tailormade solutions while being a long-term partner. The firm says it will focus on delivering differentiated debt solutions to companies from the new economy.

VentureSoul Partners will provide growth capital for the startups.

A recent report by Stride Ventures said venture debt investments into Indian startups saw a 50% increase in 2023 to touch $1.2 billion. The report noted that 2023 saw around 175-190 deals, reflecting a compounded annual growth rate of about 34% from 2017 to 2023.