07 May 2025
Hyderabad-based NBFC IKF Finance has upsized its ongoing funding round to Rs 800 crore, or $96 million, with existing institutional investors increasing their stakes, people familiar with the matter told Moneycontrol, following up to an earlier newsbreak.
It was previously reported that IKF was in talks to raise $70–80 million in fresh capital, with American private equity form Norwest Venture Partners joining in as a new investor. Sources now indicate that the round has been upsized to $96 million, with fresh capital coming from existing investors, promotor and founder VGK Prasad, along with Norwest.
The deal will see TIAA (Teachers Insurance and Annuity Association of America), Accion Digital Transformation Fund, Motilal Oswal Wealth, and India Business Excellence Fund IV (managed by Motilal Oswal Private Equity) top up their investments.
While the individual investor increases remain undisclosed, the existing institutional investors are collectively boosting their stakes to hold around 20–21% of the company post the fund raise.
Hyderabad-based NBFC IKF Finance has upsized its ongoing funding round to Rs 800 crore, or $96 million, with existing institutional investors increasing their stakes, people familiar with the matter told Moneycontrol, following up to an earlier newsbreak.
It was previously reported that IKF was in talks to raise $70–80 million in fresh capital, with American private equity form Norwest Venture Partners joining in as a new investor. Sources now indicate that the round has been upsized to $96 million, with fresh capital coming from existing investors, promotor and founder VGK Prasad, along with Norwest.
The deal will see TIAA (Teachers Insurance and Annuity Association of America), Accion Digital Transformation Fund, Motilal Oswal Wealth, and India Business Excellence Fund IV (managed by Motilal Oswal Private Equity) top up their investments.
While the individual investor increases remain undisclosed, the existing institutional investors are collectively boosting their stakes to hold around 20–21% of the company post the fund raise.
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