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InCred Alternative Investments, part of InCred Group, has launched its first Category II alternative investment fund in the private equity sector—InCred Growth Partners Fund-I.

The fund seeks to invest up to Rs 500 crore in private companies in consumer, financial, technology and business services sectors, offering compelling private market opportunities to high networth individuals, family office and institutional investors.

InCred Growth Partners Fund-I (IGPF-I), led by Vivek Singla, plans to invest in companies at the Series B and C stages.

“The launch of our private equity strategy helps us complete the bouquet of alternate funds for our HNI, UHNI and institutional investor base. Our best-in-class alternative investment management team will enable us to provide access to unique investment opportunities in the public and the private markets,” said Bhupinder Singh, Founder and Group CEO of InCred.

“IGPF-I has been crafted to foster entrepreneurship, generate targeted returns for our investors, and bring together the founder and investor communities,” he added.

InCred’s third alternative strategy follows the successful launch of Structured Credit Fund and Liquid Quant Fund strategies over the past two years, said the company.

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InCred Group is a financial services group comprising three businesses: InCred Finance, an innovative credit-focused NBFC; InCred Capital, an integrated institutional, wealth and asset management platform; and InCred Money, a retail investment distribution vertical.

“I feel it is an opportune time to launch a private equity fund; private market valuations are at realistic levels and there’s been a stark shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all the costs’,” said Vivek Singla, Managing Partner and CIO, Private Equity, InCred Alternative Investments.

“The idea with our maiden private equity fund is to run a concentrated strategy and invest in no more than 7-9 companies where we have high conviction,” he added.