Vivriti Asset Management which handles credit investment strategies, has received an extra $20 million fund in senior loans for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB).
The recent investment by OeEB increases VIRAF’s commitments to $165 million and brings it further towards its target of $250 million.
On March 1, 2023, the first ABS fund in the country, VIRAF, was introduced by the company. The goal is to provide more funds for microloans to businesses run by women. MicroMedsul provides support to NBFCs and similar businesses, as it mainly concentrates on funding asset-backed securities secured by detailed small retail and MSME loans.
Key Highlights:
- Vivriti Asset Management received an additional $20 million from OeEB, raising VIRAF’s total commitments to $165 million.
- VIRAF has supported over 350,000 individuals and 100,000 MSMEs, with over 75 percent of beneficiaries being women.
- VAM plans to invest over $1 billion in retail asset-backed securities over the next 10 years.
By March 2025, the amount of money VIRAF managed had increased to around $140 million. They have supported more than 350,000 individuals and 100,000 MSMEs with NBFCs, providing about $200 million of support and helping more than three-quarters to be women. VAM plans to invest over $1 billion in retail ABS during the next 10 years.
OeEB backs projects run by private businesses that support growth in environmentally friendly ways, aid the establishment of small and medium-sized businesses in other nations and promote access to finance.
