The funding shall be from the funds managed by Modulus Alternate options together with its second fund – India Credit score Alternatives Fund II, which Modulus Alternate options launched earlier this 12 months with a goal corpus of ₹1,250 crore.
The fund has to this point acquired capital commitments of greater than ₹200 crore, sources mentioned. Modulus Alternate options and Shivam Autotech didn’t reply to requests for remark.
The brand new fund will comply with the same funding technique as Modulus’ first fund and can put money into mid-sized corporations within the performing credit score house by a various vary of devices and techniques. As per a presentation to buyers, the brand new fund is a class II AIF and can comply with a sectoral funding sample with choice in the direction of consumption, healthcare, core economic system, manufacturing and industrial corporations.