- New commitments bring total fund size close to USD 165 Mn
- The fund has deployed USD 200 Mn+, reaching over 260,055 women borrowers in India
Mumbai, May 19, 2025: Vivriti Asset Management, a pioneer in Performing Credit investment strategies, has secured an additional USD 20 Mn in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB). OeEB is known for supporting impact investments in developing countries by financing private sector projects that foster sustainable economic growth, particularly in green finance, SME development, and financial inclusion.
The latest fund infusion from OeEB takes total commitments in VIRAF to USD 165 Mn, bringing it closer to its targeted corpus of USD 250 Mn. Launched in March 2023, at GIFT City, India’s international financial services centre, VIRAF is a first-of-a-kind asset-backed securitization (ABS) fund in India. VIRAF has been set up with the objective of scaling investments in small ticket loans to micro and small enterprises (MSEs), as well as individuals with a focus on women entrepreneurs.
As of March 2025, VIRAF has scaled its AUM to ~USD 140 Mn. Since its inception VIRAF has disbursed USD 200 Mn+, supporting 25 NBFCs. These loans have reached over 350,000+ individuals and over 100,000+ MSME borrowers, and of those, over 75 per cent are women. Over a ten-year period, VAM aims to cumulatively invest over USD 1 Bn in retail ABS.
Vineet Sukumar, Founder & Managing Director, Vivriti Asset Management, stated, that “We are proud to welcome OeEB to the VIRAF platform. Their investment is a powerful endorsement of our approach to building resilient, scalable and impact-driven fixed-income strategies in India. OeEB’s capital will directly strengthen our ability to extend funding to high-quality financial institutions that are empowering women and small businesses across India. At VAM, we continue to innovate in structured credit to bridge the country’s credit gap while delivering risk-adjusted returns to investors.”
Sabine Gaber, Member of the Executive Board, Development Bank of Austria (OeEB), stated that “Promoting small and medium-sized enterprises and financial inclusion as well as gender equality are among the focus areas of our strategy 2024-2028. Therefore, we are very pleased to provide additional financing for VIRAF and look forward to contributing to India’s inclusive economic growth. Thank you to Vivriti Asset Management and my colleagues involved in the deal.”
With this commitment, OeEB joins marquee investors such as British International Investment (BII), Calvert Impact, M&G Catalyst, and International Finance Corporation (IFC) that are aligned with the fund’s mission to promote equitable economic opportunities through capital markets solutions. The fund’s investments directly advance Vivriti’s mission to drive inclusive economic growth, with a strong alignment to UN SDGs, specifically SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), and SDG 10 (Reduced Inequalities).
VIRAF focuses on investing in asset-backed securities that are backed by granular retail and MSME loans, thereby supporting NBFCs and other financial institutions serving underserved borrower segments.
India’s 63 million micro, small and medium enterprises (MSMEs) contribute up to 30 per cent of the country’s GDP, generate over 40 per cent of exports, and create employment for over 100 million people. IFC study estimates the MSME finance gap in India is USD 342 Bn, with MSEs accounting for 95 per cent of that gap.
About VAM
Vivriti Asset Management (VAM) is a Private Credit asset manager, seeking to deepen India’s fixed income and ABS markets. With commitments of c.US$660 million across 8 funds, VAM manages sector-agnostic funds that have invested across infrastructure, energy, logistics, financials, Saas and services businesses.
Vivriti Asset Management Private Limited (IFSC branch) is registered with International Financial Services Centres Authority (IFSCA) as a Registered FME (Non-Retail) and the Investment Manager for Vivriti Fixed Income Fund – Series 3 IFSC LLP (trade name of Vivriti India Retail Assets Fund). VIRAF is a restricted scheme (non-retail) under the IFSCA (Fund Management) Regulations, 2022, with a 10-year fund tenure.
About OeEB
Oesterreichische Entwicklungsbank AG (OeEB) has been operating as the Development Bank of Austria since March 2008. It specialises in the provision of long-term finance for the implementation of private sector projects in developing countries which create sustainable development. Additionally, OeEB provides technical assistance, which can be used to enhance the developmental impact of projects.
For more information, please visit http://www.oe-eb.at
For more information, visit www.vivritiamc.com
Media contacts:
VAM: Resham Chhabra, resham.chhabra@vivriticapital.com