InCred Asset Management announced a Rs 300 crore fundraising from large family offices and high-net-worth individuals for its first credit fund, InCred Credit Opportunities Fund I (ICOF-I), with a Rs 500 crore target fund size.
The first alternative product from InCred, ICOF-I, will give financial institutions and emerging corporations flexible secured loan financing.
300 crore rupees have been raised in the first closing. The final closing will take place in 12 months, by which time we should be comfortably over the Rs 500 crore level.
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