As part of its diversification strategy, private equity fund manager Nisus Finance has forayed into the venture debt space by backing a Bengaluru-based start-up ClayWorks Spaces Technologies Pvt. Ltd.
The investment is part of Nisus Finance’s strategy to back high-growth start-ups and early-stage firms through its new NBFC -- Nisus Fincorp. The initial commitment of $2,50,000 will be used to operationalize ClayWorks’ new boutique shared office space at MG Road in Bengaluru and expanding into two new centers.
Commenting on the investment, Amit Goenka, MD & CEO of Nisus Finance stated, “It is our endeavor to support enterprises with strong management, fantastic execution skills, and a clear business plan; to meet their order book requirements and bridge their cash flow mismatches through our capital engagement.”
ClayWorks Spaces Technologies is a fast growing firm in the office solution space, which has seen rapid expansion in metro locations. It opened the first center comprising 90 seats at JP Nagar, which reached 100% capacity within the first three months. Its second center also attained 50% capacity in the first week of opening.
Moreover, the JP Nagar Centre of ClayWorks was awarded ET SmartGreen Awards for its architectural design and elements.
Nisus Finance recently invested about $4.5mn in RDP Developers’ Mera Ghar project at Shilphata, Thane, focused on mid-income dwelling units under Rs35lakh. Nisus Fincorp’s foray into venture debt has seen the growth of mezzanine capital into the new venture and start-up space. InnoVen Capital, Alteria Capital, Trifecta Capital, Unicorn India Ventures, IntelleGrow, and IvyCap Ventures are cumulatively looking to deploy about Rs2,000cr in venture debt.
Nisus Finance is an asset management and advisory firm that runs a Rs350cr SEBI AIF Fund offering mezzanine finance for mid-market residential developments.