Ravi Chachra to raise $90 million for Alternative Investment Fund

7 Nov 2022 , 01:50 PM

An alternative investment fund (AIF) is being established in India by a Mumbai-based venture debt marketplace, which is also building an office in Singapore. The fund will raise $90 million to fund 100 businesses across 10 countries.

Ravi Chachra, the creator of 8vdx, who is based in Mumbai, stated on the side-lines of the Singapore Fintech Festival to ET, "The AIF, a private equity fund in India, would attract money from Indian investors for the Indian companies."

The serial entrepreneur and seasoned financial investor with a focus on credit, Chachra, said, "We have money from Indian investors and we are building up an Indian AIF, an equity fund.

The 15-person Mumbai team will grow to 40 members the following year, and 10 additional fundraising specialists will be hired for offices in Singapore, which will open the following year, as well as Delaware and California.

According to him, the company has already received $10 million, some of which came from tiny investors who were eager to put as little as $10,000 into start-ups.

In order to promote his early-stage funding approach to Singapore-based businesses and start-ups, Chachra claimed he was attending the fintech festival, which took place Nov. 2-4. This would enable start-ups to move forward with their products and develop a strategy for raising money.

He stated that 8vdx had already made US$1 million investments in six firms in India and another US$1 million in start-ups in Singapore.

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