Blue Earth Capital has completed a $16-million direct credit investment in India’s Samunnati. Separately, Neo Asset Management has closed its first Special Credit Opportunities Fund.
Blue Earth Capital provides $16m credit financing to Samunnati
Blue Earth Capital, a global impact investor, has made a $16-million direct credit investment into Indian agri enterprise Samunnati.
While agriculture financing and market access have improved substantially in recent years, finding adequate financing and suitable buyers remains challenging for smallholder farmers and participants in the agriculture sector.
The funding will enable Samunnati to expand its financial support to a wider network of farmer collectives and agricultural enterprises across India.
Blue Earth Capital is a global specialist impact investor headquartered in Switzerland, with operations in New York, London, and Konstanz. Asia makes up 31% of its $579-million total capital committed as of 2022, per its June 2023 report.
Its other investments in India include Aavishkaar Capital, AIG Hospitals, Lok Capital, Quadria Capital, Tata Capital Healthcare Fund, Northen Arc, etc.
Neo Asset raises $308m for Special Credit Opportunities Fund
Neo Asset Management has closed its first Special Credit Opportunities Fund, raising Rs 2,575 crore from high-net-worth individuals and family offices, The Economic Times reported.
The fund focuses on investing in non-triple-A-rated companies that are at least posting operating profits, targeting a gross internal rate of return (IRR) of 22-24% for its investors.
During the 15-month fundraising period, it made 12 investments and achieved two exits generating an IRR of over 23%. It is looking to make another 8-10 investments from this fund over the year.
Neo Asset Management is now raising a Rs 700-crore performing credit fund, launched two weeks back, the report added.
