Vivriti Asset Management Raises $20 Mn From European Institutional Investor

Private credit fund manager Vivriti Asset Management, a subsidiary of mid-market lender Vivriti Capital, has raised an additional $20 million in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB).

OeEB's latest investment brings VIRAF's total funding to $165 million, getting it closer to its $250 million goal.

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“Development Bank of Austria’s capital will directly strengthen our ability to extend funding to high-quality financial institutions that are empowering women and small businesses across India,” said Vineet Sukumar, founder & managing Director at Vivriti Asset Management.

“We continue to innovate in structured credit to bridge the country’s credit gap while delivering risk-adjusted returns to investors,” he added.

Meanwhile, Sabine Gaber, member of the executive board at Development Bank of Austria, said: “Promoting small and medium-sized enterprises and financial inclusion as well as gender equality are among the focus areas of our strategy 2024-2028.”

Launched in March 2023, VIRAF is India’s first asset-backed securitization (ABS) fund. It was created to improve access to small loans for micro and small businesses, especially those run by women. 

The fund invests in securities backed by retail and MSME loans, helping NBFCs and financial institutions that serve underserved communities.

By March 2025, VIRAF had built assets worth $140 million and disbursed $200 million through 25 NBFCs. 

It has supported over 350,000 individuals and 100,000 MSMEs — with more than 75% being women. Over the next 10 years, its manager, VAM, plans to invest over $1 billion in retail ABS.

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