New Delhi, Nov. 17 -- Creador, the South and Southeast Asia-focused private equity firm founded by former ChrysCapital partner Brahmal Vasudevan, has invested in Indian non-bank lender IKF Finance Ltd through a secondary transaction.
The PE firm has acquired a minority stake in IKF from existing investor Accion Digital Transformation Fund (ADTx) and its limited partners, it said in a statement on Monday. It didn't disclose any financial terms.
"Our investment underscores Creador's commitment to identifying and supporting high-quality businesses addressing the underpenetrated segments of India's financial services sector," said Robin Agarwal, executive director at Creador.
Founded in 1991 by VGK Prasad, IKF is currently led by second-generation women entrepreneurs K. Vasumathi Devi and Vasantha Lakshmi. It operates in nine states across India and manages a loan book of about Rs 7,500 crore.
Vasumathi, managing director at IKF, said Creador's "long-term, growth-oriented approach" and experience in helping financial services companies will be "invaluable" as the lender embarks on its next phase of expansion.
Creador's investment comes six months after private equity firm Motilal Oswal Alternates and multi-stage venture capital investor Norwest Venture Partners bet a total of Rs 1,465 crore on IKF Finance in a round that included a primary infusion as well as a secondary transaction.
IKF had secured Rs 255 crore in equity capital from Accion in 2023 and Rs 120 crore the impact investor's LPs in 2024, according to its annual report for 2024-25.
Published by HT Digital Content Services with permission from VC Circle.