New Delhi, Nov. 28 -- VentureSoul Partners has hit the base target of its maiden venture debt fund that it launched in June last year even as it has backed more than a dozen companies so far from the investment vehicle.

The firm said in a statement Friday that the debut fund's base target of Rs 300 crore ($33.5 million) has been fully subscribed, triggering the greenshoe option. The fund has a greenshoe option of an equal additional amount.

The SEBI-registered Category II alternative investment fund, which offers structured credit solutions for "new-economy" companies, is eyeing the final close by February 2026, the Mumbai-based firm said.

The announcement comes after VentureSoul co-founder and managing partner Anurag Tripathi told VCCircle in May that the fund could reach the base target by September and make the final close by the end of the financial year.

VentureSoil says it intends to build a portfolio of companies which focus on India's consumer story, the growing middle class and the country's young demography. Since October 2024, the venture debt investor has made 15 investments in companies across telecommunications, e-commerce platforms, and financial services sectors, among others. The fund's average ticket size will be in the range of Rs 15 crore to Rs 20 crore.

VentureSoul was formed last year by three former bankers with decades of experience-Anurag Tripathi, Ashish Gala, and Kunal Wadhwa. The trio's last stint before launching VentureSoul was at HSBC, where they held various positions such as in structured financing, new economy, and SME lending.

VentureSoul marked the first close of the debt vehicle at Rs 150 crore in September last year. The fund is anchored by healthcare major Micro Labs and has received commitments from corporate backers such as Rupa Group, Glen Appliances Ltd, and PSN Group. Individual investors include Kreditbee founder E Madhusudan, Perfios executive Omkar Shirhatti, and the promoters of SKM Steels and Zebronics Group.

Its recent bets include Branch International, an RBI-registered non-bank lender and the India subsidiary of Branch International; learning platform SpeEdLabs, and supply chain services provider Celcius Logistics.

Published by HT Digital Content Services with permission from VC Circle.