Boston-based India manager Venus Capital is looking to grow its Venus India Structured Finance Fund to $250 million in assets in the next 12 months. The almost two-year old strategy lends to small and medium-sized companies in India through a non-banking financial company (NBFC), which started in June 2013. The NBFC currently has $25 million in assets under management.
Vik Mehrotra, Venus Capital’s founder and CEO, said that the fund generates absolute returns uncorrelated to any indices and could reduce risk in investors’ portfolios. Under the fund, investors can participate in secured and unsecured lending with the objective of preserving capital and generating current annual yields in Indian rupee (INR) terms of 15-18% without equity kickers.