InCred Growth Partners Fund I

Overview

InCred Growth Partners Fund I (IGPF-I) is a private equity fund established by InCred Alternative Investments Private Limited, a subsidiary of InCred Capital Financial Services Limited. The fund focuses on investing in high-quality, privately owned companies in India, aiming to generate alpha by taking concentrated positions in 8-9 companies. IGPF-I closed with commitments exceeding INR 575 crore, surpassing its original target of INR 500 crore, with backing from large family offices, ultra-high-net-worth individuals (UHNIs), and high-net-worth individuals (HNIs). The fund's investment strategy centers on two main themes: Established and Emerging. The Established theme includes sectors such as Consumer, Financial Services, and Enterprise, while the Emerging theme focuses on Niche Manufacturing, Technology, and Energy. IGPF-I seeks to invest in companies that are market leaders or top three in their category, possess strong competitive advantages, demonstrate profitability with limited need for further capital, and have the potential for an initial public offering (IPO) within 2-4 years. Since its inception, IGPF-I has made investments in several high-growth companies, including Manjushree Technopack, Shadowfax, Niva Bupa, and Purplle. Notably, Niva Bupa was successfully listed in November 2024, marking an early win for the fund. The fund is led by Vivek Singla, Managing Partner and Chief Investment Officer – Private Equity at InCred Alternatives, who brings over 20 years of investment management experience across private and public equity markets. Under his leadership, IGPF-I continues to identify and partner with high-quality businesses in India, supporting ambitious entrepreneurs in their growth journey.

Investment Focus

• High-quality, privately owned companies in India
• Market leaders or top three in their category
• Strong competitive advantages
• Demonstrated profitability
• Potential for IPO within 2-4 years

Portfolio Companies