CDC Group may invest in Veritas Finance
Mumbai: CDC Group Plc, the UK government’s development finance institution, is in advanced talks to invest over Rs100 crore in Veritas Finance Pvt. Ltd, which lends to micro and small enterprises, said two people aware of the development. Chennaibased Veritas was registered as a non-banking financial company (NBFC) by the Reserve Bank of India in October 2015. In December, Mint reported that Veritas was in the market to raise funds.
The company started with an initial capital of Rs13.60 crore and raised additional equity of Rs30 crore from Lok Capital and others, including Caspian Impact Investment Adviser, in a series A round of fund-raising in 2016. PAGE 3