CDC Group may in­vest in Ver­i­tas Fi­nance

Mint ST - - THE BRIEFING -

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

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