Mumbai, Aug. 31 -- Spark Capital is expanding its private-market business with a Rs.1,500-crore late-stage private equity fund and a Rs.1,000-crore private credit fund, stepping up its focus on high-growth companies and their evolving capital requirements.

The two strategies-Midas Fund II and Spark Equitized Credit Solutions (SpECS) Fund III-underline the Chennai-based financial services group's growing focus on asset management beyond its established investment banking franchise.

The expansion is significant as companies increasingly seek capital beyond traditional venture funding and bank debt, creating an opportunity for investors that can provide both growth capital and structured credit.

Its private equity fund invests in late-sta...