New Delhi, Sept. 14 -- Satin Growth Alternatives Ltd, the alternative investment subsidiary of Satin Creditcare Network Ltd (SCNL), has made its first investment through its Category-II alternative investment fund (AIF).
The fund has invested Rs 5 crore (around $522,733) in Indic Wisdom, a manufacturer and distributor of traditionally crafted food products, including wood-pressed oils and value-added products derived from native Indian oilseeds, according to an exchange filing.
The investment comprised a combination of non-convertible debentures (NCDs) and compulsorily convertible preference shares (CCPS).
Indic Wisdom will use the funds to scale up manufacturing capacity, expand its offline distribution network and increase revenue over the next two years, the filing said.
"The NCD and CCPS structure gives us downside protection while allowing us to participate in the company's equity upside as it scales manufacturing and deepens its offline footprint," Shivika Sethi, fund manager and partner at Satin Growth Alternatives, said in the filing.
"We have already outlined a plan to leverage SCNL's branch network to drive Indic Wisdom's pan-India distribution expansion and accelerate topline growth," Sethi added.
Satin Growth Alternatives marked the first close of its women-led AIF in August, achieved within four-and-a-half months of receiving Securities and Exchange Board of India (SEBI) registration. The fund's investment strategy includes growth capital, working capital financing and structured capex.
The fund has received commitments from a diversified group of high-net-worth individuals (HNIs) and institutional investors, including Blueboard, Paisalo, and Nupur Recyclers.
Satin Creditcare's microfinance operations are based on the Grameen Bank joint liability group (JLG) model and are spread across 1,841 branches. Its housing finance arm, Satin Housing Finance, provides home loans as well as loans to micro, small and medium-sized enterprises (MSMEs).
The company's consolidated assets under management (AUM) rose 27% year-on-year to Rs 15,935 crore as of March 31, 2026, it said.
Published by HT Digital Content Services with permission from VC Circle.