SCPE commits $50m to India's IFMR, LeapFrog to part exit

The investment will be made in multiple tranches, with the first tranche of $17 million already committed. IFMR will use the capital to create new products, expand its client base and enter new sectors, including financial technology and education finance.

Established in 2008, IFMR connects lenders in existing and emerging debt capital markets to other Indian NBFCs that operate across various industries, promoting its experience and understanding of these sectors as a way to mitigate the risk of supporting such specialized institutions. Its total loan book stands at more than INR300 billion ($4.5 billion), across over 100 NBFCs. It claimed revenue of INR2.5 billion and profit of INR600 million last year.

This round represents the second exit for LeapFrog from IFMR in as many months, following a $25 million investment in November by Eight Roads Ventures India. The firm first invested in IFMR in 2014, committing $29 million for a minority stake, and then participated in a $25 million investment the following year alongside Accion International and Lok Capital.

SCPE's India investments include Prime Focus, a publicly listed company that provides creative and technical services to the visual entertainment industry. The GP first invested in Prime Focus in 2012, paying INR1.9 billion for a 12% stake, and increased its holding to 22% last year after investing another INR1.5 billion. SCPE has also backed drinks manufacturer and bottler Varun Beverages and restaurant chain Café Coffee Day, both of which are preparing for IPOs.

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• Topics
• South Asia
• Financials
• Expansion
• India
• Standard Chartered Private Equity
• NBFCs
• Growth capital