The Vintage II funds, launched in 2022, raised more than ₹1,700 crore in investor commitments and deployed over ₹3,500 crore across more than 45 portfolio companies during their investment period.
The moderate-risk scheme generated a gross internal rate of return (IRR) of around 15%, while the conservative scheme, which invested only in portfolio companies rated in the ‘A’ category, delivered a gross IRR of around 12%, according to VAM.
After fees and expenses, returns aggregated across investors stood at around 13% for the moderate scheme and 10.5% for the conservative scheme, the asset manager said.
The funds invested across sectors including infrastructure, clean energy, manufacturing and services such as logistics, co-working, financial services and enterprise software.
VAM said the latest distributions take the total capital and income returned to investors across its two fund vintages to more than ₹3,400 crore.
The asset manager’s Vintage II investors included institutions such as insurance companies and alternative investment funds, as well as family offices and high-net-worth individuals.The fund’s investment strategy focused on providing credit to businesses through structures backed by cash flows and security, VAM said.