Northern Arc Capital (formerly IFMR Capital) has raised Rs.910 crore from IIFL Special Opportunities Fund & its Series managed by IIFL Asset Management Limited, SCPE (Standard Chartered Private Equity) and Affirma Capital, a newly formed, independent private equity firm to be managed by the team at SCPE. With this round of funding, the total equity raised by Northern Arc stands at Rs.1,400 crore. Northern Arc is a debt capital platform for financial institutions serving excluded individuals and businesses. The fresh round of investment will help the company address the debt needs of a growing client base across sectors, including new-age financial institutions in sectors such as consumer finance and fintech. It will enable the firm to increase exposure to existing sectors, deepen client relationships and bolster product innovation. The transaction comes at an opportune time for Northern Arc and its clients, including the many NBFCs working at furthering financial inclusion.

(Business Standard)