Tavasya SSF Secures Initial Close of 200 Crore Scheme for Distressed Assets
Tavasya SSF, a Category 1 Special Situations Fund, announces the initial close of its 200 Crore Tavasya Mudrikaran Scheme II. Co-founders Shivani Singla and Navneet Garg plan to invest in distressed assets alongside Asset Reconstruction Companies, attracting commitments from domestic family offices and HNIs.
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- Country:
- India
New Delhi [India], January 30: Tavasya SSF, a Category 1 Special Situations Fund, has announced the successful initial closing of its second financial scheme, "Tavasya Mudrikaran Scheme II." This fund, launched on January 1, 2025, boasts a substantial size of Rs. 200 Crores.
The fund is under the aegis of Tavasya SSF, a Category I Alternative Investment Fund, set up by Ms. Shivani Singla and Mr. Navneet Garg in late 2023. The venture comes following the first scheme, which saw a fund size of Rs. 400 Crores. Both founders bring expertise from the international markets and India's distressed assets field.
Tavasya Mudrikaran Scheme II's strategy involves collaborating with leading Asset Reconstruction Companies to acquire debts from distressed firms. This approach appeals to seasoned investors, evident from the commitments secured from domestic family offices and high-net-worth individuals. Founders highlighted the growing interest tied to the perceived increased certainty in outcomes within India's distressed assets sector.
(With inputs from agencies.)