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Wed, 3 Apr 2019 | The Hindu Business Line
The Hindu Business Line

Northern Arc raises ₹910 crore

Northern Arc Capital, a non-banking finance company, has raised about ₹910 crore ($130 million) from IIFL Special Opportunities Fund and its series managed by IIFL Asset Management Ltd, SCPE (Standard Chartered Private Equity) and Affirma Capital. With this, Northern Arc Capital has raised about ₹1,400 crore ($200 million) in equity. After this transaction, existing investors Dvara Trust, LeapFrog Investments and Accion will partially sell their stake in the company. Northern Arc, which facilitates the flow of debt capital to under-served sectors, will use the fresh capital to grow its existing business and pursue new opportunities.