Source: Vivriti Asset Management
Vivriti Asset Management (VAM), which is focused on credit investment strategies, has received an additional $20 million in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from Development Bank of Austria (OeEB), moving it closer to a total of $250 million in commitments.
VIRAF is the first fund of its kind in India, a fund based on asset-backed securitization (ABS), which launched in March 2023. The fund seeks to fill a significant gap in financing for micro and small businesses, particularly women-led businesses. There is an important need for this kind of lending; many of India’s small businesses face problems raising traditional forms of financing and this is especially true for women-led businesses. VIRAF will be focused on investing in asset-backed securities which are backed by small loans made to retail and MSME (Micro, Small, and Medium Enterprises) borrowers.
As of March 2025, VIRAF has raised approximately $140 million in assets under its management (the fund has distributed $200 million since launch across 25 NBFCs). The funds have reached over 350,000 people, of which more than 100,000 are MSMEs and over 75% of these beneficiaries are women. The emphasis on women-led or women-benefiting businesses illustrates that gender equality is a vital consideration in international economic development.
VIRAF made great strides last week with the new investment from OeEB (the Development Bank of Austria). The investment brings the total committed in the fund to $165 million and closer to the fund target of $250 million. OeEB (the Development Bank of Austria) focuses on financing development and promoting sustainable economic growth, particularly in developing countries. OeEB lends primarily in three areas: green finance, SME Development and Financial Inclusion.
OeEB promotes impact investments in developing countries by funding private sector initiatives that drive sustainable economic growth, with a focus on green finance, SME development, and financial inclusion.
Vivriti Asset Management plans to invest $1 billion in retail ABS in the coming ten years. This target shows their commitment to making a sustainable impact on India’s financial ecosystem, with a view to improving capital access for small businesses
VAM and VIRAF serve as meaningful mechanisms of economic growth in India, and the entrepreneurial success stories (especially among women entrepreneurs) emergent throughout the country are awakened by their procured asset and secured support for MSME investment.
