The need for an AAA practice is dictated primarily by corporate clients seeking capital solutions beyond plain-vanilla equity. Often encompassing funding ideas that fall in the domain between debt and equity, AAA gets structural flexibility to the equation.
Funds
Spark Midas Investment Fund – I (SMIF-I)
Spark Midas Investment Fund – I (SMIF-I) is a SEBI-registered Category-II Alternative Investment Fund (AIF), sponsored by Spark Financial Holdings Private Limited. Its investment philosophy would entail a focus on near- IPO equity opportunities, predominantly in the mid-market segment.
SpECS Fund I
SpECS Fund I has a registered license with SEBI as an AIF Category II Alternative Investment Fund (AIF), co-sponsored by Spark Capital and ET Advisors. With a targeted fund raise of over USD 60 Mn from HNIs Family Offices, Corporates and Institutions alike, SpECS Fund I had its first closing in April 2019 at just under Rs. 120 cr. The investment philosophy at SpECS Fund I would entail a focus on providing small ticket, medium-tenor structured credit solutions to mid-market corporates in India.
philosophy
At Spark Capital, Alternative Asset Management is created as a fiduciary practice to manage
third-party funds across specific schemes with varying themes. The extent of serious
commitment to this practice is evidenced by Spark Capital having two of its co-founders
directly involved in the effort.
While incorporated as a 100 % subsidiary of Spark
Capital, with an arms-length relationship, the Alternative Asset Management business seeks
to leverage-off the parent’s credibility and deal making heritage. The SpECS Fund and SMIF
are first of such scheme offerings from the Alternative Asset Management’s table.
STATUTORY INFORMATION
Spark Equitized Credit Solutions Fund 1 (SpECS Fund I) holds a SEBI Registration Number – IN/AIF2/18-19/0639
Spark Midas Investment Fund – I (SMIF-I) is a SEBI-registered Category-II Alternative Investment Fund (AIF) and holds a SEBI Registration no: IN/AIF2/23-24/1470