Vivriti Asset Management, a credit investment strategies platform, has secured an additional $20 million in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB).
The latest fund infusion from OeEB takes total commitments in VIRAF to $165 million, bringing it closer to its targeted corpus of $250 million.
Launched in March 2023, at GIFT City, India’s international financial services centre, VIRAF is a first-of-a-kind asset-backed securitization (ABS) fund in India. VIRAF has been set up to scale investments in small-ticket loans to micro and small enterprises (MSEs), as well as individuals with a focus on women entrepreneurs.
As of March 2025, VIRAF has scaled its AUM to ~$140 million. Since its inception, VIRAF has disbursed $200 million+, supporting 25 NBFCs. These loans have reached over 350,000+ individuals and over 100,000+ MSME borrowers, and of those, over 75% are women. Over a ten-year period, VAM aims to cumulatively invest over $1 billion in retail ABS.
Vineet Sukumar, Founder & Managing Director, Vivriti Asset Management, said, “We are proud to welcome OeEB to the VIRAF platform. Their investment is a powerful endorsement of our approach to building resilient, scalable and impact-driven fixed-income strategies in India. OeEB’s capital will directly strengthen our ability to extend funding to high-quality financial institutions that are empowering women and small businesses across India. At VAM, we continue to innovate in structured credit to bridge the country’s credit gap while delivering risk-adjusted returns to investors.”
Sabine Gaber, Member of the Executive Board, Development Bank of Austria (OeEB), said, “Promoting small and medium-sized enterprises and financial inclusion as well as gender equality are among the focus areas of our strategy 2024-2028. Therefore, we are very pleased to provide additional financing for VIRAF and look forward to contributing to India’s inclusive economic growth. Thank you to Vivriti Asset Management and my colleagues involved in the deal.”
