Vivriti India Retail Assets Fund - Series II (VIRAF II)
Type: Cat II Close-ended
Status: Raising Funds
Highlight:
Series II of the retail assets strategy, investing primarily in rated Pass-Through Certificates (PTCs) backed by granular pools of retail loans across asset classes.
Fund Rating: ICRA AA+(SO)
Fund Size: ₹400 Cr + ₹300 Cr Green-shoe option
Fund Overview
VIRAF II is Vivriti Asset Management’s second retail assets fund, designed to offer quality fixed-income exposure, potential monthly cash flows and diversification beyond traditional debt investments. The Fund is rated ICRA AA+(SO).
Building on the proven track record of VIRAF I, the Fund leverages Vivriti’s expertise in the RBI-regulated securitisation market, disciplined credit selection and robust risk management to target attractive risk-adjusted returns.
Investment Strategy
01
Portfolio allocation
The Fund invests primarily in rated pass-through certificates (PTCs) backed by granular pools of retail loans across asset classes.
02
Minimum rating
All portfolio investments are required to be rated A-/A-(SO) and above.
03
Eligible Asset Classes
Vehicle Loans, Consumer Loans/Personal Loans, Microfinance (MFI), MSME loans, Education Loans and all other retail loan categories.
Frequently Asked Questions
What are Pass-Through Certificates (PTCs)?
PTCs are fixed-income instruments backed by diversified pools of loans. Cash flows are generated from repayments by multiple underlying borrowers rather than relying on a single corporate borrower.
How does VIRAF II manage investment risk?
The Fund follows a disciplined investment approach involving detailed loan-pool screening, minimum credit-rating requirements, diversification, credit enhancement and ongoing monitoring of underlying loan performance. These measures help manage investment risks but do not eliminate them.
What is the tenure of VIRAF II?
The Fund has a tenure of 3.5 years (42 months) from its initial close. The Fund achieved its initial close in June 2026.
What is the minimum investment amount?
The minimum investment commitment is ₹1 crore.
Talk to our team
Contact our team to learn more about VIRAF II and its investment strategy.
Talk to our team