Caspian Debt, a provider of debt funds to startups and social enterprises, has disbursed loans ranging from Rs 50 lakh to Rs 5 crore and expanded its portfolio, adding 9 new SMEs from sectors such as Food and Agriculture, Education and Skill Development, Clean Energy, Healthcare and General Impact sectors during April- October 2021.
Chakr Innovation, Payagri Innovations, Retas Enviro, Eggoz, Varcas Automobiles, Samosa Singh, Sevamob Ventures, Hesa Enterprises, Process Nine Technologies were among the 9 new companies added to the company’s SME portfolio. These funds will help the recipients manage their working capital cycle, procure raw materials and strengthen supply chains, according to a press release.
Caspian Debt is a multi-sector debt funding firm which provides tailored debt to professionally managed small and mid-market transformational firms. The company funds first-generation entrepreneurs with the ambition to grow the company
Avishek Gupta, Head, Caspian Debt said, “While most businesses are still recovering from the pandemic, we believe that there is enormous scope for growth in the SME sector. We continue to hold a long-term view and believe that MSMEs are the growth and development engines of the Indian economy. We have witnessed the stability and resilience of SMEs during the pandemic and other economic crises in the past and we are sure that timely and effective capital infusion will further enhance the sector’s growth. Our investments into the SME sector reflect our strong belief in the contribution of these companies towards SDGs. Caspian Debt’s portfolio companies contribute to 13 SDGs.”
The pandemic enforced lockdown in 2020 had a direct impact on the SME sector, which faced several challenges with logistics, supply chain disruptions, stalled projects in the execution stage, and delays in collection of receivables. By the end of the fiscal 16 out of 54 SMEs in the Caspian Debt’s portfolio reported a positive median sales growth of 6 percent.