Mavenark’s Category II AIF Achieves First Close for Credit and Growth Fund – Series
Mavenark announced the successful first close of its flagship Category II Alternative Investment Fund (AIF), Mavenark Credit and Growth Fund – Series I (MCG Series I), marking a major milestone for the firm and further strengthening its position in India’s private credit and growth capital ecosystem.
MCG Series I is Mavenark’s flagship Category II AIF, offering a hybrid investment strategy that combines the stability of performing credit with the upside of emerging equity. The fund is designed for investors seeking regular income along with long-term capital appreciation.
The fund targets a final corpus of ₹300 crore, with the final close expected within 15 months. This fund is uniquely focused exclusively on the BFSI (Banking, Financial Services and Insurance) sector. Its mandate allows it to invest: A minimum of 51% in performing credit, and up to 49% in equities, including Pre-IPO and listed equity opportunities. This structure enables the fund to deliver a balanced risk-return profile by combining downside-limited income strategies with equity-led growth opportunities within India’s rapidly evolving financial services ecosystem.
“Mavenark Credit & Growth Fund Series I reflects our conviction in India’s long-term BFSI opportunity and the rising demand for flexible, structured capital,” said Phanisekhar Ponangi, Chief Executive Officer, Mavenark Asset Managers Private Limited. “By combining disciplined credit underwriting with selective equity participation, we aim to build resilient portfolios and long-term value for our investors. This fund reinforces our strategic thesis and our commitment to supporting high-quality financial services businesses in India.”
Mavenark is led by an experienced investment leadership team, where Mr. Phanisekhar Ponangi brings over two decades of experience in credit and equity portfolio management, having pioneered India’s first performing credit fund and a dedicated debt PMS, with a strong track record in building disciplined, risk-managed portfolios. This fund is backed by a diverse investor base including HNI & Ultra HNI’s and is positioned to benefit from the fast-growing demand for private credit as a mainstream alternate asset class in India.
