InCred Growth Partners Fund ('IGPF')
InCred Growth Partners Fund ('IGPF')
About Us
InCred Growth Partners Fund (‘IGPF’) is a series of Private Equity funds sponsored by InCred Capital Financial Services.
IGPF invests in ‘Best In Class’ privately owned companies in India. The Fund will take high conviction, concentrated positions in 8-9 companies through its each fund with the aim of generating alpha.
Launched in 2023, IGPF-I is the maiden strategy from this series and a SEBI registered CAT-II AIF. IGPF-II was launched in late 2025.
IGPF is backed by a team with over 100 years of cumulative investment experience.
Investment Approach
01.
Target Companies
IGPF targets companies that are ‘Best In Class’ and run by exceptional leadership teams with a demonstrated track record of execution.
02.
Themes
IGPF specializes in two themes – Established (including Consumer, Financial Services, Enterprise, Healthcare) and Emerging (including Niche Manufacturing, Technology, Energy).
03.
Tenure
6 years from First Close.
04.
Investment Criteria
We define ‘Best In Class’ company as a SUPER company, which has:
- Scale – Market leader or top 3 in their category
- Uniqueness – Strong edge, difficult to replicate
- Profitability – Limited need for further capital
- Exitability – Should IPO within 2-4 years
- Relationship – Proprietary to IGPF
Portfolio
Based out of Mumbai, Purplle is India's 2nd largest and multi-channel Beauty & Personal Care ("BPC") platform, housing an online vertical marketplace and several brands.
Based out of Delhi NCR, Niva Bupa is one of the largest & fastest growing standalone health insurers in India. It is promoted by UK's 'Bupa Group' and listed on the stock exchanges.
Based out of Bengaluru, Shadowfax is one of India's largest 3PL players, serving E-Commerce & Quick Commerce with end-to-end logistics and last-mile delivery solutions and a specialization in return and exchange logistics.
Based out of Bengaluru, formally known as Manjushree Technopack Limited is India's largest rigid plastic packaging company, catering to industry leaders across consumer, chemical and regulated pharmaceutical sectors.
Based out of Delhi NCR, Devyani is one of the top QSR operators and the largest franchise operator for yum! Brandd in India, with brands like KFC, Pizza hut among others. It is listed on the stock exchange
Based out of Jaipur, Celebal drives AI, Big Data, and Cloud innovation for Fortune 500 and 2000 firms globally through key partnerships with Microsoft and Databricks.
Based out of Delhi NCR and part of Amber Group, IL JIN is a leading EMS provider of PCBAs and a manufacturer of Bare PCBs, Battery Energy Storage Systems, and Industrial Automation Solutions for consumer, auto, industrial, telecom, and defence sectors.
VEM Technologies is a premier Hyderabad based aerospace and defence company in India, specializing in the design, development and manufacturing of defence systems, including missiles, UAV sub-systems and avionics.
Adage Automation, based in Goa, is a leader in Gas Analyser Systems, Continuous Emission Monitoring Systems and Ambient Air Quality Monitoring Systems, serving industries such as oil & gas, steel, cement, chemicals, and power for process optimisation and environmental monitoring.
Portfolio
Team
Past Investments of the Team
CONTACT US
For Investors –
Registered Office
InCred Alternative Investments Private Limited
Unit No 1203, 12th Floor, B Wing, The Capital, C-70,
G Block, BKC, Bandra (E),
Mumbai – 400051
Quick Links
Company
Compliance Officer
Compliance Officer details
- Name: Ms. Shivani Janjirkar
- Designation: Compliance Officer
- Contact: 022 6941 6900
- Email: shivani.janjirkar@incredalts.com/ aif.compliance@incred.com
The Asset Management business for InCred is catered through two entities, InCred Asset Management Private Limited and InCred Alternative Investments Private Limited. Both these entities are Investment Managers under SEBI (Alternative Investment Funds) Regulations, 2012. InCred Asset Management Private Limited is also registered as Portfolio Manager with SEBI Regn. No. INP000007410.
InCred Alternative Investments Private Limited is an Investment Manager to InCred Alternative Opportunities Trust (“IAOT”) and InCred Alternative Investments Trust (“IAIT”).
InCred Credit Opportunities Fund- I, InCred Growth Partners Fund- I, InCred Credit Opportunities Fund-II, InCred Special Opportunities Fund- I, InCred Credit Opportunities Fund- III and InCred Growth Partners Fund- I are schemes under IAOT.
Constitution: IAOT has been set up as a Trust under the Indian Trusts Act, 1882 and is registered with SEBI as a Category II Alternative Investment Fund vide registration no. IN/AIF2/22-23/1111 dated August 01, 2022. Trustee: Catalyst Trusteeship Limited | Sponsor: InCred Capital Financial Services Limited (erstwhile known as ‘InCred Capital Financial Services Private Limited’)
InCred Liquid Alternative Fund- I and InCred Dynamic Equity Asymmetric Returns Fund are schemes under IAIT.
Constitution: IAIT has been set up as a Trust under the Indian Trusts Act, 1882 and is registered with SEBI as a Category III Alternative Investment Fund vide registration no. IN/AIF3/22-23/1253 dated March 27, 2023. Trustee: Catalyst Trusteeship Limited | Sponsor: InCred Capital Financial Services Limited (erstwhile known as ‘InCred Capital Financial Services Private Limited’)
InCred Ventures India Angel Fund (“IVIAF”) is a Category I AIF – Venture Capital Fund (Angel Fund)
Constitution: IVIAF has been set up as a Trust under the Indian Trusts Act, 1882 and is registered with SEBI as a Category I Alternative Investment Fund – Venture Capital Fund (Angel Fund) vide registration no. IN/AIF1/23-24/1261 dated April 19, 2023| Trustee: Catalyst Trusteeship Limited | Sponsor: InCred Capital Financial Services Limited (erstwhile known as ‘InCred Capital Financial Services Private Limited’) | InCred Ventures India Angel Fund is managed by Saumya Mittal & Sneha Jajoo (Key Investment Team).
InCred Alternative Investments Private Limited (Branch structure) is registered as a Fund Management Entity (Non-retail) with the International Financial Services Centres Authority (IFSCA) vide registration number FDM2026FNR0986.The IFSC Branch undertakes fund management activities for eligible non-retail investment funds in compliance with the applicable IFSCA regulations.
Address: Office no SI-M-021 Shilp Incubation Centre, Unit B, First Floor, Plot 11T5, Block 11 Gift SEZ, Gift City, Gandhinagar Gujarat, India 382050.
Principal Officer/ Complaint Redressal Appellate Officer : Ms. Sheetal Puri – sheetal.puri@incredalts.com
Compliance Officer/ Complaint Redressal Officer: Mr. Gaurav Ahuja – gaurav.ahuja@incredalts.com
Complaint Handling and Grievance Redressal – GIFT Branch