Caspian Debt, debt funding provider to startups and social enterprises, announced the opening of their regional office in Delhi/NCR. This will be their third office in India after the one headquartered in Hyderabad and a regional office in Bangalore. Caspian Debt has funded more than 160 startups and social enterprises across a wide variety of sectors till date. The focus sectors for the debt funding in this region will be on SMEs in Food and AgriTech, Cleantech, Healthcare, Education, Water and Sanitation and Financial Institutions catering to MSMEs. The ticket sizes of the loans will be around INR 50 lakhs to INR 15 crore.
According to a report published by TiE Delhi Chapter and Zinnov in 2019, Delhi/NCR has the largest number of active start-ups in India. The number of startups founded from 2009 to 2019 in Delhi NCR is 7,039, while Bangalore is 5,234 and Mumbai is 3,829. Delhi has become very prominent in the start-up ecosystem in terms of the number of start-ups being registered and the funding received in recent years. Caspian Debt would like to play an important role in the start-up ecosystem of not only NCR but also in the North of India. Caspian Debt has already funded more than 30 companies operating out of Delhi NCR and expects to scale this up further.
Commenting on the expansion of Caspian Debt’s operations, Mr. S Viswanatha Prasad, Founder, and Managing Director, Caspian Debt, said “We at Caspian Debt, believe that being where our customers are is a key to stronger relationships. There has been a significant growth in the number of clients from the Delhi/NCR region from FY19 to FY21 and we see a huge potential in this region’s startup ecosystem. We would like to expand our regional presence and serve our existing and potential startup and social enterprises clients in North India better. The thriving ecosystem of VCs and other enablers makes it ideal for us to have a presence in Delhi to build stronger relationships with the booming startup ecosystem there.”
Caspian Debt has partnered with Indian Angels Network and TiE Delhi NCR to reach out to their respective network of start-ups to help them access debt funding. Caspian Debt will focus on cautious but ambitious expansion this fiscal year to manage the existing relationships in the region and supporting new startups in Delhi/NCR. The firm is also keen to engage with other startup-focused enablers such as incubators, investors, industry bodies to increase outreach to the entire ecosystem. The impact investment firm is also keen on funding startups from Tier 2 or 3 regions, catering to rural segments, women owned and women centric businesses.
The new office in the Delhi/NCR is set up at C/o CoWrks Aerocity, Indira Gandhi International Airport, World Mark 1, Tower A, Aerocity, Delhi 110037.