New fund · Financial Services

InCred closes special opportunities fund at ₹1,500 crore

By Startup Enthusiast · 7 April 2026

What they do

InCred Alternative Private Investments manages private credit funds for institutional and wealthy investors

It closed its InCred Special Opportunities Fund-I at a hard cap of ₹1,500 crore from domestic and international investors

About 75% of the fund is already deployed across auto, power, oil & gas, and hospitality sectors

InCred Alternative Private Investments has achieved the final close of its InCred Special Opportunities Fund-I (ISOF-I).
The fund reached its hard cap of ₹1,500 crore.
Commitments came from domestic family offices, ultra-high-net-worth individuals, and international investors.
The fund is a Category II, close-ended Alternative Investment Fund (AIF).
It focuses on old economy businesses with hard asset coverage, established cash flows, and structural downside protection.
Approximately 75% of the fund has already been deployed across auto, power, oil & gas, and hospitality sectors.
InCred Alternatives has raised over ₹4,000 crore in total across performing credit funds and special situation funds.

India's private credit market is at an early but decisive stage of institutionalisation, different from the Western market.
There is a large supply gap and compelling risk-reward potential in the Indian private credit space.
InCred has been in private credit since 2022, and ISOF-I is an important milestone with a long runway ahead.

InCred Alternative Private Investments manages private credit funds, including performing credit and special situation funds.
The ISOF-I fund is a Category II, close-ended AIF focusing on old economy businesses with hard asset coverage and established cash flows.
The fund has deployed about 75% of its capital across auto, power, oil & gas, and hospitality sectors.

Bhupinder Singh, Founder - InCred Group
Saurabh Jhalaria, Chief Investment Officer – Private Credit, InCred Alternatives