New fundFinancial Services
Neo closes second private credit fund at ₹6,200 Cr
By Abha Lohia · Editor ·
Neo: funding and every story →
Fund closeMumbaiFounded 2021
- Neo is a Mumbai wealth and asset management group whose alternative arm runs credit funds for family offices and institutions
- Its second private credit fund closed above the ₹5,000 Cr target, drawing family offices and institutional backers
- The first fund, closed in 2024 at ₹2,575 Cr, made 35 investments and 17 exits
What happened
- The alternative arm of Neo wrapped up its second credit strategy with a closing round of commitments.
- It raised ₹6,200 Cr, above the ₹5,000 Cr goal.
- The vehicle is Neo Special Credit Opportunities Fund-II, a SEBI-registered Category II AIF.
Why it matters
- It shows strong appetite for private credit among family offices and institutions.
- The first fund deployed more than 150% of its corpus.
The business
- Neo offers wealth and asset management services.
- Its alternative arm funds acquisitions, refinancing, growth capital and special situations.
The founders
NJ
Nitin Jain
HD
Hemant Daga
In numbers
₹2,575 CrFund I commitments · 2024
What happens next
- Deploy the new capital in cash-generating businesses with collateral-backed structures.
Words to know
- Private credit
- Loans made by funds rather than banks.
The numbers around it
Financial Services in November 2026: 4 rounds with a disclosed amount, $166 million in all; the biggest was OnEMI (₹832 Cr). Every sector this year →
Terms in this story
- Family office: A family office is a private company that manages the wealth of one wealthy family, or a few families together. In startups, family offices invest directly and also back venture funds as limited partners. In India they are not a regulated category on their own, though the funds they invest through can be SEBI-registered AIFs.
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