Fintech and NBFC private credit fund research profile
Northern Arc Fintech NBFC Fund I is a dedicated 2024 private-credit vehicle managed by Northern Arc Investment Managers. The official fund page reports a ₹500 crore target plus ₹150 crore additional capacity and names Shubham Katiyar and Khurshed Elavia as managers; 2025–2026 issuer KIDs identify the fund as a holder of EarlySalary Services/Fibe and Clix Capital debt.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Northern Arc Fintech NBFC Fund I uses a fintech and nbfc private credit; senior debt and ncds approach across Fintech, microfinance, vehicle finance, small-business and consumer finance.
Current evidence
Northern Arc’s current public materials and 2025–2026 debt-market documents continue to identify Fintech NBFC Fund I as an active fund. The fund is listed as a holder in EarlySalary Services’ July and December 2025 NCD KIDs and in a 2026 Clix Capital debt document.
Strategy
Fintech and NBFC private credit; senior debt and NCDs
Sector focus
Fintech, microfinance, vehicle finance, small-business and consumer finance
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Northern Arc’s current public materials and 2025–2026 debt-market documents continue to identify Fintech NBFC Fund I as an active fund. The fund is listed as a holder in EarlySalary Services’ July and December 2025 NCD KIDs and in a 2026 Clix Capital debt document.
Investor questions
Northern Arc Fintech NBFC Fund I is covered in Rupeia's private credit research universe. The current public record describes the strategy as Fintech and NBFC private credit; senior debt and NCDs, with a sector focus of Fintech, microfinance, vehicle finance, small-business and consumer finance. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Northern Arc Fintech NBFC Fund I in the reviewed public sources: EarlySalary Services (Fibe); Clix Capital. It does not represent a complete current portfolio unless the manager has published one.
Issuer KIDs dated July and December 2025 list Northern Arc Fintech NBFC Fund I among the holders of EarlySalary Services/Fibe non-convertible securities. A 2026 Clix Capital debt-market document also lists the fund as an AIF holder. Fund-level performance and repayment outcomes are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: ₹500 crore target plus ₹150 crore additional capacity, as stated on Northern Arc Investments’ official fund page; final close is not publicly disclosed.. Public terms or access information: Category II AIF; 3.5-year term from first close; target investor base includes domestic and foreign institutions, family offices and HNIs. Detailed management fee, carry, hurdle, distribution and waterfall terms are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Shubham Katiyar (Fund Manager); Khurshed Elavia (Co-Fund Manager). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: Public issuer KIDs and debt-market documents identify the fund as a holder of EarlySalary Services/Fibe and Clix Capital debt, but the manager does not publish a complete borrower schedule, final close, audited returns, DPI, TVPI or current NAV..
2026-04-24: Northern Arc’s current public materials and 2025–2026 debt-market documents continue to identify Fintech NBFC Fund I as an active fund. The fund is listed as a holder in EarlySalary Services’ July and December 2025 NCD KIDs and in a 2026 Clix Capital debt document.
Next step
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