Senior-secured venture debt fund research profile
Trifecta Venture Debt Fund IV is Trifecta Capital’s 2024 India venture-debt vehicle, launched with a ₹2,000 crore target and later supported by an IFC commitment of up to $25 million. It provides senior venture debt and equity-linked financing to Series A and later companies. Public filings identify Si Creva Capital Services and OnEMI Technology Solutions as Fund IV-linked borrowers or counterparties; broader Trifecta platform names are excluded from this vehicle record.
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
Trifecta Venture Debt Fund IV uses a senior-secured venture debt; growth financing; equity-linked debt approach across Technology, climate and mobility, healthcare, fintech.
Current evidence
Si Creva’s May 2026 NSE filing names Trifecta Venture Debt Fund IV as an NCD holder in multiple 2025 allotments. OnEMI’s 2026 IPO prospectus documents the Fund IV subscription agreement and July 2025 amendment, providing direct company-level evidence beyond Trifecta’s platform disclosures.
Strategy
Senior-secured venture debt; growth financing; equity-linked debt
Sector focus
Technology, climate and mobility, healthcare, fintech
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
Si Creva’s May 2026 NSE filing names Trifecta Venture Debt Fund IV as an NCD holder in multiple 2025 allotments. OnEMI’s 2026 IPO prospectus documents the Fund IV subscription agreement and July 2025 amendment, providing direct company-level evidence beyond Trifecta’s platform disclosures.
Investor questions
Trifecta Venture Debt Fund IV is covered in Rupeia's private credit research universe. The current public record describes the strategy as Senior-secured venture debt; growth financing; equity-linked debt, with a sector focus of Technology, climate and mobility, healthcare, fintech. 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 Trifecta Venture Debt Fund IV in the reviewed public sources: Si Creva Capital Services Private Limited; OnEMI Technology Solutions Limited. It does not represent a complete current portfolio unless the manager has published one.
The fund’s 2025 IFC investment and institutional first-close reporting are public. Si Creva’s 2026 NCD disclosure names Trifecta Venture Debt Fund IV as an allottee, while the OnEMI prospectus documents Fund IV’s 2024 subscription agreement and 2025 amendment. Vehicle-level realised performance is 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: ₹2,000 crore target including ₹500 crore green shoe; first close reported in January 2025; IFC commitment of up to $25 million. Final commitments are not publicly disclosed.. Public terms or access information: Senior venture debt for Series A and later Indian companies, with possible equity-linked or convertible instruments. Complete fees, carry, hurdle, tenor, warrants, concentration, recycling, redemption and security 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 Rahul Khanna, Nilesh Kothari. 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: The complete Fund IV borrower schedule, final close, audited vehicle-level net IRR/DPI/TVPI, fees, carry, hurdle, remaining capacity and full security terms are not publicly disclosed. Si Creva and OnEMI are retained because company and regulatory filings identify Fund IV directly; Trifecta’s broader platform portfolio is not substituted for this vehicle..
2026-05-06: Si Creva’s May 2026 NSE filing names Trifecta Venture Debt Fund IV as an NCD holder in multiple 2025 allotments. OnEMI’s 2026 IPO prospectus documents the Fund IV subscription agreement and July 2025 amendment, providing direct company-level evidence beyond Trifecta’s platform disclosures.
Next step
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