Private equity (Cat II) · SEBI registry
India Resurgence Fund
Growth (Series C+) · Private credit / Debt · Mumbai
At a glance
- Stage focus
- Growth (Series C+)
- Primary sector
- Private credit / Debt
- City
- Mumbai
- HQ / office
- Lower Parel, Mumbai, Maharashtra
- Fund registered
- 2017
- Investments on record
- 6
- Corpus (as reported)
- Fund 1 fully committed at USD 629 million; Fund 2 fundraising (as of 2025-26)
- Website
- www.indiarf.com
- Profile ↗
About
India Resurgence Fund (IndiaRF) is an India-focused special-situations investment platform run as a 50:50 joint venture between the Piramal Group and Bain Capital's Special Situations team. It makes control/recapitalisation investments in stressed or under-invested mid-market companies.
Investment focus
Special-situations / control investments in under-invested or stressed mid-market companies; debt-with-collateral and/or equity. Sectors: core manufacturing, consumer, export-oriented businesses, infrastructure.
SEBI registration
SEBI AIF Category II — reported as “Cat II”
- IN/AIF2/17-18/0346
- IN/AIF2/23-24/1376
SIDBI Fund of Funds
None found — sponsored as 50:50 JV of Piramal Group and Bain Capital (private capital); no government/SIDBI LP relationship disclosed
Notable portfolio
Shree Digvijay Cement; Anthea Aromatics; Impresario Handmade Restaurants; Panacea Biotec; Archean Chemical Industries; Primacy Industries
Team & organisation
Category II AIF special-situations platform; multi-scheme (India Resurgence Fund Scheme 1 & Scheme 2). Piramal–Bain Capital 50:50 JV managing platform.
Connect through iHub India
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Frequently asked
- What does India Resurgence Fund invest in?
- Special-situations / control investments in under-invested or stressed mid-market companies; debt-with-collateral and/or equity. Sectors: core manufacturing, consumer, export-oriented businesses, infrastructure.
- How do I pitch India Resurgence Fund through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ PE / special-situations (stressed-asset, control buyout) fund — not startup VC
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.indiarf.com/Contact; https://www.indiarf.com