Fintech startup LegalPay launches healthcare focused fund
- ByTejika Bajaj | January 19, 2022
The fintech startup LegalPay has recently launched an interim finance healthcare focused fund. Through this fund, various retail investors can participate by investing a minimum amount of INR 10,000 per opportunity in an asset-backed legal and debt financing asset class against a fractional ownership of the same.
Interim Finance funds are essentially short term, highly secure funds that allow insolvent companies to remain operational while undergoing the insolvency resolution process. Interim Finance as an asset class has a very short investment cycle and is a natural realisation event. The New Delhi-based company said alternative investment in legal and debt asset classes does not correlate with capital markets and provides over 20-30% pre-tax IRRs of monthly disbursements.
Talking about the launch of a new fund, the founder and CEO of LegalPay, Kundan Shahi said, “The fintech firm democratises investments through extensive use of technology and data. We want to make the use of alternative investments mainstream for retail Indian investors like the ultra-rich does. We have a unique ability to engage in product innovation consistently and set benchmarks for wealth generation in India.”
LegalPay targets mid-market companies, including MSMEs, undergoing insolvencies, requiring Rs10 lakh – Rs5 crore. It competes with restructuring firms such as Edelweiss, KKR, Eight capital, which generally focus on high-ticket transactions within insolvency.
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