DMI Alternatives Pvt Ltd has announced the closure of a $40 Mn fundraise for its fintech focussed “The Sparkle Fund”.
The Sparkle Fund by DMI Alternatives was set up in 2017 to invest in India’s rapidly growing digital finance ecosystem. The fintech fund has so far invested $10 Mn in startups including M2P, Credgenics, Servify, Uni and Mobikwik.
Within the fintech ecosystem, Sparkle focuses on alternative lending, consumer finance, financial-services IT, payments, regtech, wealthtech and AI-ML platforms to drive automation.
In a statement, DMI said that Sparkle will continue to make investments across all stages of its portfolio companies, from Pre-Series A to significant growth rounds, and expects to make more than 20 investments.
