Report: January Capital Raises $85M in Seed Round for Growth Credit Fund

January Capital said the initial funding round for its growth credit fund closed with capital commitments of more than $85M, Bloomberg News reported December 17, citing a statement from the company.

The January Capital Growth Credit Fund is targeting $150M, with its final close planned for 2025. The fund will provide loans to private equity-backed technology companies in the Asia-Pacific region. It earmarked $5M to $20M for every loan transaction, with the interest rate set between 12% and 16% in addition to upfront fees.

The Singapore-based asset manager's fund secured $20M each from the US International Development Finance Corp. and an unnamed European development finance institution. Wealth managers, family offices and endowments also participated in the funding round.

The news follows closely on January Capital’s announcement that it has linked up with Scarcity Partners, which took a strategic minority investment and has added Scarcity founding partner Matthew Webb to its board, with Adrian Whittingham of Pinnacle Asset Management acting as an alternate director and board observer.