Premji Invest, Norwest, Lok Capital Back Vegafin's ₹1,000 Crore Plan

22 Oct 2026, 2:19 pm · 2h ago · 1 min read · Analytics India MagazineNew

Amount

₹1,000 Cr

Lead

Premji Invest

Premji Invest, Norwest Venture Partners, and Lok Capital plan to invest up to ₹1,000 crore in Vegafin Capital to build an AI-led MSME lending platform. Founded by former ICICI Bank executive Bijith Bhaskar, Vegafin has signed definitive agreements to acquire a majority stake in Gurugram-based NBFC Bizloan, subject to regulatory approvals. Bizloan manages over ₹235 crore in assets under management across 35 branches. Vegafin plans to deploy AI-driven underwriting and digital workflows for granular credit assessments. Existing investors Michael & Susan Dell Foundation and Mohan Enterprises will exit Bizloan.