Arka Credit Fund I said it has invested in the non-convertible debentures (NCDs) issued by Everest Fleet, a large fleet supplier in India that works with the likes of Uber and Ola. The investment value was not disclosed. Everest will use the capital to expand its fleet portfolio to exceed 17,000 vehicles by March 2024. Based in Mumbai, Everest Fleet was established in 2016 and has around 10,000 cars in its fleet across seven major metropolitan areas in India. “The investment in Everest Fleet aligns with our investment philosophy of partnering with credible mid-market players, by providing them access to sustainable capital in their overall growth journey,” said Sonit Singh, Director at Arka Investment Advisory Services Private Limited, which manages Arka Credit Fund.
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