Premji Invest, Norwest, Lok Capital plan ₹1,000 Cr for Vegafin

Premji Invest, Norwest and Lok Capital plan to invest up to ₹1,000 crore ($106 million) in Vegafin, according to Analytics India Magazine, Free Press Journal and The Hindu BusinessLine. Vegafin is led by Bijith Bhaskar, its founder, Managing Director and CEO. He is a former ICICI Bank executive. Premji Invest is the investment arm of Azim Premji, the billionaire who founded Wipro.

Alongside the funding, Vegafin has signed definitive agreements to buy a majority stake in Bizloan, a Gurugram-based NBFC. The deal needs regulatory approvals. Bizloan lends to small businesses against security and has over 35 branches. Analytics India Magazine and Free Press Journal put its assets under management at over ₹235 crore. The Hindu BusinessLine reported a loan book of $25 million.

Analytics India Magazine first reported that Bizloan was founded in 2018 by Rahul Jain, Abhishek Mishra and Vikram Diwan. Michael & Susan Dell Foundation and Mohan Enterprises are exiting, while BLinC Invest stays. EY Investment Banking was the exclusive financial adviser, also first reported by Analytics India Magazine.

Bhaskar said, as first reported by Analytics India Magazine: "Our ambition is to leverage AI and harness data from multiple sources to develop deeper insights into MSME businesses, enabling faster, granular and accurate assessment of credit risk." On timing, Analytics India Magazine cited a Bloomberg report published October 21. The Hindu BusinessLine cited a statement on Wednesday and was published October 22, 2026.