Multinational bank SMBC acquired 5.4% equity in Chennai-based Northern Arc Capital
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Chennai-based debt capital platform Northern Arc Capital has raised equity funding from Japanese multinational bank SMBC, which acquired a 5.4% equity in the company. This SMBC's investment will help Northern Arc address the debt needs of a growing client base across sectors, including new-age financial institutions in sectors such as consumer finance and fintech. The total equity raised by the Northern Arc is Rs 1000 crore.