Northern Arc Capital (formerly IFMR Capital), India’s leading debt capital platform for financial institutions serving excluded individuals and businesses, has raised Rs 910 crores (USD 130 million) from IIFL Special Opportunities Fund & its Series managed by IIFL Asset Management Limited, SCPE (Standard Chartered Private Equity) and Affirma Capital, a newly formed, independent private equity firm to be managed by the team at SCPE. This investment almost doubles the net worth of the company. With this round of funding, the total equity raised by Northern Arc stands at Rs 1,400 crore (USD 200 million). As part of this transaction, early investors Dvara Trust, LeapFrog Investments and Accion will partially sell their stake in the company, but will however continue to stay significantly invested and remain bullish on the business.Following this investment, Amit Mehta, Principal, IIFL Private Equity will join the board of the company. Axis Capital, Credit Suisse and ICICI Securities acted as advisors to the transaction.