Chanakya Opportunities Fund I, a SEBI Registered Category II Alternative Investment Fund, today announced the launch of a Rs 100 crore sector-agnostic SME-focused fund with a green shoe option of another Rs 100 crore.
The fund was launched by Kresha Gupta, a 24-year-old Chartered Accountant (CA) based in Ahmedabad.
The fund is a part of Chanakya Fund Trust, which got approval from the markets regulator SEBI (Securities and Exchange Board) to launch a Cat 2 AIF in March this year.
“Our goal is to create world-class investment products at competitive costs for investors in Indian markets. We will develop and launch products under this aegis. Chanakya Opportunities Fund I is our first offering. We are planning to raise Rs 100 Crores in the first year. This is a close-ended fund and we will be accepting subscriptions for the tenure of 5 Years from the First Close with a Maximum Of Two Extensions Of 1 Year Each," said CA Kresha Gupta, founder and fund manager of Chanakya Fund Trust.
The fund will invest in profitable SME (small and medium enterprises) with high-potential opportunities in unorganised sectors. About 51 per cent of the corpus will be invested in unlisted SME companies, termed start-ups in manufacturing, consumer products and technology.
The fund will provide exit opportunities through primary markets as it intends to invest in companies that have the potential to get listed on SME exchange with small ticket size IPO (initial public offering).
StepTrade Share Services Private Limited (Erstwhile Ace Share Services Private Limited) is the Investment Manager and Sponsor of Chanakya Fund Trust, led by CA Kresha Gupta and Ankush Kumar Jain, CFA (chartered financial analyst).
Chanakya Opportunities Fund I is a closed-ended scheme that plans to invest in 25 odd companies with a ticket size ranging from Rs 2 crore to – Rs10 crore per company.
The fund aims to raise capital from resident and non-resident Indians, high-net-worth individuals (HNIs), banks, accredited investors, corporates and trusts.
