Unlock High-Growth Potential Through Investment in AIF
SMEs and Microcaps
An Investment Management company holding SEBI licenses across CAT II & III AIF and an FME license under the SEZ framework.
India’s Pioneer in SME/Microcap Exchange-Focused AIF
Steptrade Capital is a leading investment management company and SEBI-registered Alternative Investment Fund (AIF) manager specializing in SME and Microcap investments in India. As one of the first AIF to focus exclusively on SME exchange–driven wealth creation, Steptrade Capital has expanded access to high-growth opportunities by investing in carefully selected SME and Microcap companies listed on India’s SME exchanges.
With a strong foundation in research-driven investing, Steptrade Capital manages multiple SEBI-registered AIFs and holds a Foreign Portfolio Investment (FPI) license, enabling participation from global investors. Its fund lineup includes Chanakya Opportunities Fund I, Steptrade Revolution Fund I, Steptrade Revolution Fund II, and Steptrade India Fund, each designed to identify scalable businesses supported by strong fundamentals, sound governance, and long-term growth potential.
Through a disciplined approach to SME and Microcap investing, deep market insight, and active portfolio management, Steptrade Capital enables investors to participate in India’s evolving SME ecosystem while focusing on sustainable, long-term value creation.
Delivering for Our Clients
Chanakya Opportunities Fund
India’s first SME Exchange-listed Category II AIF, focusing on investing in high-potential SMEs, fostering innovation, and offering investors a unique opportunity to support and benefit from SME growth.
Steptrade Revolution Fund
An open-ended Category III AIF targeting SME and microcap sectors, offering a diversified portfolio of high-growth companies with strong fundamentals, ideal for investors seeking significant returns.
Steptrade Revolution Fund - II
Steptrade Revolution Fund-II by Steptrade Capital unlocks exclusive investment opportunities in India’s dynamic SME and Microcap space. Our expert fund managers focus on anchor investments in IPOs and listed companies.
Steptrade India Fund
A feeder fund for the Revolution Fund, enabling Foreign Investors and NRIs to access diversified portfolios and capitalize on India’s growing SME and microcap investment opportunities seamlessly.
Why Invest in SME Exchange and Microcap?
Impressive Historical Performance
The S&P BSE SME IPO Index has achieved a 58.67% CAGR over 10 years, far surpassing the main board's 22.45%, with a notable 36% alpha.
Migration to Main Board
Over 40% of SME companies have migrated to the main board, demonstrating strong growth potential and scalability.
Attractive Valuations
Many SME and Microcap stocks are available at appealing valuations, making them ideal for value and growth-focused investors.
Long-Term Growth Potential
These investments offer significant long-term returns as companies expand and capture larger market shares.
Listing Gains
SME and Microcap IPOs frequently offer substantial listing gains, creating lucrative short-term profit opportunities.
Steptrade In Numbers
100+
years of Team Experience
100+ SMEs
Investments
400+
Crores Capital Managed
72+
Anchor Investments
25+
Unlisted Investments
In The Media
Key Performance Analysis From Monthly Report - December 2025
Trusted by those who matter – our clients!
Steptrade has transformed my investment portfolio with its personalized strategies. The returns have exceeded my expectations, and their team’s expertise is unmatched!
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Frequently Asked Questions
1What is an Alternative Investment Fund (AIF)?
An Alternative Investment Fund (AIF) is a SEBI-regulated privately pooled structure that allows professional fund managers to deploy capital into specialized asset classes such as SMEs, Microcaps, and unlisted opportunities, following defined strategies and regulatory frameworks.
2What is SME exchange–focused wealth creation?
SME exchange–focused wealth creation refers to capital allocation into small and medium enterprises listed on SME exchanges. These companies often represent early-stage growth opportunities with scalable business models and long-term potential.
3How does Steptrade Capital approach SME and Microcap opportunities?
Steptrade Capital follows a research-driven and disciplined approach focused on business fundamentals, governance standards, scalability, and risk assessment. Each opportunity undergoes detailed analysis before being considered within the fund framework.
4What types of funds does Steptrade Capital manage?
Steptrade Capital manages SEBI-registered Cat –2 and Cat –3 Alternative Investment Funds (AIFs) focused on SMEs and Microcaps, including Chanakya Opportunities Fund I, Steptrade Revolution Fund, Steptrade Revolution Fund II, and Steptrade India Fund.
5What is the difference between SME and Microcap companies?
SME companies are typically listed on SME exchanges and are at an early stage of growth, while Microcap companies are listed on the main exchanges but have relatively smaller market capitalization. Both segments offer distinct growth characteristics and risk profiles.
6How are risks managed within the fund structure?
Risk management is integrated at every stage through diversification, governance checks, financial analysis, and continuous portfolio monitoring. The objective is to maintain discipline and transparency while navigating market volatility.
7Who can participate in an AIF structure?
AIF structures are designed for eligible participants as defined by SEBI regulations. Participation requirements, minimum commitment thresholds, and compliance norms apply as per regulatory guidelines.
8How does Steptrade Capital ensure regulatory compliance?
All fund activities are aligned with SEBI regulations and applicable legal frameworks. The firm maintains strict compliance standards, reporting protocols, and governance practices to ensure transparency and accountability.
9What role does the FPI license play?
The Foreign Portfolio Investment (FPI) license enables access to global capital participation, allowing the fund platform to engage with international stakeholders in accordance with regulatory norms.
10How can someone learn more about Steptrade Capital’s funds?
Detailed information about fund strategies, structure, and eligibility criteria is available through official communication channels. Interested parties can request further details through the contact section.