StepTrade Share Services to launch ₹1,000 crore India fund at GIFT city
Date: April 18, 2024
Investment management company StepTrade Share Services has received a Special Economic Zone (SEZ) approval to set up its India fund office at GIFT city, Gandhinagar. This will enable the company to launch approximately ₹1,000 crore India focused fund in the next six months after FME and Scheme approval.
This India fund will have a special focus on the small and microcap segment.
Investments in small and mid cap funds can provide investors with diversification benefits and expose them to a broad range of companies across different stages of growth, StepTrade Share Services said.
Foreign investors will be able to tap into the Indian markets via the StepTrade India fund.
“Contributing to the growth of India is our foremost goal and launching the fund at GIFT City is a step towards that goal,”
said Kresha Gupta, Founder and Director, StepTrade Share Services Pvt Ltd, which has its own AIF CAT I, II & III and PMS as well.
The India fund will enable founders and promoters to leverage the advantages offered by the SEZ framework and GIFT City's infrastructure.
In September 2023, StepTrade Share Services launched the StepTrade Revolution Fund, an open-ended CAT III AIF.
This fund presents an opportunity for investors to engage in Qualified Institutional Buyer (QIB) and Anchor investments within the dynamic and high-growth SME and Microcap sectors.
source : www.cnbctv18.com