Chanakya Opportunities Fund I exceeds its initial target with Rs 200-crore fundraise
Date: January 8, 2025
26-year-old CA Kresha Gupta-led fund targets investment in 25 SMEs focusing on manufacturing, consumer, and technology sectors.
Chanakya Opportunities Fund I, a Category II Alternative Investment Fund (AIF) managed by StepTrade Share Services, has successfully closed its fundraising, exceeding its initial target.
Launched in 2023 by 26-year-old fund manager CA Kresha Gupta, the fund aimed to raise Rs 100 crore but ultimately secured an additional Rs 100 crore through a green shoe option, reflecting strong investor interest in the Indian SME sector.
Chanakya Opportunities Fund I, which aligns with the government's "Make in India" initiative, focuses on investing in high-growth SMEs across sectors like manufacturing, consumer products, and technology. The fund plans to invest in approximately 25 companies, with an average ticket size ranging from Rs 2 crore to Rs 10 crore per company.
"The successful closure of this fund underscores the immense potential of the Indian SME sector," said CA Kresha Gupta, Founder & Fund Manager, Chanakya Opportunities Fund. "We are confident that this fund will play a vital role in empowering SMEs and driving economic growth."
The fund will primarily invest in unlisted SMEs with a focus on companies with the potential to list on the SME exchange through small-ticket IPOs.
source : www.moneycontrol.com