Chanakya Fund Trust launches Rs 100 Cr SME fund
Date: April 25, 2023
Chanakya Fund Trust announced the launch of its maiden fund–Chanakya Opportunities Fund I—a Rs 100-crore sector-agnostic fund to invest in small and medium enterprises. Launched by Kresha Gupta, a 24-year-old chartered accountant based in Ahmedabad, the fund comes with a green shoe option of another Rs 100 crore.
“The fund will invest in profitable SME companies with high-potential opportunities in unorganised sectors. About 51% of the corpus will be invested in unlisted SME companies, termed startups in manufacturing, consumer products, and technology,” said the entity in a press note.
StepTrade Share Services is the investment manager and sponsor of Chanakya Fund Trust, which is led by Gupta and Ankush Kumar Jain. The Chanakya Opportunities Fund I, which is a closed-ended fund, will invest in around 25 companies with ticket sizes ranging between Rs 2 crore and Rs 10 crore.
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