Chanakya Opportunities Fund I Closes At Rs 100 Cr
Date: January 8, 2025
The SME-focused fund, started by StepTrade Share Services, aims to boost the competitiveness of small and medium enterprises under the Make in India initiative
Chanakya Opportunities Fund I, a small and medium enterprises (SME)-focused Category II Alternative Investment Fund (AIF) started by StepTrade Share Services in 2023, has reached its final closure with a corpus of Rs 100 crore. The fund, which also included an additional green shoe option of Rs 100 crore, is designed to invest in small and medium enterprises across key sectors in India, as per the press release.
Aligning with the Make in India initiative, the fund’s primary goal is to empower Indian SMEs by enhancing their reach and competitiveness both in domestic and global markets. Since its inception, the fund has participated in over 15 pre-IPO deals and 20 anchor investments, further underlining its focus on fostering growth in India’s dynamic SME sector.
“With the fund now fully closed, we are committed to delivering exceptional value and creating lasting impact for all our stakeholders,” said the fund management team at StepTrade Share Services. The team also emphasized that the support from investors and the growth potential of India’s SMEs were key factors in the successful closure.
Chanakya Opportunities Fund I plans to invest in approximately 25 companies, with individual investments ranging between Rs 2 crore and Rs 10 crore per company. The fund will prioritize SMEs in manufacturing, consumer products, and technology sectors, with a focus on unlisted companies and startups with high growth potential. The fund is also targeting an exit route through the primary markets, investing in companies with the potential to list on the SME exchange through small-ticket IPOs.
The fund’s investment strategy includes a rigorous due diligence process to ensure it supports high-potential businesses in unorganized sectors, further strengthening India’s SME ecosystem. With its successful closure, Chanakya Opportunities Fund I aims to drive significant growth in the Indian economy by supporting innovative and impactful businesses.
StepTrade Share Services Private Limited (formerly known as Ace Share Services Private Limited) serves as the Investment Manager and Sponsor of the fund.
source : www.bwdisrupt.com