Chanakya Opportunities Fund I exceeds its initial target with Rs 200-crore fundraise

Chanakya Opportunities Fund I Closes at Rs 200 Crore; exceeds its initial target

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.