Chanakya Fund Closes Rs 100 Crore SME Investment Round

In a major milestone for India’s SME sector, the Chanakya Opportunities Fund I, managed by 26-year-old Chartered Accountant Kresha Gupta, has successfully closed its fund. Initially launched in 2023 with a corpus of Rs 100 crore by StepTrade Share Services, the fund included an additional green shoe option of Rs 100 crore introduced last year to boost the growth of small and medium enterprises (SMEs) in India.

Wondering what this fund is all about? Let's explore with TICE.

Chanakya Opportunities Fund I Reaches Final Close

Aligning with the Make in India initiative, Chanakya Opportunities Fund I aims to empower SMEs, helping them strengthen their competitiveness in both domestic and international markets. To date, the fund has invested in over 15 pre-IPOs and more than 20 anchor investments.

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Kresha Gupta, Founder and Fund Manager of Chanakya Opportunities Fund, expressed her gratitude, saying, “The unwavering faith of our investors and their belief in the potential of SMEs have been pivotal in bringing Chanakya Opportunities Fund I to this stage. With the fund now fully closed, we are ready to deliver exceptional value and create lasting impact for all our stakeholders.”

Ankush Kumar Jain, Fund Manager of Chanakya Opportunities Fund I, also noted, “Surpassing the initial fund size and opening the green shoe option underscores the immense potential within India’s SME sector. This milestone marks the achievement of our primary objective, and we are excited to set even higher benchmarks for StepTrade in the coming year.”

Target Investments and Strategy for Long-Term Value

The fund plans to invest in approximately 25 companies, with ticket sizes ranging from Rs 2 crore to Rs 10 crore each. A stringent due diligence process will be followed to identify the most promising investment opportunities. About 51% of the fund will be allocated to unlisted SME companies, particularly startups in manufacturing, consumer products, and technology sectors. The fund aims to provide exit opportunities through primary markets, focusing on companies that could list on the SME exchange via small-ticket IPOs.

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StepTrade Share Services Private Limited (formerly Ace Share Services Private Limited) acts as the Investment Manager and Sponsor of the Chanakya Opportunities Fund, led by Kresha Gupta and Ankush Kumar Jain, CFA.

Kresha Gupta’s rapid rise in the finance world has earned her recognition as the next "Lady Bull" of India. At just 26, she has already made her mark as an exceptional fund manager. Alongside her role in managing the Chanakya Fund, Kresha is the Founder and Director of StepTrade Share Services Ltd, an asset management company holding multiple licenses, including three AIF licenses, a PMS license, and an FPI license.

Her journey began early when she became a Chartered Accountant at the age of 20. She further refined her skills through roles at prominent firms like Vodafone Idea Limited, contributing to Investor Relations and Treasury. Over the last seven years, she has closely tracked equity markets, advised companies on IPOs, and supported them in navigating the SME exchange.

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Under Kresha’s leadership, the Chanakya Fund has shown impressive growth and delivered significant returns. Her focus on identifying high-potential SMEs and executing innovative investment strategies has positioned her as one of India’s most promising fund managers. Kresha’s dedication to sustainable growth, empowering small businesses, and creating long-term value continues to drive her success.

As Chanakya Opportunities Fund I moves forward, stakeholders eagerly await the positive impact it will have on India's SME sector, ushering in a new era of growth and opportunity.

Disclaimer: This is a company/PR press release, creatively edited without altering facts. TICE is not responsible for business decisions based on this report and does not verify its accuracy.

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