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Alchemy Capital Launches New Category III Fund AIF, Aims To Raise INR 500 Cr

The Alchemy Emerging Leader Of Tomorrow fund will have a 20–25 stock sector-agnostic portfolio with a 65% allocation to small and midcap enterprises. The fund's final close will take place in December 2022, the company announced, but it did not specify how much value the initial close will be at.

Photo Credit : Reuters,

Mumbai-based portfolio and asset management company, Alchemy Capital Management announced the launch of its new category-III alternative investment fund (AIF) aiming to raise upwards of Rs 500 crore over a tenure of four years. 

According to a statement, the Alchemy Emerging Leader Of Tomorrow fund will have a 20–25 stock sector-agnostic portfolio with a 65% allocation to small and midcap enterprises. Additionally, investments in large cap companies will be made, and 10% of the portfolio would be set aside for potential IPOs, it added.

The fund's final close will take place in December 2022, the company announced, but it did not specify how much value the initial close will be at.

The company will be led by co-founder and CEO Hiren Ved and colleague Mythili Balakrishnan and seek funding from resident and non-resident Indians, high net worth individuals (HNIs), Hindu undivided Families (HUF), banks, accredited investors, and trusts.

Hiren Ved said, “India is at the cusp of a solid economic recovery led by manufacturing and digital-led businesses. While investors have already played the consolidation story of backing current leaders, our aim is to bet on entrepreneurs with more agile and innovative business models,” 

The initial subscription period for the fund expires on September 30, 2022, and subsequent subscription periods expire every two weeks or on such other date as determined by the Investment Manager. The investors' time horizon will be between three and five years.

Rakesh Jhunjhunwala, Lashit Sanghvi, Ashwin Kedia and Hired Ved fiunded Alcemy. It currently manages assests worth $1914 million catering about 2,650 clients.


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