Chanakya Opportunities launches Rs.100-Cr fund to invest in SMEs

Kresha Gupta founded Chanakya Fund Trust has launched its first fund - an INR 100 crore (USD 12.5 million) sector-agnostic fund - to invest in startups and small and medium enterprises (SMEs). The Category-II alternative investment fund (AIF), called Chanakya Opportunities Fund I, will also have a greenshoe option of INR 100 crore. About 51% of the corpus would be reserved for investments in manufacturing, tech and consumer product startups. The fund will invest in companies that have the potential to get listed on SME exchanges.