NAV Capital Launches India-Focused AIF Fund, Targets Rs 500 Cr

New Delhi, Jan 29 (PTI) Dubai-based wealth management advisory firm NAV Capital on Wednesday announced the launch of its first India-focussed close-ended AIF Fund (Category 2) and plans to raise Rs 500 crore in the first round.

NAV Capital is a category 3A entity regulated by the Dubai Financial Services Authority (DFSA).

The new fund will primarily look for investment opportunities in the pre-IPO stage of companies in the high-growth sectors and small and medium enterprises (SMEs) with high-growth potential prospects.

"NAV Capital plans to raise Rs 500 crore in the first round, which will be deployed over 18 months. Of the total corpus, the fund plans to allocate a minimum of 51 per cent capital in unlisted companies and up to 49 per cent in the listed space," it said in a statement.

NAV Capital said the fund will be sector-agnostic, focusing on companies in banking and financial services, consumer goods and retail, chemicals and materials, technology and innovation, and infrastructure and logistics. With India aiming to become the third largest economy in the world with an estimated GDP of USD 8.4 trillion by 2030, we see immense potential, informs Vineet Arora.

"While this is our first offering to resident Indians, we are committed to India, and more will follow. We aim to tap small and medium Indian businesses with high growth potential, focusing primarily on pre-IPO opportunities and strategic growth capital," Vineet Arora, Managing Director, NAV Capital said.

NAV Capital provides advisory services for wealth management and an in-house team for brokering a full range of structured products.