JM Financial Raises ₹700 Cr for Maiden Pre-IPO Fund

New Delhi, Sep 2 (PTI) JM Financial Asset Management Ltd on Wednesday said it has secured Rs 700 crore in the first close of its pre-IPO (initial public offering) fund, which will focus on investing in businesses expected to pursue a public listing within 18 months.

JM Financial India Pre-IPO Fund was launched with a target corpus of Rs 1,500 crore and a green shoe option of up to Rs 1,000 crore. The fund has received commitments from a range of investors, including ultra-high-net-worth individuals (UHNIs), family offices and institutional investors.

"The fund remains sector-agnostic and will invest across all stages, with a primary focus on identifying businesses with strong fundamentals, scalable business models and attractive growth prospects," JM Financial Asset Management said in a statement.


This launch marks the entry of JM Financial Asset Management's AIF division into the growing pre-IPO investment segment. The fund is expected to begin deploying capital soon.

Commenting on the first close, Vishal Kampani, Vice Chairman & Managing Director, JM Financial Ltd, said, "The commitments we received at first close underline investors' growing confidence in backing companies with strong fundamentals in the pre-IPO stage. Alternative investment funds have transformed into an important avenue for wealth creation, and the pre-IPO segment is emerging as one of the increasingly important trajectories."

The company will continue to identify opportunities where it can participate ahead of a company's transition to the public markets, he added.

As of July 2026, JM Financial Asset Management had assets under management (AUM) worth Rs 14,081 crore.