Mangal Keshav Launches Pre-IPO Fund

New Delhi, Apr 16 (PTI) Mangal Keshav Financial Services LLP on Thursday announced the launch of Veer Growth Fund, with a corpus of Rs 200-crore, focused on investing in firms in their pre-IPO phase, anchor rounds, and select special situations.

The fund, a category-II Alternative Investment Fund (AIF), is designed to address a persistent gap in public markets.


"By the time high-quality IPOs reach listing, a significant portion of value creation has already taken place. The pre-IPO window often offers stronger visibility into business performance, improving operating metrics, and more attractive valuation discovery," Mangal Keshav Financial Services said in a statement.

The fund focuses on companies with revenues exceeding Rs 100 crore that are either profitable or close to break-even, with a clear path to an IPO within at least six months.

The objective is to identify businesses that have crossed key operational thresholds but may still offer valuation upside ahead of listing. Founded in 1939, Mangal Keshav Financial Services serves over 35,000 clients across advisory, portfolio management, and alternative investments, with group assets under management of over Rs 5,000 crore.