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Steptrade Capital Announces First Close of INR 1,000 Cr Microcap Fund SRF-II
The fund aims to invest in India's listed and unlisted small and microcap businesses.
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Steptrade Capital has announced the first close of its third Alternative Investment Fund (AIF), Steptrade Revolution Fund-II (SRF-II), with a total deployment target of INR 1,000 crore.
The fund aims to invest in India's listed and unlisted small and microcap enterprises, continuing Steptrade's sharp focus on underserved yet high-potential businesses.
SRF-II builds on the legacy of Steptrade's earlier funds—the Chanakya Opportunities Fund and Steptrade Revolution Fund-I—which also targeted India's small business landscape. The new fund will focus on critical sectors such as renewables, defence, waste management, and infrastructure.
"This early close is a strong vote of confidence from our investors," said CA Kresha Gupta, Director and Fund Manager at Steptrade Capital. "It reflects the strength of our investment philosophy—rooted in bottom-up research, market depth, and a clear focus on value creation in sectors that matter."
Operating across all SEBI-regulated investment formats—AIF Categories I, II, and III, Portfolio Management Services (PMS), and Foreign Portfolio Investment (FPI)—Steptrade now offers one of India's most comprehensive platforms for SME investing.
"In microcap investing, timing and structure matter as much as the idea itself," added Ankush Jain, CFA, Director and Fund Manager. "SRF-II reflects a disciplined approach where every allocation is backed by deep research, clear valuation logic, and a focus on protecting downside while capturing structural upside."
Steptrade continues to position itself as a thought leader in SME investments, with sustainability and innovation at the core of its strategies. With SRF-II, the firm deepens its commitment to backing India's next generation of high-growth enterprises.
