Reading portfolio management firm Alchemy Capital Management on Friday announced the launch of a new Alternative Investment Fund (AIF), which will invest in emerging companies.
The closed ended new fund, Alchemy Leaders of Tomorrow, Series 2 targets to raise around Rs 500 crore, the company said in a statement.
The fund, which is part of Alchemy Alternative Investment Trust and registered with Sebi as Category III Alternative Investment Fund, will enable investors to invest in the promising and emerging companies that will be the business leaders of tomorrow.
The investment allocation will be multi-cap and sector agnostic, which will allow flexibility in-stock selection.
The term of the fund is three years and can be extended by one year with the requisite consent of the contributors.
The scheme aims to raise investments from high net worth and ultra-high net worth individuals (HNIs and UHNIs), entrepreneurs, corporates and family offices, who are aiming for wealth creation over the long term.
The funding strategy is to generate long-term capital appreciation by investing in opportunities, including investing in listed Indian equities, qualified institutional placements, debt instruments, and in initial share-sales.
''Alchemy Leaders of Tomorrow, Closed Ended Fund, Series 2 is a fund where the primary objective is to create the portfolio of the future, invest in companies, which are building solid competitive edge to compete and excel in an increasingly disruptive digital environment,'' Hiren Ved, co-founder, CEO, Director, and CIO at Alchemy Capital Management said.
The Alchemy Leaders of Tomorrow - Closed Ended Fund, Series 1, which ended in November 2021, has given a CAGR of 22.1 per cent since inception.
(With inputs from PTI)