The JM Financial India Pre-IPO Fund I, a Category II Alternative Investment Fund (AIF), was launched with a target corpus of ₹1,500 crore and a green-shoe option of up to ₹1,000 crore. The fund has attracted commitments from ultra-high-net-worth individuals (UHNIs), family offices and institutional investors.
The fund will invest in companies that are expected to pursue an initial public offering (IPO) within around 18 months. It will be sector-agnostic and look for businesses with established fundamentals, scalable business models and growth potential, according to the fund manager.
The fund is expected to begin deploying capital shortly. Ratish Varier will manage the scheme.
The launch marks JM Financial Asset Management’s entry into the pre-IPO investment segment. The group already has businesses spanning investment banking, capital markets, wealth management, private credit and asset management.
The fund plans to use the group’s investment banking, research and capital-markets capabilities to identify and evaluate potential pre-IPO investments.
As of July 31, 2026, JM Financial Asset Management had assets under management of ₹14,080.77 crore across its mutual fund business.
First Published: Sept 2, 2026 2:24 PM IST
