Steptrade Capital, an Ahmedabad-based alternative investment fund (AIF) manager, has achieved the first close of its CAT II AIF, Chanakya Opportunities Fund II (COF II), by securing investment commitments worth Rs 100 crore.
Launched in February 2026 with a target corpus of Rs 500 crore, Chanakya Opportunities Fund II has received commitments from ultra-high-net-worth individuals (UHNIs), family offices, and other investors.
According to the company, with the first close completed and capital deployment scheduled to commence in August, the fund is now opening its next allocation window to a wider pool of eligible investors.
According to Steptrade Capital, investor interest in India’s private markets continues to grow as more companies choose to stay private for longer before listing.
It further noted that investors are increasingly looking to participate in businesses during the final stages of private ownership rather than waiting for public market access.
