Steptrade Capital has achieved a milestone in funding with the first close of its Category II Alternative Investment Fund (AIF), named Chanakya Opportunities Fund II. In the first 3-months after official launch, the fund manager enlisted investors with funds of more than ₹100 crore. It demonstrates a high level of confidence from qualified investors in Steptrade Capital’s strategic direction and leadership. The fund was launched in February 2026, with an aim of raising a total fund of ₹500 crore, and the initial target of ₹100 crore represents a beginning for the broader goal of raising funds.

Capital deployment timelines and growth trajectory

Support from a wide array of backers enabled the successful closing of Chanakya Opportunities Fund II in its inaugural round. The fund has received the majority of its capital commitments from ultra-high-net-worth individuals, family offices and other eligible investor classes, according to information shared by the asset management firm based in Ahmedabad. 

After achieving this milestone, Steptrade Capital formally launches the next round of fundraising, allowing more potential investors to take a place in the vehicle. The firm has already outlined its operational journey for the capital arena, with initial capital deployment already planned for August 2026.

The evolution of Steptrade Capital is evident in its growth path, moving from a small and medium-sized enterprise-focused investment approach to a high-growth alternative asset manager. With its inaugural fund focused on supporting companies gearing up to list on the SME exchanges in India, it has successfully expanded its presence to launch Chanakya Opportunities Fund II on 3 February 2026. 

The second fund will expand the firm’s mandate to invest in more advanced manufacturing, energy transition, and emerging technology companies in their pre-IPO and growth stages, with a maximum corpus of ₹500 crore. Under the leadership of CA Kresha Gupta and CA Akshay Dawra, the firm has put on a strong showing, raising more than ₹100 crore from ultra-high-net-worth individuals and family offices in just 3 months since the new fund’s launch. 

As capital deployment commences in August 2026 in key domains such as semiconductors, battery storage, robotics, and digital healthcare, Steptrade Capital’s future path becomes an exciting prospect of scaling up its fund size, diversifying its sectors, and playing a larger role in India’s industrial and technological growth.

Strategic focus and core investment pillars

Chanakya Opportunities Fund II is tailored to invest in highly promising companies in growth and pre-IPO stages. The fund is being operated by CA Kresha Gupta and CA Akshay Dawra, who had previously handled Steptrade Capital’s investment platform. 

The initial fund focused on supporting companies making their debut on India’s small and medium exchanges, but this second fund goes far beyond that with its 3 major themes. The driving investment pillars are advanced manufacturing, energy transition and infrastructure, and emerging technologies.

The first is advanced manufacturing, with the fund looking to invest in fast-growing businesses in its electronics, semiconductors, defense, and specialty chemicals sectors. The second theme is energy transition and infrastructure, including vital future-oriented sectors like battery storage, electric vehicles, power transmission, and data centers.

Theme three is on innovations, as growth funds plow money into companies that leverage artificial intelligence, robotics, digital healthcare, and bio-manufacturing processes. The fund targets companies with clear exposure to the manufacturing strength and technology uptake and to the continued clean energy transition in India in a targeted fashion.

Conclusion

Steptrade Capital has secured a significant position in the Indian Alternative Investment Fund environment with the first close of the ₹100-crore commitment in the Chanakya Opportunities Fund II. The firm is ready to launch the deployment of capital in August 2026 into high-growth pre-IPO businesses led by CA Kresha Gupta and CA Akshay Dawra. With Steptrade Capital still on the lookout for new pledges to reach the final ₹500 crore corpus, the fund is positioned to become a larger contributor to the funding of the next generation of Indian innovation in manufacturing, clean energy, and advanced technology.