Aarth AIF

A SEBI-registered Category III Alternative Investment Fund unlocking alpha in India's micro-cap ventures.

Aarth Growth Fund — SEBI-Registered Micro-Cap Focused AIF

• Structure: Close-ended Category III Alternative Investment Fund, sector-agnostic and micro-cap focused (SEBI Reg. No: IN/AIF3/24-25/1610)
• Key stats (as on 31 Aug 2026): Committed capital ₹493 Cr, fully called (100%); AUM ₹640 Cr; NAV per unit ₹183.54; absolute return since inception 83.54% (vs. Nifty Small Cap 250 benchmark up ~3.68% over the same window)
• Fund basics: Inception October 2024, fund start 3 Dec 2024; minimum contribution ₹1 crore; long-term horizon with a 5-year tenure; benchmarked against Nifty Small Cap 250 and Nifty Micro Cap 250
• Fee structure: 2% p.a. management fee, 12% hurdle rate, 20% performance fee
• Investment strategy: Up to 10% of investable corpus per security per SEBI norms, with an internal discipline capping exposure at max 5% of a portfolio company's market cap
• Portfolio activity: 71 total anchor investments across names like Mamata Machinery, Amanta Healthcare, Denta Water & Infra, Borana Weaves, and Shreeji Shipping Global, plus mainboard participation in companies including Belrise Industries, Anthem Biosciences, and Senores Pharmaceuticals
• Investment philosophy ("AARTH" framework): Addressable Market, Asset Quality, Regulation & Governance, Timing & Trends, Horizon — built around capturing a "discovery premium" through pre-IPO/anchor allocations, fundamentally-driven bottom-up picks, sector-agnostic exposure, and disciplined, timely exits
• Team: Co-founded and co-managed by Adheesh Kabra (CA, CS, MBF, CFP — 16+ years in capital markets, micro-cap investor since 2012, former Director & CFO at Prabhat Financial Services) and Rishi Agarwal (CA, CFA, Certified AIF Manager — 10+ years at PwC in finance and advisory), backed by a five-person research team
• Recognition: Gold sponsor at the Dubai Alternative Investment Summit (Feb 2026), ranked among top-tier Category III long-only AIFs (top 2 twice in a single calendar year), and ranked 4th among major anchor investors in India's SME IPO season