KYRO INDIA OPPORTUNITIES FUND - I

Here's an overview of the Kyro India Opportunities Fund – I, based on the deck:

Fund Basics

Investment Thesis

The fund is positioned around India's growth-stage and public-market opportunity — citing macro tailwinds like 8.2% GDP growth, rising IPO activity, and record PE/VC inflows. It calls itself the flagship, benchmark fund in a stated plan to build toward ₹5,000 Cr AUM across future Kyro vehicles.

Investment Strategy — "Flywheel" Across Stages

The fund deploys across five stages of a company's public-market journey, with a defined allocation and target IRR band for each:

Sector Focus

Core focus: Manufacturing & Deep-Tech, Power & Renewable Energy. High-alpha: AI/Product-led Tech, Aerospace/Defence/Semiconductors. Also FMCG/exports and financial services (opportunistic). The fund excludes alcohol, tobacco, gambling/betting, and non-vegetarian/poultry/seafood businesses as a stated ethical mandate.

Risk Controls

15% single-asset cap, max 3 investments per sector, 12–15 positions at full deployment, zero leverage policy, bi-annual independent valuation, 5% cash buffer, and a 3-member IC requiring unanimous approval.

Fees

• Management fee: up to 2.5% p.a. (varies by investor class/corpus size)
• Performance fee: 20% carry on profits above the 10% hurdle
• One-time setup fee: capped at 2%
• Operating expenses: capped at 0.75%
• Waterfall: capital return → hurdle → carry (investor-first sequencing)

Team

Founder & Fund Manager Aman Maheshwari — 10+ years across Asian capital markets, ex-Goldman Sachs, JPMorgan Chase, Nomura. Supported by an investment team and an advisory board including the COO of Patanjali Foods and the Group CEO of Ameya Group.

Track Record Cited

₹550+ Cr in closed transactions (Bhadora Industries IPO/pre-IPO, Hive Hostels pre-IPO, EPW India IPO, structured debt, other PE deals), plus the fund manager's personal listed-portfolio performance shown against Nifty 50/Midcap/SME benchmarks (past performance, not fund performance).

Note: this fund carries materially higher risk/return and illiquidity than the Savings Plus and MMAF AIFs from Northern Arc — it's a closed-ended, growth/pre-IPO equity strategy rather than a debt/credit strategy, so it sits in a very different risk bucket if you're planning to compare all three for investors.