Chanakya Opportunities Fund II Achieves First Close

Chanakya Opportunities Fund II has successfully reached its initial closing point, following significant commitments exceeding Rs 100 crore within just three months of its inception. The fund, which is under the management of Steptrade Capital, aims for a total corpus of Rs 500 crore and was launched in February 2026.

Fund Focus and Investment Strategy

The Chanakya Opportunities Fund II targets investments in pre-IPO and growth stage companies that are involved in advanced manufacturing, energy transition, and emerging technologies. According to the fund managers based in Ahmedabad, this first closure has garnered interest from ultra-high net worth individuals, family offices, and various eligible investors.

Future Plans and Allocations

Capital deployment for investments is set to commence in August, with the fund’s subsequent allocation window now open for new investors. This fund follows the firm’s inaugural fund, which concentrated on firms preparing to list on India’s SME exchanges.

Investment Themes of the Fund

Chanakya Opportunities Fund II is focused on three primary investment themes:

• Advanced Manufacturing: This includes sectors such as electronics, semiconductors, defence, and specialty chemicals.
• Energy Transition and Infrastructure: The fund will invest in critical areas like battery storage, electric vehicles, power transmission, and data centres.
• Emerging Technologies: Focus will also be directed towards advancements in AI, robotics, digital healthcare, and bio-manufacturing.

The fund aims to support companies that are poised to benefit from India’s burgeoning manufacturing sector, technological advancements, and the ongoing energy transition.