JM Financial Asset Management floats maiden Rs 1,500 Cr pre-IPO fund

JM Financial Asset Management has launched its first pre-IPO Category II alternative investment fund with a corpus of ₹1,500 crore (about $165 million). This fund marks JM Financial’s entry into the pre-IPO investment space.

The Pre-IPO Fund will invest in companies expected to go public within 18 months. Pre-IPO investments are becoming an important way to earn strong, risk-adjusted returns as India’s startup and private markets grow.

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The fund will be managed by Jaisinh Suchak, Managing Director – Alternative Investment Funds at JM Financial Asset Management, who has over 23 years of experience in financial services, including more than 10 years on the buy-side.

With this first Pre-IPO AIF, JM Financial Group continues to expand its private equity offerings and strengthen its role as a trusted investment partner, leveraging market insights, strong governance and proven fund management to create unique opportunities in india’s evolving private markets.

"Over the last five years, private equity investing in India has evolved across parameters including transparency, liquidity, price discovery and exit visibility. This bodes well for the pre-IPO segment," Jaisinh Suchak, managing director- alternative investment funds at JM Financial Asset Management, told Mint in an interview. "This will be our flagship pre-IPO fund."

The announcement comes as many Indian startups are reaching maturity and preparing to enter public markets. Last year, tech companies like groww, Pine Labs, Aequs, and meesho went public.

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So far this year, two more firms—Amagi Labs and Fractal Analytics—have gone public, while others like Razorpay, PhonePe, Leadsquared, and Whatfix are expected to follow.

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