JM Financial Asset Management has launched its first pre-IPO category II alternative investment fund with a corpus of Rs 1,500 crore (around $165 million).
The fund launch marks JM Financial’s foray into the pre-IPO investment space.
Pre-IPO investments have emerged as an important avenue for generating superior risk adjusted returns, particularly as India’s startup and private markets continue to mature. The pre-IPO Fund would focus on investing in companies expected to list within 18 months, JM Financial said in a press note.
The fund will be managed by Jaisinh Suchak, who is the managing director of alternative investment funds, at JM Financial Asset Management. Suchak comes with over 23 years of experience in financial services and more than a decade of buy-side expertise.
Vishal Kampani, vice chairman and managing director, JM Financial said, "This Fund will leverage the strength and synergy of JM Financial’s integrated ecosystem to create a differentiated investment platform."
The Mumbai-headquartered JM Financial group, offers various services such as investment banking, institutional equities research, wealth management, and private credit. The group provides affordable housing finance via its entity JM Financial Home Loans.
The alternative investment funds are housed under JM Financial Asset Management which also provides wealth management, asset management and portfolio management services.
As of December 31, 2025, the consolidated loan AUM stood at Rs 9,760 crore, distressed credit business at Rs 12,720 crore, wealth management at Rs 1.2 trillion, and mutual fund average asset under management at Rs 14,340 crore.
