Steptrade Capital closes Fund II for first time with commitments of Rs 100 Cr
Steptrade Capital closes Chanakya Opportunities Fund II for the first time with commitments above Rs 100 Cr.
Within three months of its introduction, Steptrade Capital secured investor commitments totaling more than Rs 100 crore for the first closure of its Category II Alternative Investment Fund (AIF), Chanakya Opportunities Fund II (COF II).
The fund, which was established in February 2026 with a goal corpus of Rs 500 crore, focuses on investing in pre-IPO and growth stage businesses in the fields of advanced manufacturing, energy transition, and emerging technologies.
The fund manager in Ahmedabad claims that pledges from ultra-high net worth individuals, family offices, and other qualified investors were drawn to the first close. The fund has opened its next allocation window for new investors, and capital deployment is set to start in August.
CA Akshay Dawra and CA Kresha Gupta oversee Chanakya Opportunities Fund II. It comes after the company’s inaugural fund, which concentrated on investments in businesses getting ready to list on SME exchanges in India.
The new fund will make investments in three areas: energy transition and infrastructure, including battery storage, electric vehicles, power transmission, and data centers; advanced manufacturing, including electronics, semiconductors, defense, and specialty chemicals; and emerging technologies, including artificial intelligence, robotics, digital healthcare, and biomanufacturing.
The fund focuses on businesses that gain from India’s energy shift, technology adoption, and manufacturing expansion.
