Himalaya Wealth Managers Unveils Rs 500-Crore Fund for Growing SMEs

Himalaya Wealth Managers has introduced a Rs 500-crore alternative investment fund targeting high-growth SMEs in sectors like aerospace, defence, healthcare, and renewable energy. Led by industry veterans, the fund will offer both financial aid and strategic support to promising enterprises.

Himalaya Wealth Managers has announced the launch of a new alternative investment fund worth Rs 500-crore, aimed at supporting high-growth small and medium enterprises (SMEs) across various industries, including aerospace, defence, healthcare, and renewable energy.

Named Himalaya SME Scheme-I, this fund is registered as a category I Alternative Investment Fund (AIF) with the Securities and Exchange Board of India (SEBI). It aims to attract a total corpus of Rs 250 crore, with an additional Rs 250 crore option for further investment. Led by prominent industry figures including Asit C Mehta and Deena Mehta, the fund focuses on SMEs that display promising growth models, providing them with monetary resources, governance, and operational backing.

Deena Mehta, General Partner and Investment Director, remarked on the growing formalisation and scaling of India's SMEs, highlighting the 'equity risk capital gap' hindering potential growth. The Scheme-I seeks to bridge this gap by aligning with niche market leaders demonstrating strong cashflow and competitive advantages, she emphasized.