Capitalmind Financial Services Aims to Raise Rs 500 Crore with New Alternate Investment Fund

Capitalmind Financial Services is set to raise Rs 500 crore with its first alternate investment fund. The company, already managing Rs 2,200 crore in assets, received SEBI approval for this fund named 'Capitalmind Select India One'. Designed for sophisticated investors, it aims for long-term wealth appreciation.

Investment manager Capitalmind Financial Services announced on Thursday its goal to raise Rs 500 crore over the next year through its maiden alternate investment fund.

Currently, the firm manages Rs 2,200 crore in assets under portfolio management services, according to founder and CEO Deepak Shenoy.

The firm has secured SEBI approval for the category 3 AIF, named 'Capitalmind Select India One', Shenoy said, with a minimum investment amount set at Rs 1 crore.

Designed for sophisticated investors, the fund offers a diversified, quantitatively managed equity portfolio with active risk management, targeting investments in 20-40 stocks, he added.

A statement from the company noted that the fund incorporates multiple factors like momentum, low volatility, and quality into a single pooled vehicle, providing an opportunity for long-term wealth appreciation.

(With inputs from agencies.)