IFSC Category III AIF · GIFT City
USD Access to India’s Small-Cap Growth Opportunity
A GIFT City AIF giving offshore investors focused exposure to emerging Indian businesses, backed by deep research and a proven track record.
Built for global capital.
Minimum commitment
$250k
Per investor
Concentrated book
12 – 15
High conviction portfolio
Liquidity
Monthly
Subject to notice period
Lock-in
NIL
No hard lock-in
STRUCTURE & LEGAL
The vehicle.
Fund Name
Equitree Emerging Opportunities Fund
Vehicle
Category III AIF · Restricted (Non-Retail)
Jurisdiction
IFSC, GIFT City, India
Regulator
IFSCA
STRATEGY
What we buy.
Approach
Long-only, high conviction
Focus
Indian small-cap equities
Market cap
$100 – 500m at entry
Holding period
5+ years, low turnover
INVESTOR TERMS
How you participate.
Currency
USD · distributions repatriable in USD
Taxation
At fund level · DTAA treaty efficiency may apply
Reporting
Monthly NAV · annual audited report
Restrictions
Long-only · no leverage · no short selling
The key advantages.
“The IFSC framework combines offshore efficiency with institutional governance and local investment expertise.”
USD offshore access
US Dollar denominated exposure to Indian equities via a regulated IFSC vehicle.
Seamless capital mobility
Simplified processes for fund subscription, redemption, and repatriation.
Favourable tax framework
Fund-level taxation on capital gains, with potential treaty efficiency via applicable DTAA.
Streamlined onboarding
Efficient onboarding for NRIs, family offices, and global allocators.
No Indian bank account or PAN
Typically no domestic registration requirement for eligible non-resident investors.
Institutional ecosystem
Governance supported by an independent trustee, custodian, and fund administrator.
Same strategy, two vehicles.
Equitree PMS
Domestic · SEBI-registered
Equitree GIFT AIF
Offshore · IFSCA-registered
Structure & regulation
Vehicle
SEBI-registered Portfolio Management Service
IFSCA Category III AIF (Restricted, Non-Retail)
Regulator
SEBI
IFSCA
Legal entity
Equitree Capital Advisors Pvt Ltd
Equitree Capital Assets Managers IFSC LLP
Jurisdiction
India (Mumbai)
IFSC, GIFT City (offshore regime)
Who can invest
Eligible investors
Indian residents; NRIs with PAN + NRE/NRO
NRIs, foreign nationals, family offices, institutions, corporates
Indian PAN / bank
Required
Not required
Minimum investment
₹1 crore
USD 250,000
How you hold
Holding structure
Segregated, stocks held directly in investor demat
Pooled, investors hold units of the fund
Currency
INR
USD
Subscription / redemption
Flexible (daily)
Monthly
Reporting
Daily NAV, full portfolio visibility
Monthly NAV, annual audited report
Tax & repatriation
Taxation
At investor level (LTCG / STCG on listed equity)
At fund level; potential DTAA efficiency for non-residents
Repatriation for non-residents
Via NRO with FEMA limits
Freely repatriable in USD
A concentrated, conviction-led portfolio.
Median mkt cap
$220m
FY27E EPS growth
20.0%
FY27E P/E
14.0x
FY27E PEG
0.57
10-year P/E
16.5x
Debt-to-Equity
0.27
SECTOR ALLOCATION
| Sector | Weight (%) |
|---|---|
Infrastructure | 23.29% |
Cash | 14.32% |
Engineering Products | 12.62% |
Chemicals & Materials | 10.27% |
Apparel | 9.32% |
Auto Ancillaries | 8.42% |
Agriculture | 8.32% |
Consumer Durables | 6.89% |
Oil and Gas | 5.45% |
Others | 1.10% |
Portfolio characteristics and allocations are illustrative and subject to change. Small-cap investments involve higher volatility and liquidity risk.
A private equity approach to public markets.
STRATEGIC BUSINESS FOCUS
Invest within our circle of competence.
Target 20 to 25% PAT growth over a 5+ year horizon.
Identify inflection points: capacity expansion, product approvals, succession, operating leverage.
Avoid untested business models and speculative new-age companies.
VALUATION DRIVEN INVESTING
Emphasis on PEG, not headline P/E.
Entry when PEG is below 1. Exit when PEG crosses 2.
Businesses available at an attractive discount to 10-year historical valuation.
Uncover mispriced or hidden opportunities below the institutional radar.
MANAGEMENT EXPERTISE
Backing the founder as much as the business.
Multi-decade management track records with deep operational expertise.
Founder ownership typically 50 to 70%, with strong governance standards.
Regular engagement with management on strategic direction and guidance.
KEY PILLARS WE LOOK FOR
Large Market Opportunity
Earnings Growth Compounding
Strong Cash Generation
Deleveraged Balance Sheet
Management Track Record
Valuation Discipline
Fund governance and service providers.
Capital in
Offshore Investors
NRIs · Corporates · Family Offices · Institutions
Capital contributions
Fund Vehicle
Equitree Emerging Opportunities Fund
IFSC LLP · Category III AIF
Custodian
Nuvama Custodial Services Ltd
Trustee
Axis Trustee Services Ltd
FME & Settlor
Equitree Capital Assets Managers IFSC LLP
Fund Administrator
Apex Fincorp LLP
Investments
Parent Entity
Equitree Capital Advisors Pvt Ltd
Deployed capital
Portfolio Companies
Capital flow
Service relationship
Fees
IMPORTANT INFORMATION
Please read carefully before acting on any content on this page.
This document is prepared by Equitree Capital Advisors Private Limited ("ECAPL"), acting through its GIFT IFSC branch Equitree Capital Assets Managers IFSC LLP, in its capacity as Fund Management Entity ("FME") to Equitree Emerging Opportunities Fund (the "Fund"), strictly for informational and confidential purposes. This document does not constitute an offer or solicitation to invest in the Fund. Any investment will be made solely on the basis of the final Private Placement Memorandum ("PPM") and definitive fund documents.
The Fund is registered with the International Financial Services Centres Authority ("IFSCA") as a Restricted Scheme (Non-Retail) Category III Alternative Investment Fund under the IFSCA (Fund Management) Regulations, 2025. Filing of the PPM with IFSCA is for record purposes only and does not imply approval or endorsement by the Authority.
Investments in the Fund involve significant risks, including the possible loss of capital, and there can be no assurance that the Fund will achieve its investment objectives or generate returns. Past performance of the FME, ECAPL, or related strategies is not indicative of future results.
The information contained herein is confidential and may not be reproduced or distributed without prior written consent of the FME. Prospective investors should conduct independent due diligence and consult their legal, tax, and financial advisors before making any investment decision. The FME assumes no obligation to update the information contained herein.
Equitree Capital Assets Managers IFSC LLP
IFSCA Fund Management Entity · ACK-8534