Chanakya Opportunities Fund I, a Category II AIF launched by Ahmedabad-based StepTrade Share Services, has announced a significant investment in Optimised Solutions Limited, a digital transformation and product engineering firm also based in Ahmedabad.
The investment, involving an allotment of 2,73,224 shares, is aimed at enhancing the company's capabilities in advanced automation, embedded software, IoT, and digital transformation. The monetary value of the investment was not disclosed.
Optimised Solutions, with over 18 years of experience, specializes in providing test, measurement, and automation solutions tailored for the aerospace and defense industries. The company plans to leverage this funding to meet the high demands of these critical sectors and is preparing for an IPO in 2025-2026, according to a news release by StepTrade Share Services.
Kresha Gupta, Director and Fund Manager at StepTrade Share Services, emphasized the broader impact of this investment, stating, " Through this investment, StepTrade is not only supporting a promising SME but also contributing to the broader growth of the Aerospace and Defence sectors, in line with government priorities."
Aiming to help investors unlock the potential of small and mid-sized companies, StepTrade offers a range of SEBI-registered Alternative Investment Funds (AIFs) across Categories I, II, and III, along with Portfolio Management Services (PMS). According to StepTrade Share Services, Chanakya Opportunities Fund I achieved 70% (as on June, 2024) absolute return over the past year. Additionally, Steptrade Revolution Fund, a the Category III AIF, has delivered XIRR of 65% within just two months of its inception.
Meanwhile, StepTrade has received approval to establish its Global Fund office in the Special Economic Zone (SEZ) at GIFT City, Gandhinagar. The anticipated launch of a Rs 1000 crore India-focused fund will emphasize investments in Small Cap and Micro Cap segments, marking a strategic expansion in the SME-exchange space, according to the release.
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