In a strategic expansion of its product offerings, Indian investment management firm Karma Capital has announced the launch of its first open-ended Alternative Investment Fund (AIF), the Karma Capital Jasmine AIF, to target early-stage growth opportunities.  

This new fund, classified as a Category-III AIF, will focus on curating a portfolio of 20–25 companies poised early in their growth cycles, spanning various market capitalisations. The fund's performance will be benchmarked against the BSE 500 Total Returns Index, with a minimum investment threshold set at Rs 1 crore.

Karma Capital, established in 2005 and has over 17 years of investment management experience, aims to cater to domestic ultra-high net worth individuals and their financial advisors with this latest offering. "Karma Capital Jasmine AIF will create a concentrated portfolio of businesses that are financially strong, growing rapidly, and yet undervalued due to prevailing negative narratives," said Rushabh Sheth, Co-Founder and Co-CIO of Karma Capital.

"By investing early in these businesses with a disciplined approach, we anticipate significant earnings growth and valuation re-ratings." Rajnish Girdhar, Karma Capital's CEO, highlighted the strategic importance of this new fund, stating, "Our domestic ultra-high net worth investors already allocate a substantial portion of their assets to Indian equities."

Karma manages assets totalling Rs 6,061 crore across India, the United States, Europe, and the Middle East as of May 2024.

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