JM Financial Asset Mgt launches ₹1,500 crore pre-IPO fund
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Amid a sustained boom in initial public offerings (IPOs) and a surge in late-stage private market activity, JM Financial Asset Management Ltd has launched its maiden ₹1,500 crore Pre-IPO Alternative Investment Fund (AIF), marking a strategic expansion into the fast-growing pre-listing investment space.
Approved by the Securities and Exchange Board of India (Sebi), the Category II fund aims to back companies on the cusp of going public, positioning the firm to capitalise on India’s next wave of listings.
The launch of the Pre-IPO fund marks a significant step in the company’s vision to build a comprehensive AIF ecosystem aimed at supporting India’s next wave of enterprise growth. The platform is structured to provide specialised capital solutions across credit, real estate, and pre-IPO opportunities.
In a statement, the company said the launch represents a significant step in its vision to build a comprehensive AIF ecosystem designed to support the country’s next phase of enterprise growth. The broader platform is structured to provide specialised capital solutions across credit, real estate and pre-IPO opportunities.
Leveraging the equity capital markets expertise of the wider JM Financial Group, the Pre-IPO fund will focus on investing in companies expected to list within the next 18 months. Pre-IPO investing has increasingly emerged as a compelling avenue for generating superior risk-adjusted returns, particularly as India’s startup ecosystem and private markets deepen and mature.
The fund will be led by Jaisinh Suchak, Managing Director – Alternative Investment Funds at JM Financial Asset Management, who brings over 23 years of experience in financial services, including more than a decade of buy-side expertise.
“We are pleased to introduce our first Pre-IPO Fund under Category II AIF at a time when private markets in India are demonstrating structural depth and maturity. This fund will leverage the strength and synergy of JM Financial’s integrated ecosystem to create a differentiated investment platform,” said Vishal Kampani, Vice Chairman and Managing Director, JM Financial.
He noted that with more than 1,600 registered AIFs and total commitments reaching ₹15.05 lakh crore as of September 2025, the AIF industry is emerging as a key enabler of India’s capital formation. Rising domestic participation, greater investor sophistication and a supportive regulatory framework are continuing to fuel this momentum, he added.
With the introduction of its first Pre-IPO AIF, JM Financial Group is further diversifying its private equity offerings and reinforcing its position as a trusted investment partner, aiming to leverage deep market insights, strong governance standards and proven fund management capabilities to unlock differentiated opportunities in India’s evolving private markets landscape.