Steptrade Capital achieves first close of Chanakya Opportunities Fund II with over Rs 100 Cr commitments Steptrade Capital has achieved the first close of its Category II Alternative Investment Fund (AIF), Chanakya Opportunities Fund II (COF II), securing investor commitments of over Rs 100 crore within three months of its launch. Launched in February 2026 with a target corpus of Rs 500 crore, the fund focuses on investing in pre IPO and growth stage companies across advanced manufacturing, energy transition, and emerging technologies. According to the Ahmedabad based fund manager, the first close attracted commitments from ultra high net worth individuals, family offices, and other eligible investors. Capital deployment is scheduled to begin in August, and the fund has opened its next allocation window for additional investors. Chanakya Opportunities Fund II is managed by CA Kresha Gupta and CA Akshay Dawra. It follows the firm’s first fund, which focused on investments in companies preparing to list on India’s SME exchanges. The new fund will invest across three themes: advanced manufacturing, including electronics, semiconductors, defence, and speciality chemicals; energy transition and infrastructure, including battery storage, electric vehicles, power transmission, and data centres; and emerging technologies such as AI, robotics, digital healthcare, and bio manufacturing. The fund targets companies benefiting from India’s manufacturing growth, technology adoption, and energy transition. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
