Launch · Professional & Local Services

Kyro Capital launches ₹100 crore pre-IPO fund

What they do

Kyro Capital is an Indore-based financial services group providing investment banking and advisory

It launched Kyro India Opportunities Fund – I, a SEBI-registered Category II AIF with a ₹100 crore target

The fund targets a 35% IRR and will invest in profitable Indian companies planning an IPO within 24-36 months

Kyro Capital launched Kyro India Opportunities Fund – I, a SEBI-registered Category II AIF (a type of alternative investment fund that can invest in unlisted companies).
The fund has a target corpus of ₹100 crore.
It aims for an IRR of 35% (internal rate of return, a measure of profitability).
The fund will invest in profitable Indian companies that have an IPO pathway within 24-36 months.
The fund tenure is 5 years, extendable by 2 years.
Focus sectors include energy & power, renewables, energy storage, advanced manufacturing, aerospace & defence supply chains, consumer businesses, and FMCG.
The fund may also do secondary transactions (buying shares from existing investors before an IPO).
The fund targets a first close by July 2026 and a final close before June 2027.

The launch marks Kyro Capital's entry into asset management from advisory.
It reflects growing investor interest in pre-IPO opportunities in India as the startup ecosystem matures.
The fund is in discussions with HNIs, promoters of advised companies, and European family offices for commitments.
Kyro Capital plans to expand its India Opportunities platform with additional funds and explore overseas markets like South Korea, Taiwan, and Germany in sectors like semiconductors and precision manufacturing.

Kyro Capital is an Indore-based financial services group founded in 2024 by Aman Maheshwari.
It provides investment banking and transaction advisory services.
The group's investment arm is Kyro Asset Management Private Limited, which manages the new fund.
The company has a sponsor commitment of ₹2.5 crore in the fund.
The minimum LP (limited partner, an investor in the fund) commitment is ₹1 crore.
The fund has a hurdle rate of 10% per annum (the minimum return before the fund manager earns a performance fee).

The fund targets a first close by July 2026 and a final close before June 2027.
Kyro Capital plans to expand its India Opportunities platform with additional funds.
It plans to explore overseas markets (South Korea, Taiwan, Germany) in semiconductors, precision manufacturing, and energy transition.