New fund · Financial Services
Veloce AIF raises over 160 crore for second fund
By Startup Enthusiast ·
- Date
- Company
- Veloce AIF
- What it does
- SEBI registered alternative investment fund
- Kind
- New fund
- Amount
- ₹300 crore
- Sector
- Financial Services
What they do
Veloce AIF is a SEBI-registered Category II Alternative Investment Fund that invests in growth-stage businesses using structured debt and equity instruments
What happened
The fund has raised over ₹160 crore of its ₹300 crore target corpus for Veloce Opportunities Fund II from high net worth individuals and family offices
Why it matters
Recent investments include ₹20 crore in Shakti Distilleries and an ₹18 crore commitment to Gupta Foods, with plans to prepare portfolio companies for IPOs
The details
- Veloce AIF is raising capital for its second fund targeting ₹300 crore including a green shoe option.
- The fund has secured commitments exceeding ₹160 crore from limited partners so far.
- Investors include UHNWIs, NRIs, family offices, and business groups.
- Fund I had a corpus of ₹200 crore which was fully deployed across approximately 50 companies.
- The firm recently invested ₹20 crore in Shakti Distilleries via both funds.
- Veloce committed ₹18 crore to Gupta Foods with ₹7.5 crore already deployed.
- Ticket sizes for investments range between ₹5 crore and ₹25 crore.
- The fund targets growth-stage businesses with established revenue models and strong operating discipline.
The bigger picture
- Veloce AIF is part of the Lemon Group.
- It operates as a SEBI-registered Category II Alternative Investment Fund.
- The fund focuses on sectors like fintech, alternate energy, agritech, and manufacturing.
About the business
- Veloce AIF uses structured debt and equity as primary investment instruments.
- It maintains an active role in governance and leadership hiring for portfolio companies.
- The fund strengthens audit processes and operational systems for its investments.
- Portfolio sectors include real estate and asset reconstruction alongside core industries.
- Target profile includes businesses with a credible path to the next growth stage.
- The fund manages a portfolio of approximately 50 companies.
- It employs 7 people according to Inc42 data.
- Nirav Jogani serves as Director and founder with over 30 years of experience.
- Jogani is a chartered accountant with extensive finance and investment background.
What happens next
- The fund aims to complete fundraising for the remaining corpus of Fund II.
- Plans include preparing portfolio companies for IPOs within a 3-4 year horizon.
- Partnership with RSM Astute Consultech will support IPO readiness programs.
The deal
- Type
- fund
Investors
- UHNWIs (limited partner) — High Net Worth Individuals investing in the fund.
- NRIs (limited partner) — Non-Resident Indians investing in the fund.
- Family Offices (limited partner) — Private wealth management firms investing in the fund.
- Business Groups (limited partner) — Corporate entities investing in the fund.
Founders
- Nirav Jogani, Director
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