We invest in small companies to generate significant returns. Our expertise lies in spotting, evaluating & investing in promising small & medium enterprises. We focus on high-growth small-cap companies in the SME sector, where opportunities for earnings growth are unparalleled. By combining this with a disciplined approach to downside valuation and strong fundamentals, we aim to deliver sustainable and rewarding investment outcomes.
At VentureX we believe that amidst countless market theories, one truth stands out clearly: the share price succeed its earnings and value creation potential. This principle, proven time and again through the history of stock markets, forms the foundation of our investment philosophy.
Our focus is on high-growth small-cap companies in the SME sector, where opportunities for earnings growth are unparalleled. By combining this with a disciplined approach to downside valuation and strong fundamentals, we aim to deliver sustainable and rewarding investment outcomes.
• At VentureX, we believe in backing the visionaries driving India’s growth story. As the nation moves toward becoming one of the top three global economies and a key contributor to world GDP, we focus on businesses that exemplify resilience, innovation, and entrepreneurial excellence.
• Consider Waaree Renewable Technologies, which leveraged its SME listing to emerge as a renewable energy leader during India’s clean energy transition. Or Thejo Engineering, the first company to list on NSE Emerge, which utilized the platform to access capital and scale its innovative engineering solutions. These companies demonstrate the entrepreneurial grit and adaptability that align perfectly with our investment philosophy.
We prioritize businesses with strong execution history, a competitive moat, and clear growth visibility favoured by sectoral tailwinds. Our disciplined approach ensures a balance between downside protection and maximizing long-term returns.
We invest not just in numbers but in narratives, drawing inspiration from the entrepreneurial spirit to emulate their vision. Embracing this perspective, we strive to invest with the foresight and determination that define entrepreneurial success.
This framework focuses on identifying SMEs with strong competitive advantages (moats), capable leadership, and a history of value creation, all at a reasonable price.
We start by building a strong thesis around a company using our proprietary LMVT framework. This framework allows us to identify businesses with solid fundamentals, scalable models, and a clear path to long-term value creation.
Timing is critical, and we strive to enter as early as possible, often at the pre-IPO or IPO stage. This ensures we position at the beginning of a company’s growth curve, maximizing the potential for returns as the business scales.
Our exit strategy is guided by clear principles. We step away when growth expectations are not met, when valuations become unreasonably high, or when corporate governance issues arise. These criteria help us preserve capital and maintain discipline in our investment decisions.
Our team consists of seasoned investment professionals, analysts, and strategists dedicated to helping you navigate the world of AIFs. With a wealth of
experience in financial markets, wealth management, and alternative assets, we bring expertise, innovation, and trust to every investment decision.
Rajesh Singla brings 14 years of professional experience, including six years of specialized asset and wealth management expertise. With a proven track record of advising over 10,000 investors across private equity, SMEs, and Pre IPOs, he has established himself as a trusted leader in the investment domain.
At the core of his investment philosophy is a focus on delivering risk-adjusted returns. The inaugural fund under his leadership is SME-focused, leveraging the historical outperformance of SME funds to maximize value for investors.
Under Mr. Singla's stewardship, Planify has achieved 32+ successful portfolio exits, driving exceptional growth from ₹3.2 crore to ₹21 crore and delivering an impressive 114% annualized return. Additionally, he has successfully led fundraising efforts for 15 SMEs across various sectors, securing significant capital for high-growth ventures.
With prior roles at technology giants, Mr. Singla combines technical acumen with strategic vision, positioning himself as a thought leader in investing and entrepreneurial growth.
Ishima Singla, CFA Level 1 and MBA (Finance & Accounting), is a finance professional with 12+ years of expertise in private equity valuation and financial analysis. As Chief Investment Officer at VentureX, she leads the financial analyst team, conducting due diligence on SMEs and identifying hidden opportunities in the private markets.
Previously, Ishima spent a decade at Ernst & Young, advancing to Associate Manager and specializing in business valuation, purchase price allocation, and financial statement analysis. She has conducted due diligence for over 2,500 SMEs/Mainboard and mentored founders at prestigious institutions like IIT Kanpur, Delhi, IIM Lucknow, and GIMs.
Maneesh Nath, with over 20 years of experience in equity research and portfolio management, has managed Passage To India Opportunity Fund (PTIOF) at Arcstone Capital, a globally top-ranked small-cap hedge fund.
His top value picks, such as Jyoti Resins and Astral, have delivered exceptional returns of 50x to 100x.
He was ranked as the No. 1 fund manager across its category on Preqin, which consolidates over 50,000+ AIF’s data.
Given the consistent outperformance, even a modest allocation to SME’s within a portfolio has the potential to significantly boost overall returns and push them towards superior, risk-adjusted performance.
Analysis of both absolute returns and Compound Annual Growth Rates (CAGR) over a 6-year period, demonstrates a compelling trend: Small and Mid-sized Enterprises (SMEs) have consistently surpassed the performance of established benchmarks like the Nifty 50 and the Nifty Small Cap 100.
This superior performance translates into positive alpha, a key metric indicating an investment's ability to generate returns that exceed those of the broader market. In simpler terms, by investing in SMEs, shareholders have enjoyed significant returns that outperform the market average.
"It's not the big that eats the small – it's the fast that eats the slow." - Ishmael Khalidi
SME Listings
Migrated to Mainboard (~30%)
# of companies giving more than 33.42% CAGR
Average Time for Migration to Mainboard
Name | Listing Date | Listing Price(₹) | Current Price(₹) | Holding period(Yrs) | Absolute Return | CARG Return |
|---|---|---|---|---|---|---|
Aditya Vision Ltd | 12 Dec 2016 | 15 | 4,409 | 7.7 | 29,293% | 110% |
Insolation Energy Ltd | 10 Oct 2022 | 38 | 3,108 | 1.8 | 8,079% | 986% |
Waree Renewable Technologies Ltd | 09 Aug 2012 | 22 | 1,502 | 12.0 | 6,726% | 42% |
Suyog Telematics Ltd | 22 Jan 2022 | 25 | 1,455 | 10.6 | 5,719% | 47% |
Nintec Systems Ltd | 18 Apr 2016 | 10 | 506 | 8.3 | 4,964% | 60% |
We invest in high-growth small-cap companies within the SME sector, focusing on their potential for substantial earnings growth. A disciplined evaluation of valuation and fundamentals ensures consistent and sustainable results.
We target emerging sectors with limited competition, prioritizing businesses capable of gaining market share during high-growth phases. Investments are made at attractive valuations compared to listed peers.
Our approach emphasizes multiple clear exit opportunities, typically within 6 months to 5 years, ensuring optimized returns and portfolio liquidity.
We seek companies led by experienced management with proven track records, strong promoter backing, and strategic growth potential, ensuring alignment with long-term value creation goals.
Every investment undergoes detailed analysis, focusing on competitive strengths, expansion plans, and financial health to ensure sustainable growth and resilience.
Investing in India's booming SME sector, fueled by government support and poised for explosive growth, could be a game-changer for your portfolio.
India's SME sector has been a powerhouse of progress for years, steadily contributing a significant 30% to the nation's GDP. Now, with the government's booster shot of pro-SME policies – easier loans, tax benefits– the future is even brighter!
As India races to become $ 7 trillion by 2030, SMEs are primed to be game-changers, delivering exceptional performance and helping India become a thriving export hub.
Section 43B(h) ensures payment to SME suppliers within 45 days
₹ 5 lakh Cr through (ECLGS)
₹ 50,000 crore equity infusion through SME Self-Reliant India Fund
Make in India, ODOP, PLI and other schemes to benefit SME growth
India is expected to cross the $5 trillion mark by 2026-27 and likely to remain the fastest growing large economy
Rising disposable income in India is leading to a surge in domestic consumption. This translates directly into increased sales and growth for SMEs.
India's young population is a massive consumer base, creating a ready market for SMEs. "China + 1" strategy: As companies look to diversify their supply chains beyond China, India presents a promising alternative, opening doors for Indian SMEs.
India's current export share falls well below the global average for large economies. This presents a lucrative trillion-dollar opportunity for SMEs to expand their reach and tap into new markets.
This framework focuses on identifying SMEs with strong competitive advantages (moats), capable leadership, and a history of value creation, all at a reasonable price.
This framework focuses on identifying SMEs with strong competitive advantages (moats), capable leadership, and a history of value creation, all at a reasonable price.
Our success is driven by an exceptional team of industry experts, analysts, and investment professionals dedicated to delivering superior results.
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Waaree Energies Ltd.
Investment Rationale
High-growth Emerging sector
Leader ex-China
Ability to Scale Up
Experienced Entrepreneur
Target Backward Integration
Focus on Exports
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National Stock Exchange
Investment Rationale
Market Leader
Increase in Active User Base
Under Penetration of the Capital Market
Focus on Revenue Diversification
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Nayara Energy Ltd
Investment Rationale
Dominant Market Share
Integrated Business Model
Macro-driven Profit Surge
Robust Parental Backing
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Quadrant FutureTek Ltd
Investment Rationale
High Growth Sector
Experienced Entrepreneur
Government Support (Kavach)
Strong Order Book
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Hindusthan Engineering & Industries Ltd
Investment Rationale
Rapidly Growing Market
Investments in Mass Transit Systems
Focus on exports
Strong Execution of Orders
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Anand Rathi Wealth Ltd
Investment Rationale
Recurring Revenue Dominance
In-House Research Expertise
High Customer Retention Rates
HNI-Centric Approach
Scalable Business Model
Well-Diversified Asset Mix
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NNT Developers Pvt Ltd
Investment Rationale
Legacy Business
Robust Order Book
Policy Impetus
Dominance in Niche Sectoral Expertise
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TBI Corn Ltd
Investment Rationale
Health-Conscious Demand
Increased Production Capacity
Diverse Product Portfolio
Efficient Working Capital Use
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Mohan Meakin Ltd
Investment Rationale
Trusted Brand
Self-Funded Expansion
Beverage Diversification
Operational Excellence
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Orbis Financial Corporation
Investment Rationale
Specialized Security Services
Capital-Backed Growth
Strong Expansion of Assets under Custody
Reasonable Valuation
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Ecosure
Investment Rationale
Eco-friendly sector
Focusing on Expansion
Investments in Sustainability and Safety
Sizeable Order Book
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Deepak Houseware
Investment Rationale
Rapidly Emerging Sector
Ability to rapidly scale up
Policy Push (PLI Scheme)
Strategic Partnerships
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Madhur Iron and Steel
Investment Rationale
Impressive Growth Trajectory
Strategic Client Base
Operational Efficiency
Capacity Expansion Leadership
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JSR Dynamics Pvt. Ltd.
Investment Rationale
Sizeable Order Book
Highly Experienced Leadership
Niche Industry
Prestigious Clientele
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Pace Digitek Pvt. Ltd.
Investment Rationale
Explosive Growth
Robust Margins
Strategic Leadership
IPO Upside
Our success is driven by an exceptional team of industry experts, analysts, and investment professionals dedicated to delivering superior results.
Proposed name of the AIF and Scheme | Venture X Fund |
Proposed Size of the Fund | 500 Crores |
Size of the Green Shoe (Optional) | 500 Crores |
Tenure of the Fund | 500 Crores |
First Closing of the fund | 3 Months from Registration |
Final Closing of the fund | 3 Years from date of first close |
Money Call | 10 Lakhs/Qtr. (40 Lakhs/yr, 1 Cr in 2.5 years) |
Investor Commitment Period or Drawdown Period | Up to 3 Years from the date of final close |
Exit | Distribution Waterfall: When a company profit is booked from portfolio companies and needs to be distributed to all Limited Partners (LP) investors |
Redemption (post Exit Load) | Monthly, to be executed only in case of investors have given 100% commitment |
Fund Investment Theme | SME (Anchor Investment Placement & Secondary Investment) |
Proposed investment by Sponsor/ Investment | Close Ended, Long-Only Cat-1, Alternative Investment Funds |
Our success is driven by an exceptional team of industry experts, analysts, and investment professionals dedicated to delivering superior results.
Classes | E1 | E2 | E3 | E5 | E10 | E25 | E50 |
|---|---|---|---|---|---|---|---|
Minimum Capital | 1 Cr | 2 Cr | 3 Cr | 5 Cr | 10 Cr | 25 Cr | 50 Cr |
Management Fees | 2% | 2% | 2% | 1.75% | 1.50% | 1.25% | 1.00% |
Setup Fees | 0.05% | 0.25% | 0% | 0% | 0% | 0% | 0% |
Opex | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Hurdle Rate | 12% | 12% | 12% | 12% | 12% | 12% | 12% |
Carry | 80% | 80% | 80% | 80% | 85% | 90% | 90% |
Catchup | 25% | 25% | 25% | 25% | 25% | 25% | 25% |
Picture this: You start with an investment of ₹1,000 crore and it doubles to ₹2,000 crore in just 1 year. Exciting, right? Let’s break it down step by step and analyze the returns for unit holders.
Particular | Investor | Investment Management |
|---|---|---|
Towards 100% repayment of capital contribution for unit holders | 1000 | |
Toward hurdle rate (12%) on capital invested | 120 | |
Towards catch up rate on capital invested (25%) | 30 | |
Allocation of distribution proceeds in excess of capital contributed hurdle rate and catch-up to unit holders of each class (carry) | 680 | 170 |
Total distribution being made to unit holders excluding capital | 800% | 200% |
Total distribution being made to unit holders | 1800 | |
Net Absolute Returns in 5 years | 80 | |
CAGR Returns | 80% |
Now, picture the same ₹1,000 crore multiplying 5x to become an impressive ₹5,000 crore in 5 years. What does this mean for investors? Let’s dive into the distribution and understand the net gains.
Particular | Investor | Investment Management |
|---|---|---|
Towards 100% repayment of capital contribution for unit holders | 1000 | - |
Toward hurdle rate (12%) on capital invested | 762 | - |
Towards catch up rate on capital invested (25%) | - | 191 |
Allocation of distribution proceeds in excess of capital contributed hurdle rate and catch-up to unit holders of each class (carry) | 2438 | 609 |
Total distribution being made to unit holders excluding capital | 3200 (80%) | 800 (20%) |
Total distribution being made to unit holders | 4200 | - |
Net Absolute Returns in 5 years | 3200 | - |
CAGR Returns | 33% | - |
Reach out to us for personalized investment advice tailored to your financial goals.
Everything You Need to Know About Planify & Venture X
MiQB, Plot 23, Sector 18 Maruti, Industrial Development Area,
Gurugram, Haryana 122015
Registration Details
Name of the Fund:
VENTUREX FUND
SEBI Registration No.:
IN/AIF1/24-25/1565
Name of Fund Manager:
Rajesh Singla
Maneesh Nath
Ishima Singla
Mutual Fund License No.
ARN-164419
IRDA Code (1):
ABLIC1003123454
IRDA Code (2):
ABLIC1003131639
Startup India CertificateNo.:
DIPP93786
Contact Us
help@alpha.in
help@alpha.in
+91-93-1137-8007
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