JM Financial AMC's pre-IPO fund: A ₹1,500-cr bet on India's next big IPOs

The Pre-IPO Fund will focus on investing in companies that are expected to list within 18 months, a move expected to align with the growing interest in IPO-bound startups

JM Financial Asset Management has launched its first ₹1,500 crore pre-IPO Alternative Investment Fund (AIF) under Category II, marking an expansion of the firm’s AIF division into the rapidly growing Pre-IPO investment space. A Pre-IPO Fund refres to an investment vehicle that focuses on funding private companies expected to go public (via an IPO) within the next 12 to 18 months. It allows investors to buy equity in these companies before they list on the stock exchange.

 

The announcement came after the asset management company received approval from the securities and exchange board of India (Sebi) for its Pre-IPO fund, strengthening its entry into the space.

 

 

"The launch of the Pre-IPO Fund is a key milestone in JM Financial’s vision to establish a comprehensive AIF ecosystem that will support India’s next wave of enterprise growth. This platform is designed to offer specialised capital solutions across credit, real estate, and pre-IPO opportunities," said JM Financial in a statement.

 

The pre-IPO Alternative Investment Fund (AIF) Fund will focus on investing in companies that are expected to list within 18 months, a move expected to align with the growing interest in IPO-bound startups.

 

The fund will be managed by Jaisinh Suchak, managing director - Alternative Investment Funds, JM Financial Asset Management.

 

Commenting on the launch, Vishal Kampani, vice chairman and managing director, JM Financial, said, "This fund will leverage the strength and synergy of JM Financial’s integrated ecosystem to create a differentiated investment platform. With over 1,600 registered AIFs and total commitments touching ₹15.05 trillion as of September 2025, the AIF industry is emerging as a crucial enabler of India’s capital formation. Rising domestic participation, increased investor sophistication, and a supportive regulatory environment continue to fuel this momentum."