Monarch Networth Capital raises Rs 252 crore in its second Cat-3 AIF; foraying into MF business
Monarch Alternative Investment Fund (AIF) has raised Rs 252 crore in its second closed-ended cat-3 equity AIF fund. The money was raised from a set of ultra-high net worth individuals, corporates, and family offices. The first fund was launched in October 2020. The company is planning to foray into the mutual fund business.
“With this launch, we are moving a step closer to our aspiration of foraying into mutual fund business; the application will be made to SEBI in this financial year,” said Vaibhav Shah, MD of Monarch Networth Capital.
Monarch Networth plans to infuse Rs 1,000 crore in the next three years. This money is proposed to be utilized in newer businesses such as debt syndication, setting up a bond trading desk, enhancing the Sebi-approved fund-based activities, strengthening the existing business, and complete digitalization of retail broking, according to Vaibhav Shah, MD of
.
Monarch AIF – MNCL Capital Compounder Fund was the top gainer among all AIFs in July 2022, with a market-beating return of 13%, according to the data by PMS Bazaar.
According to Gaurav Bhandari, CEO of
Capital, Monarch sees a huge gap between its broking capabilities and the ability to leverage the same through various fund-based / non-fund businesses.
“We want to stick to our ethos of “value creation,” and along the said lines, we wish to capitalize on our niche retail client base of over 3 lac clients through our well-curated and differentiated research services,” he added.
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