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    StepTrade Revolution Fund II

    StepTrade Revolution Fund II

    A Category III Close Ended Alternative Investment Fund focusing on SME and Microcap investments.

    Alternative Investment Fund (AIF)

    Listing Summary

    • Maturity Date: 3 years from first close; Extendable by 2 years
    • Payments (Coupon Rate): Not specified
    • Yield % (Indicative IRR): 43.16% as of 31st Dec 2024
    • Minimum Investment: INR 1 Crore

    Detailed Overview

    Fund Basics

    • Fund Type: Category III
    • Fund Focus: SME and Microcap investments
    • Stage of Investment: Pre-IPO, Anchor, and QIB investments
    • Target Geography: Domestic

    Investment Strategy

    • Sector Focus: SME and Microcap sectors
    • Thematic Focus: Not specified
    • Investment Style: Active Management
    • Risk Profile: High-risk

    Fund Structure

    • Fund Size: INR 500 Crore with a Green shoe of INR 500 Crore
    • Commitment Period: 5 drawdowns till 31st March, 2026
    • Capital Lock-in Period: 3 years extendable by 1 year +1 year
    • Minimum Ticket Size: INR 1 Crore
    • Sponsor Commitment: INR 10 Crore or 5% whichever is lower

    Fund Performance

    • Net NAV Returns: Current NAV ₹134.8270
    • Hurdle Rate: 12% p.a. Pre-tax & Post Expenses
    • Past Performance: IRR of 43.16% as of 31st Dec 2024
    • Benchmarked Returns: Not specified

    Expense Ratio & Fees Analysis

    • Management Fees: 2.50% p.a. for Class A1
    • Performance Fees: 20% (No Catch Up)
    • Other Expenses: Capped at 0.25% per annum of the average daily NAV

    Governance & Management Team

    • Fund Managers: StepTrade Share Services Private Limited
    • Decision-making Process: Not specified
    • Auditors & Service Providers: ICICI Bank Limited, CAMS
    • Disclosure Standards: Not specified

    Legal, Compliance & Investor Protection

    • Regulatory Approvals: SEBI Reg. No: IN/AIF3/23-24/1330
    • Taxation Aspects: Taxed at fund level as per normal tax returns
    • Investor Grievance Redressal: Not specified

    Valuation & Liquidity Considerations

    • NAV Valuation Methodologies: Not specified
    • Liquidity Options: Redemption post lock-in period
    • Alignment with Investor Goals: Capital appreciation
    • Risk Appetite Suitability: High-risk investors

    Miscellaneous

    • Fund Launch Date: March 2024
    • Co-investment Opportunities: Not specified
    • ESG Score: Not specified
    • Fine Print on Fund Tenure & Extension Options: Extendable by 2 years
    Last updated at: 7/2/2025, 7:16:16 PM

    Investment Summary

    Minimum Investment₹1.00 Cr
    Expected IRR43.16%
    Asset TypeAIF


    • This fund is ideal for aggressive investors seeking exposure to India's booming SME and Microcap ecosystem.

    • High-return potential comes with elevated market and liquidity risk due to the nature of Pre-IPO and SME investments.

    • Drawdowns are scheduled quarterly till March 2026, offering a staggered capital deployment.

    • Lock-in of 3 years ensures focused, long-term investment strategy; redemption possible post-lock-in.

    • Strong emphasis on process-driven, research-backed selection with sectoral and platform diversification.

    • Investors should consider tax implications at the fund level and consult with a financial advisor.

    • Access to portfolio and performance tracking is enabled via a dedicated investor portal.

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