Chennai-based venture capital firm Unifi Capital has taken a significant stride in the global investment landscape by introducing two new funds in the International Financial Services Centre (IFSC) situated within GIFT City, Gujarat.
Through its subsidiary, Unifi Investment Management LLP (UIML), Unifi Capital has unveiled these funds to leverage the abundant investment opportunities available on the global stage.
The first fund, named the Rangoli India Fund, operates as an inbound Cat III Alternative Investment Fund (AIF) registered with the Securities and Exchange Board of India (SEBI) as a Category 1 Foreign Portfolio Investor (FPI). This fund is strategically positioned to target Indian enterprises poised to benefit from the burgeoning middle class, the formalization of the informal sector, and the emergence of national competencies.
In parallel, the second fund, known as the G20 Portfolio, is an Outbound Portfolio Management Service (PMS) currently in the developmental phase. This initiative aims to introduce 20 global businesses to High Net Worth Individuals (HNIs) in India, empowering them to diversify their investment portfolios globally and optimize risk-adjusted returns.
Sarath Reddy, the founder and Chief Investment Officer (CIO) of Unifi Capital, expressed the strategic significance of establishing Unifi IM. He highlighted its pivotal role in enhancing the firm’s international capabilities, positioning Unifi to capitalize on India’s growing integration with global investment markets.
Moreover, Krishna Prassad, the CEO and principal officer of UIML, emphasized the recent regulatory developments facilitating 100% Non-Resident Indian (NRI) investment for FPIs operating within GIFT City. This regulatory milestone aligns with Unifi’s vision to provide seamless investment opportunities for its diverse clientele, enabling direct investment in concentrated Indian portfolios and facilitating access to international markets.
Established in 2001, Unifi Capital has been at the forefront of offering innovative investment strategies aimed at delivering superior risk-adjusted returns. With a comprehensive suite of portfolio management services, alternative investment funds, and international investment avenues, Unifi has established itself as a leader in the investment management landscape.
The launch of these funds coincides with the government’s concerted efforts to bolster the GIFT City project’s success. Recent initiatives, such as the collaboration between the central government and the Asian Development Bank (ADB) to promote fintech research and innovation, underscore the growing momentum of GIFT City as a premier financial hub.
Additionally, regulatory measures facilitating the direct listing of Indian companies on GIFT City exchanges have further solidified its position as a gateway for global capital and financial services. The 10-year tax holiday and zero taxes on fund transfers from overseas have positioned GIFT City as an attractive destination for fund management activities, attracting substantial investments from both domestic and international players.
As GIFT City continues to flourish, Unifi’s foray into the global investment landscape exemplifies its commitment to navigating the evolving dynamics of the financial markets and unlocking new avenues of growth and prosperity.
