About Company
VentureX
VentureX is dedicated to high-growth opportunities within the SME sector, recognizing unparalleled potential for earnings growth. The company's investment philosophy is firmly grounded in the timeless principle that share prices align with earnings and value creation potential. By combining this approach with a disciplined focus on downside valuation and strong fundamentals, VentureX strives to deliver sustainable and rewarding investment outcomes. VentureX is committed to supporting visionaries at the forefront of India's growth story. As the nation advances toward becoming one of the top three global economies, VentureX identifies resilient, innovative businesses that embody entrepreneurial excellence. Companies such as Waaree Renewable Technologies and Thejo Engineering, which have leveraged SME listings to achieve remarkable success, demonstrate the entrepreneurial drive and adaptability that align with VentureX's values. VentureX prioritizes businesses with a strong execution history, competitive moats, and clear growth trajectories, particularly those bolstered by sectoral tailwinds. Their disciplined approach ensures a balance between mitigating risks and maximizing long-term returns. With a deep appreciation for entrepreneurial stories, VentureX invests not only in numbers but also in the transformative narratives behind them.
What Is VentureX Fund I Category I AIF?
VentureX Fund I (also searched as Venture X Fund 1) is a SEBI-registered, close-ended Category I Venture Capital AIF from Alpha AMC that invests in India's small and medium enterprises (SMEs). The VentureX SME Fund backs growth-stage businesses before and around their listing, through pre-IPO rounds, SME IPO anchor allocations and listed SME opportunities. It is registered with SEBI as IN/AIF1/24-25/1565 under VentureX Trust.
The fund picks companies using its LMVT framework (Leadership, Moat, Valuation and Tailwinds). It looks for SMEs with scalable models, high promoter holding and the potential to move from the SME exchange to the mainboard.
VentureX Fund I: Key Facts
| Particular | Details |
|---|---|
| Fund | VentureX Fund I (Alpha VentureX SME Fund) |
| Fund House | Alpha AMC |
| Sponsor | Alpha Ventures Pvt Ltd (formerly Planify WealthX Pvt Ltd) |
| Investment Manager | Planify Venture LLP |
| Trust | VentureX Trust |
| SEBI Registration | IN/AIF1/24-25/1565 |
| Category | Category I AIF – Venture Capital Fund |
| Structure | Close-ended |
| Target Corpus | ₹1,000 crore (May 2026 update; the PPM's original target was ₹250 crore plus a ₹250 crore green shoe) |
| Commitments Raised | ₹223 crore (as of 30 April 2026) |
| Inception / First Close | 1 January 2025 / 28 February 2025 |
| VentureX Fund Tenure | 10 years from first close, extendable by up to 2 years |
| Commitment Period | 24 months from final close, extendable by up to 12 months |
| Minimum Investment | ₹1 crore |
| Management Fee | Up to 2% p.a., lower for larger commitments (1.75% at ₹5 crore down to 1% at ₹50 crore) |
| Hurdle Rate | Up to 12% p.a. (pre-tax, compounded annually) |
| Sponsor Commitment | 2.5% of corpus or ₹5 crore, whichever is lower |
| Investment Focus | SMEs at pre-IPO, IPO and listed stages; at least 75% in unlisted equity of venture capital undertakings |
| Fund Managers | Rajesh Singla (Founder & CEO), Ishima Singla (CIO), Maneesh Nath (Portfolio Manager) |
Data as of the VentureX Fund I PPM and Alpha AMC updates to April 2026. Confirm the latest terms before investing.
Who Manages VentureX Fund? Alpha AMC and the Fund Team
VentureX Fund is managed by Alpha AMC, a New Delhi-based alternative asset manager founded by Rajesh Singla. The fund's sponsor is Alpha Ventures Pvt Ltd, formerly Planify WealthX Pvt Ltd, and the investment manager is Planify Venture LLP. This is why earlier news coverage calls it "Planify's VentureX Fund" and more recent coverage calls it the "Alpha VentureX SME Fund".
| Name | Role |
|---|---|
| Rajesh Singla | Founder, CEO & Fund Manager |
| Ishima Singla | Chief Investment Officer & Fund Manager |
| Maneesh Nath | Portfolio Manager & Fund Manager |
VentureX Fund Portfolio: SME Holdings and Deployment
As of 30 April 2026, VentureX Fund had invested over ₹90 crore across 34 high-growth SMEs, from ₹223 crore of investor commitments. Disclosed portfolio companies include JD Cables, Alpex Solar and Accent Microcell. The fund's listing describes capital spread across AI, chemicals, manufacturing, defence and consumer businesses.
VentureX Fund I also takes part in SME IPOs as an anchor investor, so its holdings change as companies list or are exited. Investors should ask for the latest factsheet for the full VentureX Fund portfolio.
| Portfolio Metric | Status (30 Apr 2026) |
|---|---|
| Commitments | ₹223 crore |
| Capital invested | ₹90 crore+ |
| Number of SMEs | 34 |
| Disclosed holdings | JD Cables, Alpex Solar, Accent Microcell |
| Fund target | ₹1,000 crore |
Holdings are disclosed for information only and are not a recommendation. Past performance does not guarantee future results.
VentureX Fund I Investment Strategy
The VentureX Fund investment strategy focuses on SMEs at every stage of their public-market journey, from pre-IPO rounds to SME IPOs and listed SME shares. The VentureX SME Fund can invest in:
- pre-IPO rounds
- SME IPOs as an anchor or QIB investor
- secondary transactions
- listed SME shares
As a Category I Venture Capital AIF, it must invest at least 75% of its investible funds in unlisted equity or equity-linked instruments of venture capital undertakings. No more than 25% can go to any single company.
The fund looks for growth-stage businesses with:
- scalable models and strong fundamentals
- high promoter holding
- competitive advantages
- sectoral tailwinds
- potential to migrate to the mainboard
Because much of the strategy works before listing, investors should understand the valuation, liquidity and exit risks of pre-IPO and unlisted shares.
How the VentureX LMVT Investment Framework Works
The VentureX LMVT framework scores every SME on four factors: Leadership, Moat, Valuation and Tailwinds.
- Leadership: promoter quality, business experience and execution capability.
- Moat: a defensible competitive advantage, such as pricing power, patents, licences or economies of scale.
- Valuation: discipline on P/E, PEG and EV/EBITDA, with a margin of safety.
- Tailwinds: structural demand, industry growth and sector trends that support the business.
VentureX SME Screening and Forensic Due Diligence Process
VentureX combines fundamental research with forensic due diligence before committing capital to any SME.
The financial review covers:
- financial performance and cash-flow quality
- debt and margins
- promoter holding
- scalability
The forensic checks cover:
- corporate governance and accounting practices
- related-party transactions
- litigation
- promoter pledges
On-ground research, such as channel checks and factory visits, helps confirm that reported growth is real and sustainable.
How VentureX Fund I Builds and Manages Its SME Portfolio
VentureX Fund I builds a diversified SME portfolio, spread across many companies and sectors with a cap on any single position. By April 2026 the portfolio held 34 SMEs.
Positions are reviewed when:
- the original investment thesis changes
- growth weakens
- valuations become stretched
- governance concerns emerge
VentureX Fund I Exit Strategy and Distribution Waterfall
VentureX Fund exits come mainly through IPOs, SME-to-mainboard migration, secondary sales and other permitted routes, timed to valuation and available liquidity. A company moving from the SME exchange to the mainboard typically gains visibility and institutional participation, which can create an exit window.
Realised proceeds are distributed through a waterfall. Investors first receive their contributions plus a hurdle return of up to 12% p.a. (pre-tax, compounded annually). After that, the investment manager receives its additional return (carried interest) with catch-up, as set out in the PPM.
VentureX Fund I Minimum Investment, Fees and Drawdowns
The VentureX Fund minimum investment is ₹1 crore, in line with SEBI's minimum for AIF investors. Fees depend on commitment size:
| Commitment | Management Fee (p.a.) |
|---|---|
| ₹1–3 crore | Up to 2% |
| ₹5 crore | 1.75% |
| ₹10 crore | 1.50% |
| ₹25 crore | 1.25% |
| ₹50 crore | 1.00% |
Other charges:
- Setup expenses: up to 0.50% for ₹1 crore commitments and up to 0.25% for ₹2 crore.
- Operating expenses: capped at about 0.10% for most unit classes.
Capital is called through drawdown notices and is due within 15 business days of each notice. Investors should keep enough liquidity to meet drawdowns. New to commitments and drawdowns? Read how an Alternative Investment Fund works.
The 12% hurdle rate is a threshold for the performance fee, not a guaranteed return.
Key Risks of Investing in VentureX Fund I
The main VentureX Fund risks come from the SME and pre-IPO segment it invests in:
- SME liquidity risk: SME shares trade less frequently and can be hard to sell.
- Pre-IPO risk: a planned listing may be delayed or may not happen.
- Valuation risk: unlisted securities have limited price discovery.
- Governance risk: promoter conduct and related-party dealings can affect outcomes.
- Concentration risk: single-company or sector exposure can hurt returns.
- Execution risk: growth depends on management and business conditions.
- Long-tenure risk: a 10-year close-ended structure limits interim liquidity.
- Capital-call risk: investors must have funds ready when drawdowns are called.
Risks differ a lot by fund structure. See Category I, II or III: choosing the right AIF for your risk appetite for how mandate, liquidity and risk vary by category.
Who Can Invest in VentureX Fund I?
VentureX Fund I suits eligible investors who can commit at least ₹1 crore for about 10 years and who understand SME, pre-IPO and liquidity risks. It gives access to early-stage SME opportunities that are rarely available through mutual funds or listed equity products.
Investors should check their liquidity needs, investment horizon and ability to absorb losses before investing. Comparing structures? Read Mutual Fund vs PMS vs AIF, or browse all AIF funds in India on ALTPORT. Always review the latest PPM and subscription documents.
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Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Mr. Rajesh Singla
Mr. Rajesh Singla is the CEO and Fund Manager at VentureX, bringing over 14 years of extensive experience, including six years specializing in asset and wealth management. Throughout his career, he has advised more than 10,000 investors across private equity, SMEs, and pre-IPO investments, establishing himself as a trusted leader in the investment domain.
Central to his philosophy is delivering risk-adjusted returns, particularly through SME-focused funds. Under his leadership, the firm has achieved over 32 successful portfolio exits, propelling exceptional growth from ₹3.2 crore to ₹21 crore, with an impressive 114% annualized return. Additionally, Mr. Singla has spearheaded fundraising efforts for 15 SMEs across diverse sectors, securing substantial capital for high-growth ventures.
His prior roles at technology giants have honed his technical and strategic acumen, positioning him as a thought leader in entrepreneurship and investment growth.
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Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
VentureX Fund I focuses exclusively on India’s SME ecosystem, investing in pre-IPO opportunities, anchor allocations in IPOs, and listed SME companies with strong long-term growth potential.
Yes. It is structured as a Category I AIF with an SME-focused investment mandate.
It follows a venture-capital-style approach focused on growth-stage SMEs and can be described as a Category I Venture Capital AIF strategy.
The strategy focuses on SMEs across pre-IPO, IPO and listed opportunities using the LMVT framework.
The VentureX Fund minimum investment is ₹1 crore, in line with SEBI's AIF rules. Larger commitments of ₹5 crore and above pay lower management fees, falling from 1.75% to 1%.
The stated hurdle rate is 12%. It should not be interpreted as a guaranteed return.
The strategy uses fundamental research, governance checks, financial analysis, on-ground diligence and portfolio diversification to identify and monitor risks.
The stated VentureX Fund tenure is 4 + 2 years. Risk Disclosure: AIF investments are subject to market, liquidity, valuation, governance and other risks. Returns are not guaranteed. Investors should read the latest PPM and fund documents carefully before investing.
VentureX Fund I is owned and run by Alpha AMC, founded by Rajesh Singla. Its sponsor is Alpha Ventures Pvt Ltd (formerly Planify WealthX Pvt Ltd), and its investment manager is Planify Venture LLP. The fund is held in VentureX Trust, and the investors own units in the fund. The fund managers are Rajesh Singla (CEO), Ishima Singla (CIO) and Maneesh Nath (Portfolio Manager).
Yes. Alpha VentureX SME Fund, Planify VentureX Fund and Venture X Fund 1 all refer to VentureX Fund I. The names changed because the sponsor, Planify WealthX, now operates as Alpha Ventures under the Alpha AMC brand.
As of 30 April 2026, the VentureX Fund portfolio held 34 SMEs, with over ₹90 crore invested. Disclosed holdings include JD Cables, Alpex Solar and Accent Microcell. The fund also invests as an anchor investor in SME IPOs, so its holdings change over time.
Yes. VentureX Fund I is registered with SEBI as a Category I AIF (Venture Capital Fund) under registration number IN/AIF1/24-25/1565. At least 75% of its investible funds must go into unlisted equity of venture capital undertakings.
Both. VentureX Fund I is legally a Category I Venture Capital AIF, and its strategy focuses on SMEs. That is why it is also called the VentureX SME Fund. It backs SMEs before listing and around their SME IPOs.
VentureX Fund had raised ₹223 crore in commitments by 30 April 2026, against a target of ₹1,000 crore. It made its first close on 28 February 2025, after raising ₹100 crore within months of launch.
Venture capital funds such as VentureX Fund I can suit investors who want exposure to early-stage growth and can lock in capital for 7–10 years. They carry higher risk than listed equity: illiquidity, valuation uncertainty, and the chance that companies fail or never list. Consider them only as a small part of a diversified portfolio, after reviewing the PPM.
VentureX Fund I is a Category I venture capital AIF focused on SMEs at the pre-IPO and SME IPO stage. Many AIFs in India are instead Category II private equity or credit funds, or Category III long-short funds, with different risk, liquidity and tenure. Compare VentureX with 200+ AIF funds in India on ALTPORT before deciding.
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