Zanskar AIF

Zanskar Investment Management

Incorporated in 2024 and headquartered in the Pragya Accelerator at GIFT City, Zanskar Investment Management is a tech-first AMC that operates within India's only International Financial Services Centre. The entity differentiates itself by owning its entire technology stack—from order management to execution algorithms—allowing it to offer institutional-grade market-making services. With backing from investors like Peak XV Partners and BlackSoil Capital, the AMC plays a critical role in the Indian ETF ecosystem, providing liquidity and sophisticated execution for major financial institutions.

Fund Overview

Zanskar AIF is a high-technology investment fund managed by Zanskar Investment Management IFSC LLP, based in GIFT City, Gujarat. The fund operates as a Category III Alternative Investment Fund, focusing on systematic and quantitative trading. Unlike traditional fundamental funds, Zanskar treats the market as a data problem, utilizing a proprietary tech stack to execute algorithms with minimal latency. It primarily targets sophisticated institutional investors, such as family offices and asset management companies, providing them with a rule-based approach to capture market alpha through structural inefficiencies.

Fund Snapshot Table

Data as of May 2026

Feature	Details
Category	Category III AIF (Long-Short/Hedge Fund)
Regulator	IFSCA (GIFT City Authority)
Core Strategy	Quantitative & Systematic Trading
Key Platform	Nubra (Institutional Execution Engine)
Asset Class	Equity, Derivatives, and ETFs
Minimum Investment	USD 150,000 (equivalent to approx. ₹1.25 Cr)
Market Role	Authorized Market Maker for ETFs
Recent Funding	₹25 Crore led by BlackSoil Capital (April 2026)

Fund Philosophy

The fund is built on the philosophy of Eliminating Emotional Bias through technology. Zanskar believes that consistent returns are achieved not by predicting the future, but by building superior mathematical models that can react to market data in real-time. Their approach is “Systematic Alpha,” where every trade is governed by pre-defined rules and risk parameters. By leveraging co-located servers and proprietary risk management systems, the fund aims to provide risk-adjusted returns that are independent of broader market sentiment.

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Fund Manager

Mayank Sachan

Mayank Sachan is the technological architect behind Zanskar's systematic trading infrastructure. With an educational background from IIT Delhi and extensive experience in quantitative finance, he has spearheaded the development of "Nubra," the firm’s flagship institutional brokerage platform. Mayank is focused on bridging the gap between traditional asset management and high-frequency technology, recently leading the firm’s ₹25 crore funding round to expand its market-making capabilities and algorithmic depth.

Frequently Asked Questions

What is the minimum investment for Zanskar AIF? +

Since the fund is based in GIFT City (IFSC), the regulatory minimum investment for a Category III AIF is USD 150,000 (or its equivalent in other foreign currencies). This is slightly higher than the domestic AIF limit of ₹1 crore, reflecting the fund's focus on global and institutional investors.

How does Zanskar generate "Alpha" compared to traditional funds? +

Zanskar generates alpha through "Systematic Market Making" and "Quantitative Arbitrage." By using high-speed algorithms to provide liquidity to the market (especially in the ETF segment), the fund earns small spreads and identifies price discrepancies across different instruments faster than human traders can.

What is the "Nubra" platform mentioned in the snapshot? +

Nubra is Zanskar's proprietary institutional brokerage and execution platform. It acts as the gateway for the AIF and its institutional clients to access low-latency trading. It integrates advanced risk management and order routing, ensuring that large trades are executed with minimal market impact.

Can individual Indian residents invest in Zanskar AIF? +

Yes, Indian residents can invest under the Liberalised Remittance Scheme (LRS) or other applicable RBI/IFSCA guidelines, provided they meet the "Accredited Investor" or "Sophisticated Investor" criteria and the minimum ticket size of USD 150,000.

What is the role of Zanskar as a "Market Maker"? +

As an Authorized Participant and Market Maker, Zanskar provides continuous buy and sell quotes for Exchange Traded Funds (ETFs) on the exchanges. This ensures that there is enough liquidity for other investors to trade ETFs without significant price gaps, while Zanskar earns a fee or spread for providing this service.

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