Mumbai-based Equitree Capital Advisors, a SEBI-registered PMS managing over $140 million AUM, has launched an offshore fund under the GIFT City framework to offer global investors exposure to India’s small-cap equities.
The firm has set up the Equitree Emerging Opportunities Fund, a Category III Alternative Investment Fund registered under the IFSCA (Fund Management) Regulations, 2025. Structured as an open-ended restricted scheme (non-retail), the USD-denominated fund will invest in listed Indian small-cap companies through an IFSC-based offshore vehicle. It targets NRIs, foreign nationals, family offices and institutions, with a planned raise of $100 million over 12-18 months and is currently in late-stage discussions with investors, according to an official release.
The fund extends Equitree’s existing PMS strategy, which has delivered a 40 per cent CAGR since April 2020, versus 29 per cent for the Nifty Small Cap 100 and 22 per cent for the BSE 500 TRI over the same period (net of fees, April 2026). The GIFT City vehicle will follow the same research-driven, concentrated investment approach, the release added.
