Backing
Bold BusinessesBuilt to
Break Out

₹1970.48 Cr

AUM Across two AIFs

₹2000 Cr+

Capital Deployed in Pvt. Markets

Pvt. Businesses Backed

10 IPOs

Listed on the public markets

A decade of backing
chasm--crossers with pooled capital

Awadhesh Kr. Pandey

CFO, Damlia Cement

Gobind Ram Choudhary

Managing Director, Anmol Industries Ltd

Parsh Kothari

CEO & Co-founder, Think School

Prateek Kapoor

Director, Shubham Group

CA Jay Chhaira

Central Council Member, ICAI

Karna

Semiconductor Design Leader, Hyderabad

Hear from our

Risk-takers

Vikas Goyal

CEO & MD, Sambhv Steel Tubes Ltd

Niveshaay has been a strategic partner from early IPO planning through execution, a true extension of our team Sambhv.

Hitesh Doshi

Chairman & Managing Director, Waaree Group

Niveshaay brought capital and conviction at a stage when few understood the platform we were building.

Ayush Sinhal

Co-Founder, Kimbal Energies

With Niveshaay's continued trust, we have the runway to scale faster and take Kimbal global.

Yogesh Kabra

Founder, XYXX Apparels

Niveshaay's commitment to excellence and data-driven approach keep us aligned on quality and market fit.

AlternativeInvestment Fund

Category III AIF · Open

Niveshaay Hedgehogs Fund

A SEBI-registered Category III AIF, managed by Niveshaay Investment Management Pvt. Ltd. and launched on 9 October 2024.

Entrepreneur-led and scuttlebutt-driven: a 100% small-cap portfolio of 56 listed and unlisted companies, concentrated in data centers, aerospace and defence, energy storage and electronics/EMS.

₹1,068.75 crore in AUM, benchmarked against the NIFTY Smallcap250, with 34.28% post-tax returns since inception (15 September 2026).

Performance

Niveshaay Pre Tax NAVNIFTY Smallcap250

9 Oct 2024,Dec 2024,Mar 2025,Jun 2025,Jul 2025,Aug 2025,Sep 2025,Oct 2025,Nov 2025,Dec 2025,Jan 2026,Feb 2026,Mar 2026,Apr 2026,May 2026,Jun 2026,Jul 2026,Aug 2026,15 Sep 2026

1000,1115.5,993.9,1081.8,1114.8,1113.4,1093.6,1136.5,1085.5,1086.0,1004.4,1008.2,936.1,1104.7,1236.5,1272.9,1266.2,1341.61,1343.54

1000,974.3,834.3,983.1,947.0,911.7,922.1,956.4,924.3,921.6,870.7,877.2,789.2,924.1,938.5,978.8,989.8,1041.81,988.34

75013801250,1000,8000,4,8,12,18See Returns34.2810.2038.8418.14

PeriodPre Tax NAVSmallcap250

Periodic Returns

Since Inception34.28

3 Months10.20

6 Months38.84

1 Year18.14

Post tax & fees · Updated on 15 September, 2026

Know More

Category II AIF

Niveshaay Sambhav Fund

A SEBI-registered Category II AIF, managed by Niveshaay Investment Management Pvt. Ltd. and launched on 11 December 2024.

Entrepreneur-led and scuttlebutt-driven: a portfolio of 57 companies blending listed securities (54.43%) with unlisted positions (40.45%), across energy storage, consumption, data centers, recycling, and aerospace and defence.

₹901.73 crore in AUM at a NAV of 1277.77, with roughly 27.8% returns since inception (31 August 2026).

Performance

Niveshaay Sambhav NAV

Feb 2025,Apr 2025,Jun 2025,Aug 2025,Oct 2025,Dec 2025,Feb 2026,Apr 2026,Jun 2026,Aug 2026

985.56,1002.40,1004.19,1003.18,1006.83,996.54,962.93,1034.35,1183.37,1277.77

94013001200,1100,10000,3,6,9See Chart

Fund Status

StatusClosed

Portfolio57

AUM (₹ Cr)901.73

NAV1277.77

Closed-ended · Inception 11 Dec 2024 · As of 31 Aug 2026

Visit the factory. Walk the floor. Attend the expo. See the market firsthand.

Understand who is building the business—and how they think.

Suppliers. Customers. Competitors. Employees.

Cross-check what we hear against what the founder tells us.

Volume. Stickiness. Pricing power. Irreplaceability.

Find the signals before they show up in earnings.

We don't sell because the market disagrees.

Sometimes, that's exactly when we hold.

Years of scuttlebutt,
deepening every year.
The roots grow before the shoot.

Just like how Bamboo Grows

Research Spend

Year 1

Year 2

Year 3

Year 4

Year 5

We identify
and
back businesses
positioned to define
the next phase
of industry growth.

Arvind Kothari

Founder - Niveshaay

Read the

Kimbal growth story.

Pvt. Companies

Backed and growing

Waaree Energies

Vikram Solar

Jupiter International

Kotsons (Waaree Transpower)

Kimbal Technologies

Waaree BESS

Navitas Green Solutions

Navitas Alpha Renewables

Insolare Energy

MECPOWER Solutions

Kind Energies

Mokobara

Momentum

Innovist

Theater

XYXX Apparels

Naturis

JSR Dynamics

Anadrone Systems

Eiffil Water Infra

Cimcon

Magicrete Building Solutions

SKS Fasteners

smallcase

Solfin

National Stock Exchange

Equirus Capital

Sambhv Steel Tubes

Vaneera Industries

LEAP India

True Colors

Regain

Srichakra

EKKAA Electronics

ESDS

Private

Equity

10 IPOs

Listed on the

public markets

Sectors

Invested

₹2000

Cr+

Capital

Deployed

Businesses

Backed

Know More

the bedrock of our journey for

conviction

Our Team

60+ Team Members

Our Unfair Advantage

Surat

Our Leadership

3 Founders

Our 35 researchers obsessed with finding the signals long before the market discovers them.

Niveshaay
Podcast

Go to YouTube

et45fdkBgng

Building India's Energy Stack

Ayush Sinhal, Founder of Kimbal

Podcast

Oqo3Bwh2-AI

Sambhv’s Story

Vikas Goyal, CEO & MD, Sambhv Steel Tubes Ltd

Podcast

Received From	Pending at End of Last Month	Received	Resolved*	Total Pending*	Pending > 3 months	Avg. Resolution Time* (in days)
Investors	0	0	0	0	0	0
SEBI Scores	0	0	0	0	0	0
Other Sources	0	0	0	0	0	0
Grand Total	0	0	0	0	0	0

Month	Carried Forward	Received	Resolved*	Pending*
October-2023	0	0	0	0
November-2023	0	0	0	0
December-2023	0	0	0	0
January-2024	0	0	0	0
February-2024	0	0	0	0
March-2024	0	0	0	0
April-2024	0	0	0	0
May-2024	0	0	0	0
June-2024	0	0	0	0
July-2024	0	0	0	0
August-2024	0	0	0	0
September-2024	0	0	0	0
Grand Total	0	0	0	0

Year	Carried Forward	Received	Resolved*	Pending*
2021 - 2022	0	0	0	0
2022 - 2023	0	0	0	0
2023 - 2024	0	0	0	0
Grand Total	0	0	0	0

Month	Carried Forward	Received	Resolved*	Pending*
September-2025	0	0	0	0
October-2025	0	0	0	0
November-2025	0	1	0	1
December-2025	1	0	1	0
January-2026	0	1	0	1
February-2026	1	0	1	0
March-2026	0	0	0	0
April-2026	0	0	0	0
May-2026	0	1	0	1
June-2026	1	0	1	0
July-2026	0	0	0	0
August-2026	0	0	0	0

Year	Carried Forward	Received	Resolved*
2023 - 2024	—	0	0
2024 - 2025	—	0	0
2025 - 2026	—	2	2
Grand Total	—	0	0

Sr. No.	Received from	Pending at the end of last month	Received	Resolved *	Total Pending #	Pending complaints > 3 months	Average Resolution time^ (in days)
1	Directly from Investors	0	0	0	0	0	0
2	SEBI (SCORES)	0	0	0	0	0	0
3	Other Sources (if any)	0	0	0	0	0	0
Grand Total		0	0	0	0	0	0

BackingBold BusinessesBuilt toBreak Out

A decade of backingchasm--crossers with pooled capital

Awadhesh Kr. Pandey

Gobind Ram Choudhary

Parsh Kothari

Prateek Kapoor

CA Jay Chhaira

Karna

Niveshaay Hedgehogs Fund

Niveshaay Sambhav Fund

We go to the source.

Meet the founder.

Talk to the ecosystem.

Look beyond the numbers.

Then we wait.

Years of scuttlebutt,deepening every year.The roots grow before the shoot.

Niveshaay Podcast

Research & News

Niveshaay invests ₹325 crore in Waaree Energy Storage

Niveshaay leads ₹52 cr funding round in Cimcon Software

Niveshaay invests ₹10 cr in True Colors across pre-IPO and anchor rounds

Niveshaay-backed Sambhv Steel Tubes debuts on Dalal Street

Smart Talk: from solar to switchgear, capex themes remain strong — Arvind Kothari

Niveshaay invests ₹325 crore in Waaree Energy Storage

Niveshaay leads ₹52 cr funding round in Cimcon Software

Niveshaay invests ₹10 cr in True Colors across pre-IPO and anchor rounds

Niveshaay-backed Sambhv Steel Tubes debuts on Dalal Street

Smart Talk: from solar to switchgear, capex themes remain strong — Arvind Kothari

Innovist raises ₹136 crore in round led by ICICI Venture

smallcase raises $50M in Series D

IPO boom: 1,000+ public offers expected in next two years — Niveshaay

Complaint Status

Grievance Redressal Matrix

Disposal of complaints