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We invest to institutionalise companies.
Managed by Amara Partners
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Amara Partners Trust (SEBI Reg. IN/AIF2/23-24/1413) is a Category II AIF managed by Amara Partners LLP (LLPIN: ACB-9803), a mid-market private equity firm founded in 2023 by Parag Shah and Piyush Soonee. Both founders previously built and ran Mahindra Partners' private equity arm over 15 years, collectively deploying $500M+ and generating $1.5B+ in returns across 30+ investments. The fund is anchored by Anand Mahindra (anchor LP and Advisory Board member) and targets a base corpus of ₹600 crore with a ₹200 crore greenshoe option — which was activated after the base fund was oversubscribed. Operating from 704B Piramal Tower, Peninsula Corporate Park, Lower Parel, Mumbai 400013, Amara focuses on mid-sized, promoter-led businesses that are stable, profitable, and cash-flow positive, and seeks to institutionalise and scale them to their next growth orbit. Portfolio companies include Lumax Auto Technologies (IPO) and Fibe (Series E, NBFC). The firm also introduced the Amara Leadership Circle — an exclusive group of CEOs and senior leaders from major Indian and multinational corporations — to deepen engagement with industry veterans and expand its LP and advisor community.
Parag Shah
Founder & Managing Partner
Co-founder of Amara Partners. Previously Founding Partner and Managing Director at Mahindra Partners, the private equity arm of the Mahindra Group, where he spent 15 years backing entrepreneurs across incubation, growth equity, M&A, and turnarounds. Collectively deployed $500M+ and generated $1.5B+ in returns across 30+ investments at Mahindra Partners. General Management Programme at Harvard Business School.
Piyush Soonee
Founder & Partner
Co-founder of Amara Partners. Previously at Mahindra Partners; prior experience at Omidyar Network India, Indus Balaji Private Equity, and Synergy Consulting Inc. PGDBM in Finance from IIM Ahmedabad (2007–2009).
Mitesh Shah
CFO & Investment Team Member; SEBI Contact Person
No insights published yet.
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