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Liquidity solutions to attract, retain, and motivate top talent.
Managed by Hissa
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Hissa Trust (IN/AIF2/23-24/1439) is India's first unlisted secondaries fund, registered as a SEBI Category II AIF on January 29, 2024. The investment manager is Hissa Investment Managers LLP. The scheme is Hissa Fund 1, a USD 35 million fund (announced January 15, 2025) dedicated to unlocking ESOP liquidity in India's USD 3 billion ESOP market. Hissa Fund is operated by Rulezero Technology Solutions Pvt. Limited — the parent company that builds Hissa (hissa.com), India's leading full-stack equity management platform for cap table management, ESOP management, and portfolio management. The fund invests in vested ESOPs of growth-stage startups (Series B+) domiciled in India, sector-agnostic, offering employees T+5 settlement cycles for liquidity instead of waiting 10–13 years for IPOs or M&As. Focus: 15–20 high-potential growth-stage startups. Debut investment: Miko (AI-powered robotics company, 32 employees received liquidity). Portfolio includes: Dezerv (ESOP buyback $5.3M), Even Healthcare ($500K ESOP buyback), StockGro, HealthKart ($153M raise + ESOP buyback). Office: 101, 1st Floor, Embassy Classic, 11 Vittal Mallya Road, Bengaluru 560001. Compliance Officer: Rina Francis. SEBI Contact: Satish Mugulavalli.
Satish Mugulavalli
Managing Partner; Co-Founder, Rulezero; SEBI Contact Person
Satish excels in driving product innovation and shaping operational strategy. With a background in deep tech investments, he has analyzed over 1,200 startups, made 12 significant investments, and guided 15 ventures as a former Pre-Series A VC. He is the SEBI contact person and co-founder of Rulezero Technology Solutions Pvt. Limited.
Srinivas Katta
Managing Partner
Srinivas spearheads strategy, legal operations, and partnerships. As a founding partner at IndusLaw, he significantly advanced the firm's Private Equity, Venture Capital, and TMT practices before joining Hissa.
Srihari Katta
General Partner
Srihari leads Hissa Fund, directing the Investment Management division. He has raised over USD 250 million and managed USD 500 million in assets across real estate and equity. His key responsibility is to build a healthy deal pipeline.
Rithvik Kasireddy
General Partner
Rithvik leads Hissa Fund with a focus on investor relations, investment selection, and portfolio management. He has structured and funded over USD 2 billion in debt and co-managed a USD 100 million debt fund.
Rina Francis
Compliance Officer
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