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Niche Sector Leaders. Emerging Unicorns. Under-owned Outperformers.
Managed by NeoMile
Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.
Neomile Growth Fund (IN/AIF3/23-24/1274) is a SEBI-registered Category III AIF managed by NeoMile Asset Managers Private Limited, a Mumbai-based multi-strategy asset management and advisory firm founded in 2018. The fund — officially Neomile Growth Fund – Series I — is a closed-ended fund established to invest in high-potential small and mid-sized listed companies across cyclical and structural growth themes in Indian equity markets. The firm was founded and is led by Managing Director Kirtan Rupareliya, with Rashesh Shah (CFA, ex-ICICI Securities) serving as CIO and Fund Manager. NeoMile has been active as an anchor investor in SME IPOs (including a stake increase in ArisInfra to 5.13% in September 2025) and targets investment engagement with management teams to create value through growth capital infusion, management incentives, expansion tie-ups, and public markets expertise. The firm operates from 1215, 12th Floor, C Wing, One BKC, Bandra Kurla Complex, Bandra East, Mumbai 400051 — a premium commercial office in the BKC financial district. NeoMile also runs a corporate advisory practice (formerly Neomile Corporate Advisory Limited) offering services across IPOs, QIPs, debt offerings, and loans against shares.
Rashesh Shah
FMCIO & Fund Manager; SEBI Contact Person
Rashesh Shah is CIO and Fund Manager of Neomile Growth Fund – Series I. He joined NeoMile in March 2023. He is a Chartered Accountant with a BCom from Mithibai College, Mumbai. He spent over 13 years at ICICIdirect (ICICI Securities) rising to Assistant Vice President in equity research, where he won two Starmine Analyst Awards by Thomson Reuters in 2014 and 2016 for accurate and insightful analysis of the Indian stock market. He also held positions at Deloitte India (US Offices). At NeoMile, he oversees portfolio allocation, investment strategy, and risk management.
Kirtan Rupareliya
Managing Director
Kirtan Rupareliya is the Managing Director and co-founder of NeoMile Capital (NeoMile Asset Managers Private Limited), established in 2018. He leads the firm's overall strategy, business development, and corporate advisory practice.
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