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Invest with an Entrepreneurial Mindset.
Managed by Niveshaay
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Niveshaay Growth Trust (IN/AIF2/24-25/1607) is a SEBI-registered Category II AIF managed by Niveshaay Investment Management Private Limited (CIN: U66309GJ2024PTC148707, LEI: 254900FARHLL5TLQ9Y16), a Surat-based boutique investment management firm incorporated in 2024. Niveshaay was founded in 2017 by Arvind Kothari as Niveshaay Investment Advisors; the investment management company was incorporated in 2024 to hold the AIF and CPMS registrations. Niveshaay also holds a separate Cat III AIF registration (IN/AIF3/24-25/1571). The firm is headquartered at Office No. 610, 6th Floor, SNS Platina, Near Someshwara Enclave, Vesu, Surat, Gujarat 395007. Co-founders are Arvind Kothari, Gunjan Kabra, and Vikram Sharma. The firm employs a scuttlebutt approach — on-ground research including plant visits, distributor checks, and direct conversations with promoters — to identify high-growth, under-the-radar companies in manufacturing and energy transition sectors. Niveshaay operates two AIFs: (1) the Cat II Growth Trust (IN/AIF2/24-25/1607) with an open-ended structure providing greater liquidity, targeting mid and small-cap listed and unlisted companies with a diversified strategy; (2) the Cat III AIF (IN/AIF3/24-25/1571) for longer-horizon, conviction-driven investments in exceptional founders and visionary businesses. The firm is also a SEBI-registered Research Analyst (INH000017338) with Vikram Sharma as contact, and manages CPMS products.
Arvind Kothari
Founder & CIO
Arvind Kothari is the Founder and CIO of Niveshaay Investment Advisors and Niveshaay Investment Management Private Limited. He established Niveshaay Investment Advisors in 2017 after working at ICICI Bank conducting industry research on sectors including solar and capital goods. Throughout more than a decade of experience, his approach has remained unchanged: deeply understanding businesses, investing in promising entrepreneurs, conducting ongoing research, and maintaining continuous engagement with industry professionals. He has a strong focus on renewable energy, electronics, and manufacturing, and is a firm believer in the India growth story and the blossoming of Indian entrepreneurship. He aims to provide growth capital or leverage his entrepreneur/investor network to help portfolio companies scale.
Gunjan Kabra
Co-Founder
Gunjan Kabra is Co-Founder of Niveshaay. He has a bullish outlook on the 'Make in India' theme and participates in industry discussions and public outreach on India's manufacturing growth story. He is a designated director of Niveshaay Investment Management Private Limited.
Vikram Sharma
Co-Founder & Manager – Investments; SEBI Contact Person
Vikram Sharma is Co-Founder and Manager – Investments at Niveshaay, and the SEBI contact person for both Niveshaay Growth Trust (IN/AIF2/24-25/1607) and the Research Analyst registration (INH000017338). He brings over 6 years of experience in equity research and portfolio management. He is recognised for his fundamental research work and analytical skills with a strong focus on emerging data points. He is a CFA (US), CS (Company Secretary), and a commerce graduate from Surat.
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