Bharat Value Trust — The Wealth Company | wisefolio

Bharat Value Trust

Mid-Market Pre-IPO J-Curve Investment Opportunity

IN/AIF2/19-20/0690Cat II

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Bharat Value Trust (IN/AIF2/19-20/0690) is a SEBI-registered Category II Alternative Investment Fund managed by Pantomath Capital Management Private Limited, the alternative asset management arm of the Pantomath Group. The fund's product is the Bharat Value Fund (BVF) — a close-ended mid-market pre-IPO fund targeting growth-stage Indian businesses at inflection points, with a fund size of up to INR 1,000 crores (plus a green shoe of INR 1,000 crores). BVF is the Series II fund from Pantomath Capital, following the India Inflection Opportunity Fund (IIOF, Series I), which focused on similar pre-IPO, J-curve growth opportunities. The manager leverages Pantomath Group's extensive network of 7,000+ corporates, a proprietary deal-screening tool, and in-house behavioural diligence capabilities. BVF targets a 10% hurdle rate (XIRR) with 20% carried interest, with Deloitte as auditor and Orbis Trusteeship Services as trustee. The fund is headquartered at Pantomath Nucleus House, Saki Vihar Road, Andheri East, Mumbai.

Investment Philosophy

Pantomath Capital invests in Indian growth-stage businesses on the verge of a big-bang breakout — companies past start-up risk that demonstrate proof of concept, offer high-margin scalable niches, and are positioned for a J-curve inflection. The fund avoids platforms with negative cash flows and bleeding balance sheets, preferring businesses with strong promoter pedigree, value systems, and clear exit visibility via IPO within approximately three years. BVF takes an active ownership approach, assisting portfolio companies in strategy formulation, recruitment, business development, corporate governance, and financial advisory. A preferred ticket size of INR 75 crore and a global M&A network spanning 12+ countries underpin the exit strategy.

Team— 2

Madhu Lunawat

CIO and Fund Manager

Madhu Lunawat is the CIO and Fund Manager at Pantomath Capital Management, overseeing both IIOF (Series I) and Bharat Value Fund (Series II). A rank-holder Chartered Accountant with over two decades of experience in investment management, corporate finance, M&A, asset reconstruction, and treasury, she is a co-founder of the Pantomath Group and previously served as CFO at Edelweiss ARC. She also co-founded CorpGini Innovations and Lunawat Ventures.

Sanjana Lahoti

Fund Operations / SEBI Contact

Sanjana Lahoti is the SEBI-registered contact person for Bharat Value Trust and handles fund operations at Pantomath Capital Management.

Registration

SEBI Registration

SEBI-registered

Reg. NumberIN/AIF2/19-20/0690

VintageMay 2019 · 7 yrs old

Valid ToPerpetual

Contact PersonSanjana Lahoti

AddressPANTOMATH NUCLEUS HOUSE, SAKI VIHAR ROAD, ANDHERI EAST, Mumbai, Maharashtra, 400072

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Disclaimer

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