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Purpose-driven capital for
India's Next SME Champions

Himalaya Fund is a SEBI-registered Category I AIF deploying strategic capital into high-potential SMEs across Tier 2 and Tier 3 cities, combining institutional governance with hands-on value creation.

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Why Choose Us

The Himalaya Advantage

We invest with a compliance-first mindset, structured downside protection, and active partnership to create durable value in India's emerging SME economy.

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Regulatory-First Governance

Decades in capital markets with a compliance-led approach that builds enterprise value and investor trust from day one.

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Structured Downside Protection

CCPS/CCD structures, milestone tranches, and covenants protect capital while preserving full equity upside.

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Active Value Creation

Quarterly board reviews, KPI dashboards, and CXO support drive operational excellence and scalable growth.

Who We Are

Our Purpose & Principles

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Vision

To be India's premier Alternative Investment Fund catalyzing transformative growth in Small and Medium Enterprises across Tier 2 & 3 cities, empowering entrepreneurial excellence and fostering inclusive economic prosperity through strategic capital allocation and value creation partnerships.

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Mission

Himalaya Fund is dedicated to responsibly investing in high-potential Small and Medium Enterprises across India's Tier 2 & 3 cities, creating sustainable value for our investors through disciplined capital deployment, operational excellence, and strategic partnerships while fostering entrepreneurial growth, employment generation, and inclusive economic development in emerging urban centers.

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Core Values

Guided by unwavering principles of Integrity, Excellence, Partnership, Innovation, Responsibility, and Inclusivity. These values form the foundation of our investment decisions, stakeholder relationships, and organizational culture, ensuring we create sustainable value while upholding the highest ethical standards.

Our Strategy

Investment Strategy

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Rigorous Selection + Protective Structuring

Proven promoters, clean accounting, and 3-5 year cash-flow underwriting paired with structured downside protection.

Promoter Integrity
Structured Instruments
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Active Value Creation + Planned Exits

Quarterly board reviews, KPI dashboards, and CXO support paired with pre-identified exit pathways.

Board-Level Reviews
Pre-Identified Exits
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Thematic Pillars

Focused on hard tech, deep tech, and sustainability themes that power India's next decade of SME growth.

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Hard Tech & Defense

Aerospace, unmanned systems, advanced engineering, and semiconductor ecosystems with long-term strategic demand.

Aerospace Unmanned Systems
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Deep Tech & Digital Infrastructure

AI/ML, robotics automation, cybersecurity, clean energy storage, and 5G network equipment manufacturing.

AI/ML Cybersecurity
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Sustainability & Human Resilience

Healthcare, AgriTech, circular economy, and next-gen media driving inclusive, sustainable growth.

Healthcare Circular Economy
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Fund Structure

Himalaya SME Scheme I | Category I AIF – SME Fund

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Target Corpus

₹250 Crores Base + ₹250 Crores Greenshoe Option
(Total: ₹500 Crores)

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Fund Tenure

5 Years from Initial Closing
(Extendable by two 12-month periods)

Value Creation Roadmap

Post-investment stewardship includes a 100-day plan, monthly MIS, quarterly reviews, and an escalation protocol for early course-correction.

Years 1-2 Institutional Foundation Finance, HR, and compliance systems
with governance upgrades
Years 3-4 Strategic Acceleration Tier-1 partnerships, large orders,
and strategic buyer access
Years 4-5 Exit Preparation IPO readiness and strategic
acquisition positioning

Fund Snapshot

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Scheme
SEBI Registration: IN/AIF1/25-26/2046

Himalaya SME Scheme I

Category I AIF focused on growth-stage SMEs in Tier 2 and Tier 3 cities with institutional-grade governance.

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Risk-Return
Gross IRR Target: 20-25%

Scaling Deep Tech & Digital Infrastructure: The Last Mile Opportunity

CCPS/CCD instruments, milestone-based drawdowns, and covenants deliver downside protection with equity upside.

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Construction
Ticket Size: INR 10-40 Cr

Conviction-First Construction

10-15 names, 3-5 year hold periods, and phased deployment to manage vintage risk.

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People Behind the Fund

Sponsors & Leadership

A compact view of the founding sponsors and leadership voices shaping the fund. Hover or focus on a profile to preview the member bio.

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CA Asit C. Mehta, Sponsor and General Partner

Sponsor

CA Asit C. Mehta

General Partner

Sponsor

CA Asit C. Mehta

General Partner

  • Founder of Asit C Mehta Group with 40+ years in capital markets and investment banking.
  • Expertise across equity, debt, derivatives, forex, and commodities.
  • Advisor to growth-stage companies on capital raising and strategy, with a strong background in wealth management, AIF, PE, and NBFC platforms.
  • Technology enthusiast with expertise in business process, GIS, and data management solutions.
CA Deena Asit Mehta, Sponsor and General Partner

Leadership

CA Deena Asit Mehta

General Partner and Investment Director

Leadership

CA Deena A. Mehta

General Partner and Investment Director

  • Veteran capital markets leader with 40+ years at Asit C Mehta Financial Services Ltd. and group companies.
  • Former President of BSE who drove early online trading reforms through BOLT.
  • Ex-member of SEBI committees, Promoter Director of CDSL and SAFE, and former Director and Audit Committee Chair at National Payments Corporation of India.
  • Board and committee member across several leading public listed companies.
CA Manohar Lal Vij, Sponsor and General Partner

Sponsor

CA Manohar Lal Vij

General Partner

Sponsor

CA Manohar Lal Vij

General Partner

  • Founder Partner of AVM Resolution Professionals LLP, an IPE recognized by IBBI, and active in IBC since 2019.
  • Past Chairman of NIRC of ICAI with 40+ years in corporate advisory.
  • Specialist in AML, mediation, and dispute resolution in the financial sector.
  • Expert in financial restructuring, stressed asset management, OTS, business revival, debt syndication, and trade finance.
CA Jatin Tehri, Sponsor

Sponsor

CA Jatin Tehri

M&A | FORENSICS | DUE DILIGENCE

Sponsor

CA Jatin Tehri

M&A | FORENSICS | DUE DILIGENCE

  • Ex-Big 4 professional and former Finance Head in a publishing company.
  • 20+ years of experience handling M&A, due diligence, valuations, and forensic investigations.
  • Former Deloitte professional with strong due diligence and international taxation expertise.

Partner with Himalaya Fund

We back high-potential SMEs with disciplined capital, governance, and active value creation across India's emerging cities.