Steptrade Capital announces first close of Revolution Fund-II

Steptrade Capital has announced the first close of its third Alternative Investment Fund, Steptrade Revolution Fund-II (SRF-II) as it sets its sights on a total deployment of Rs 1,000 crore into India’s emerging leaders in the small and microcap space.

SRF-II is the second offering under the Revolution Fund banner, following the notable performance of Chanakya Opportunities Fund and Steptrade Revolution Fund-I. With each fund, it has deepened its footprint in India’s small and microcaps.

The fund is strategically designed to target scalable opportunities in both listed and unlisted small and microcap businesses. The fund actively seeks to back innovation-driven companies across renewables, defence, waste management, infrastructure, and other emerging themes.

Operating across all AIF categories (I, II, III), PMS, and FPI, Steptrade now offers one of the most comprehensive investment platforms in the country, catering to domestic and global investors looking to tap into India’s next growth frontier: its small and ambitious enterprises.

“This early close is a strong vote of confidence from our investors,” said CA Kresha Gupta, Director and Fund Manager at Steptrade Capital. “It reflects the strength of our investment philosophy—rooted in bottom-up research, market depth, and a clear focus on value creation in sectors that matter. We’re proud to be building capital bridges for India’s real economy.”

Ankush Jain, CFA, Director and Fund Manager added, “In microcap investing, timing and structure matter as much as the idea itself. SRF-II reflects a disciplined approach where every allocation is backed by depth of research, clear valuation logic, and a focus on protecting downside while capturing structural upside. At Steptrade, we are building portfolios that can compound quietly, through cycles.”