01
Position sizing
Size follows conviction and the risk-reward on the specific entry price, not the size of the opportunity. A business we like at one price is a smaller position at another.
Asset Management
How the portfolio is built and held
Strategy decides what the fund buys. Asset management decides how much, at what price, under what limits, and when it leaves. This page covers the second half.
- Structure
- Open ended Category III AIF
- Sleeves
- Four, run inside one portfolio
- Approval
- Investment Committee, before commitment
- Valuation
- Independent, for unlisted holdings
Sector focus
Where we invest
We look for businesses in sectors where India has a long runway of growth, and where good companies can be bought before the wider market prices them in.
- Core focus01
Manufacturing and engineering
Companies gaining from PLI schemes, import substitution and the shift of supply chains to India.
- Core focus02
Power and renewable energy
Solar, wind, transmission and storage businesses riding India's push for energy security.
- High alpha03
Financial services
NBFCs, specialty lenders, wealth managers and broking firms growing with India's savings shift.
- High alpha04
Technology and SaaS
Product-led software and IT businesses with real IP, strong margins and global customers.
- Steady alpha05
Consumer brands
Branded FMCG, packaged food and retail businesses taking share from the unorganised market.
- Opportunistic06
Infrastructure and logistics
Warehousing, cold chain, data centres and last-mile logistics built for a larger economy.
Sector weights change with market conditions and are always within the limits set by the Investment Committee.
What sets us apart.The fund manager runs every deal from first meeting to exit, and nothing is bought without sign-off from the independent Investment Committee.
Investment process
Institutional discipline at every step
Every investment goes through the same six steps, from the first meeting to the final exit.
- 01
Deal sourcing
Opportunities come from investment bankers, merchant bankers, co-investors and the partners' own networks.
Our edge
Access through Safal Capital and Digifin Advisors, often before a deal is widely marketed.
- 02
Preliminary screening
We check the business model, sector tailwinds, financial health and the promoter's track record.
Our edge
Most ideas stop here. Only a few move on to full due diligence.
- 03
Deep due diligence
Financial modelling, legal and compliance checks, and meetings with the management team.
Our edge
Pre-IPO deals are priced against listed peers before we make any offer.
- 04
Investment Committee approval
The independent Investment Committee reviews valuation, risk and position size before money goes in.
Our edge
Sector caps and position limits are set at this stage, not after the fact.
- 05
Portfolio monitoring
Every position is tracked daily against the original thesis, the NAV and its target price band.
Our edge
Unlisted holdings are valued by an independent, SEBI registered valuer.
- 06
Exit execution
Exits through listing gains, block deals, strategic sales or sales in the market.
Our edge
Each position has an exit plan from day one, with more than one route out.
Portfolio construction
The rules that apply before capital moves
Each of these is set by the Investment Committee and applies at the point of commitment. None of them is a corrective measure applied after a position is already on the book.
02
Sectoral caps
Exposure limits are set per sector by the Investment Committee and apply before capital is committed, not as a correction afterwards.
03
Single position limits
No individual holding is permitted to dominate the book. The limit is set at committee level and is independent of who sourced the deal.
04
Entry pricing
Unlisted entries are benchmarked against comparable listed peers with an illiquidity discount applied, rather than against the last private funding round.
05
The hedge book
Defined-risk derivative structures run against the equity sleeve. Their job is to cushion drawdowns and carry yield while primary positions mature, not to express a separate directional view.
06
Governance screen
Audited financials, a clean capitalisation table and a promoter record that survives scrutiny are prerequisites. A business that fails this screen is not priced, it is declined.
Holding period
What happens to a position once it is on the book
A holding is not left alone until somebody remembers it. Four things happen to every position, in order, for as long as the fund owns it.
- 01
Monitored
Positions are tracked daily against the thesis they were entered on, the prevailing NAV and the target price band recorded at entry.
- 02
Reviewed
Where a position moves outside its band, or the thesis is contradicted by results or governance, it returns to the Investment Committee rather than being held by default.
- 03
Valued
Listed holdings mark to market. Unlisted holdings are valued in line with SEBI AIF requirements by an independent SEBI registered valuer.
- 04
Exited
Exits are planned in stages across listing gains, strategic sale and open market monetization, so no single route has to carry the whole position.
Who we work with
Built for investors who think long term
The minimum investment is ₹1 crore, and the fund suits investors who can stay invested for several years.
HNIs and UHNIs
Individuals who want access to pre-IPO and IPO deals that are hard to reach on their own.
Family offices
Families looking for a professionally run allocation across private and public markets.
Institutions and corporate treasuries
Organisations putting surplus capital to work with clear reporting and strong governance.
NRIs
Indians living abroad who want a share in India's growth through a SEBI-regulated fund.
In short
Constraints first, conviction second.
The limits above are what allow the Safal Digifin Growth Fund to hold concentrated positions without the book depending on any one of them. They are published here because an investor should be able to ask whether they were followed.
Applied to every allocation
- Investment Committee approval before commitment
- Sectoral caps and single position limits
- Entry priced against listed comparables
- Independent valuation of unlisted holdings
- Daily monitoring against the entry thesis
- Exits planned across more than one route
Investments in Alternative Investment Funds involve significant risk, including the possible loss of principal. Past performance does not guarantee future results. This communication is intended solely for sophisticated investors as defined under the SEBI (Alternative Investment Funds) Regulations, 2012. Minimum investment thresholds apply. This is not an offer or solicitation to buy or sell securities. Please read the Private Placement Memorandum carefully before investing.