India, May 27 -- Himalaya Wealth Managers LLP has announced the launch of a new SEBI-registered Category I alternative investment fund (AIF), Himalaya SME Scheme-I, to invest in high-growth small and medium enterprises (SMEs) across India.

The fund has a corpus of Rs.500 Cr, with a base target of Rs.250 Cr and a Rs.250 Cr greenshoe option.

The investor will be looking to back SMEs operating in frontier technologies segments like aerospace and defense, industrial automation, healthcare and life sciences, agritech and food processing, electronics and semiconductors, renewable energy and EVs.

Himalaya Wealth Managers will target a gross IRR of 20%+, driven by disciplined investing, structured transactions, and active value creation, the f...