New Delhi, May 1 -- Aikyam Capital Management, an alternative investment firm focused on stressed assets in India, has announced the first close of its inaugural Aikyam Capital Stressed Assets Fund I, a Category I Special Situation Fund (SSF).

The fund has secured investor commitments totaling Rs 105 crore. It is targeting a total corpus of Rs 300 crore, with a greenshoe option of an additional Rs 200, bringing the potential total fund size to Rs 500 crore.

The fund aims to invest in stressed and distressed opportunities across sectors, focusing on fundamentally viable businesses in need of financial and operational support for a turnaround.

"This first close represents a major milestone for our platform as we continue to scale our presence in the stressed asset space," said M. Venkatasubramaniam, chief executive officer, stressed assets management, Aikyam Capital.

According to a company statement, the fund's dedicated investment team has deep expertise in special situations, credit analysis, and hands-on restructuring. The company has already built a strong pipeline of potential investments.

Aikyam Capital was founded in November 2022 by Nilesh Choudhary and Navnit Choudhary. Nilesh Choudhary, who has nearly two decades of experience in the asset management industry, serves as CEO.

Prior to this, Choudhary was a director at Wilson Investment Advisors, where he handled Indian capital markets structuring and acted as sub-advisor to overseas funds. He began his career in alternative investments in 2006 as part of the founding team of Milestone Capital, an India-focused real estate fund, and later joined Edelweiss Financial Services. At Edelweiss, he spent nearly a decade and established its Singapore office to expand the firm's alternative investment business.

Headquartered in Mumbai, Aikyam Capital offers a range of financial services, including institutional broking and clearing, investment banking, stressed asset management, capital market solutions, and investment advisory.

Published by HT Digital Content Services with permission from VC Circle.