Gaja Alternative IPOLISTED

Gaja Alternative Asset Management Limited is an independent alternative asset management company operating under the “Gaja Capital” brand. With over two decades of experience in alternative asset management and private equity, the company focuses on managing and advising investment funds that invest primarily in India.

The company acts as an investment manager to India-focused Category I and Category II AIFs and an advisor to offshore funds investing in Indian companies. It also sponsors, manages, and advises funds across investment strategy, fund management, portfolio management, and investments.

Gaja Capital primarily focuses on the Indian mid-market segment, investing across EEE, Financial Services, Consumer, and Digital Technology sectors. It follows an invest-and-collaborate approach to create value in portfolio companies.

The company began its investment activities through deal-by-deal investments and later launched Fund II (2007), Fund III (2015), and Fund IV (2021). It also entered the secondaries business, with its Secondaries Fund receiving SEBI approval in October 2025.

Business Model:

• Management Fees: Fees earned for managing and advising funds, linked to the size of the fund and capital committed or invested by external investors.
• Carried Interest: A performance-linked share of profits generated by the funds managed and advised by the company.
• Income from Sponsor Commitment: Capital gains earned from the company’s own investments as a sponsor in the funds it manages and advises.

Gaja Capital has a diversified global investor base across more than 20 countries, including India, the US, Europe and the Middle East. The company manages funds across fundraising, investments, portfolio management and exits, with an average MOIC of 3.3x across its Prior Investments and Gaja Capital Funds.

As of September 30, 2025, the company employed 38 personnel, comprising both permanent and contractual staff.