Alternative Investment Fund is a privately pooled investment vehicle that collects funds from sophisticated investors and invests these funds in accordance with a defined investment policy for the benefit of its investors.

AIFs which invest in start-up or early stage ventures or social ventures or SMEs or infrastructure or other sectors or areas which the government or regulators consider as socially or economically desirable and shall include venture capital funds, SME Funds, social venture funds, infrastructure funds and such other Alternative Investment Funds as may be specified.

AIFs which do not fall in Category I and III and which do not undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted in the SEBI (Alternative Investment Funds) Regulations, 2012. Various types of funds such as real estate funds, private equity funds (PE funds), funds for distressed assets, etc. are registered as Category II AIFs.

AIFs which employ diverse or complex trading strategies and may employ leverage including through investment in listed or unlisted derivatives. Various types of funds such as hedge funds, PIPE Funds, etc. are registered as Category III AIFs.

AIF management services can only be offered by a SEBI registered entity.

Our ideal investor is someone who aspires to generate compelling long-term returns by investing in a boutique, performance-oriented investment manager.

We will build a diversified portfolio of quality, mispriced businesses. We are flexible on market capitalization but inflexible on populating the portfolio with securities that do not meet the bar in terms of quality, mispricing, corporate governance, etc.

We cannot guarantee a specific rate of return. We are not focused on beating any index in particular and want to generate compelling absolute returns over the long term. Given that we will invest across the market capitalization spectrum, our performance should be compared to the NSE 500 index. However, please do not expect our portfolio composition to mimic index composition.

Minimum 3 years.

We strongly believe in the product that we are offering and our entire exposure to the Indian stock market is via this AIF. The founding team has invested over 50% of their net worth in the fund and management company. The investment manager has three years of runway assuming zero fee income so is not pressured to chase short-term performance or gather assets at unfavorable terms.

We offer both fixed fee and hybrid fee structures. Please refer to page 11 of the investor deck for more information. The fees charged by us do not include out of pocket expenses payable (plus any applicable taxes) to SEBI, registrar and transfer agent, fund accountant, custodian, trustee, fund auditor, advisors and other such service providers of the fund and other miscellaneous expenses which are directly attributable to the fund. We do not anticipate out-of-pocket expenses to exceed ~0.1% of AUM on an annual basis.

There is no lock-up period. However, investors may be subject to an exit load if funds are redeemed within the first year of investment.

Per SEBI regulations, the statutory minimum investment amount is INR 1 crore in Category III AIFs. Upon investing the minimum investment amount, additional investments can be made in multiples of INR 1 lakh. These additional investments can be in SIP or lump sum format. Please note that there is no SIP option available if you do not invest the initial corpus of INR 1 crore. At Persistence Capital, we do not enforce a maximum investment amount.

When you invest in the AIF, the units will show up in any existing demat account of yours. The value of these units will be updated on a monthly basis. You will also receive account statements in your registered email and will be able to login to our RTA's portal to download portfolio factsheets, tax reports and other relevant documents.

Profits in the AIF are taxed at applicable capital gains tax rates for equity and market-linked instruments and at maximum marginal rates for income from other sources like interest, dividends, processing fees etc. Tax is paid at the fund level and reported returns are on a post-tax basis. When you withdraw your investment in the AIF, you do not have to file for or pay any taxes. Remember that the monthly NAV we disclose to you is net of all applicable taxes.

Please email us at if you are interested in opening an account.

Funds can be transferred via RTGS, NEFT, bank cheque or demand draft.

We only accept inflows directly as we do not want to gather assets indiscriminately at the cost of performance.

We accept NRI investments in our AIF if they come via NRO accounts. If you intend to invest via your NRE account, please contact us at support@persistencecap.in so we can best guide you on how to invest with Persistence Capital.

We have the ability to invest in unlisted businesses but will cap such exposure to 10% of NAV (at cost). Additionally, we will only invest in such businesses provided these three criteria are met:

1. The business will IPO in <1 year from time of investment
2. Unique business model that has no listed peers
3. Investment sourced through own network (i.e. no intermediaries) or business is attractively valued