Venture debt / Private credit · SEBI registry
INDIA ASSET GROWTH FUND
Debt / Venture debt · Real estate & PropTech · Mumbai
At a glance
- Stage focus
- Debt / Venture debt
- Primary sector
- Real estate & PropTech
- City
- Mumbai
- HQ / office
- Mumbai, Maharashtra (registry address: Indiabulls Finance Centre / One International Centre, Senapati Bapat Marg, Elphinstone Road, 400013; manager Essel Finance based at Lower Parel)
- Fund registered
- 2012
- Investments on record
- 1
About
India Asset Growth Fund (and India Asset Growth Fund II, SEBI Cat II) was a real-estate-focused AIF managed by Essel Finance Advisors and Managers LLP, part of the Essel/Zee group. The fund completed its winding-up and distributed proceeds to investors by January 2024; in 2024 SEBI penalised the fund, manager Essel Finance Advisors and trustee Vistra ITCL (~Rs 24-29 lakh) for AIF norm breaches including over-concentration in a single investee (Samruddhi Realty) and valuation/disclosure lapses.
Investment focus
Real estate / real-estate structured-credit fund (NCDs in real-estate / realty-developer investee companies) — not startup VC
SEBI registration
SEBI AIF Category II — reported as “Cat II”
- IN/AIF2/12-13/0037
- IN/AIF2/15-16/0212
SIDBI Fund of Funds
None found
Notable portfolio
Samruddhi Realty Ltd (SRL)
Team & organisation
Category II AIF; registry address in Mumbai (One Indiabulls / Indiabulls Finance Centre area, Senapati Bapat Marg, Lower Parel). Investment manager entity, contact details, LinkedIn and fund specifics could not be verified from public sources; no website found.
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Frequently asked
- What does INDIA ASSET GROWTH FUND invest in?
- Real estate / real-estate structured-credit fund (NCDs in real-estate / realty-developer investee companies) — not startup VC
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- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ real-estate (NOT startup VC); manager Essel Finance Advisors and Managers LLP (Essel/Zee group); fund wound up by Jan 2024; SEBI penalty 2024; official site esselfinance.com does not resolve (dead)
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=16