Carnelian Private Growth & Innovation Fund
Carnelian Asset Advisors
Fund profile
About the Fund
Carnelian Private Growth & Innovation Fund follows a "Growth-to-PIPE" strategy across growth, late-stage/pre-IPO and PIPE opportunities. It focuses on innovative businesses where earnings acceleration, institutionalisation and strategic support can unlock value, supported by forensic diligence, governance checks and valuation discipline. The approach aligns investment stage with the company's growth and exit pathway while seeking long-term wealth creation.
Source: About the Fund PDF.
Key metrics
AUM
₹2,000 Cr
Minimum investment
₹1 Cr
Vintage
2026
Peak MOIC
5.0x
Peak IRR
87%
Tenure
6 yrs 9 mo
Source-verified detail
Key Information
Fund manager
Umesh Agrawal
Investment manager
Carnelian Asset Advisors
SEBI category
Category 2
Strategy
Growth-to-PIPE
Portfolio size
15-20
Management fee
2%
Investment period
36 months
Initial drawdown
10% upfront of the capital committed
Status
Active
Data as of
31 Jul 2026
Source: Fact sheet / official materials provided by Carnelian Asset Advisors.
Disclosed figures
Target Asset Allocation
Target Asset Allocation
Source: Fact sheet / official materials provided by Carnelian Asset Advisors.
Carnelian
About the Fund Manager
Umesh Agrawal
CA
Experience – 28 years
Prior – President & Fund Manager at 360 ONE Asset
Known for managing multiple funds across 30 portfolio companies & delivering industry-leading exits, IRRs, and DPI, he brings a rare dual perspective as both an investment banker (90+ deals) and an investor, making him a trusted partner to founders through their growth journey.
- Experience
- 28 years
- Portfolio companies
- 30
- Investment banking deals
- 90+
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