Built for consistency across cycles
Spark Asset Management operates through a strategic partnership with Asia Impact Luxembourg, offering institutional-grade solutions to Indian and global investors. With over ₹2,500 crore in assets under management and 750+ investors, we manage three distinct platforms—each backed by rigorous research, tested frameworks, and an unwavering focus on compounding capital over time.
Through our PMS and AIF platforms, we offer focused equity strategies and differentiated alternative investments—all anchored in risk-adjusted thinking, disciplined execution, and long-term orientation. We don't just manage capital; we build institutional-quality portfolios designed to compound through multiple market cycles.
₹2,500 Crores+ assets under management
8+ years of heritage
200+ years of collective capital markets experience
Comprehensive platform spanning Public Equities, Private Credit & Unlisted Equities
750+ investors
Research-led investment strategies
built for the long term
Public Equities
Public Equities
Quality businesses. Disciplined execution. Repeatable alpha.
Our Public Equities division offers two distinct strategies tailored to India's evolving market landscape.
The Flexicap Strategy delivers dynamic allocation across the market capitalization spectrum, optimizing exposure based on prevailing risk-reward conditions to generate superior returns over a two-to-three-year horizon.
The Core and Satellite Strategy builds a focused portfolio balancing high-conviction core holdings with tactical satellite positions, designed to capture alpha from the sector rotations that characterize Indian markets while benefiting from profit concentration among market leaders.
Spark India@75 Flexicap
A 20–30 stock portfolio with full flexibility across market caps—built for investors seeking broad-based, all-weather growth. Dynamic allocation optimizes exposure based on market risk-reward, delivering 19.1% annualized returns over 3 years.
Spark India@75 Core & Satellite
A calibrated investment approach for sophisticated investors to leverage the advantages of having a focused portfolio. Core holdings provide stability, while satellite positions capture value from sector and theme rotations. Delivered 17.6% annualized returns over 3 years.
Private Credit Fund
Private Credit Fund
Structured capital. Disciplined deployment. Superior risk-adjusted returns.
Structured credit opportunities across real estate, corporate lending, and special situations—designed to deliver attractive risk-adjusted yields. Our SpECS platform emphasizes downside protection and capital preservation across cycles.
SpECS Fund I — ₹256 Cr | Fully returned
Navigated COVID-19 with complete capital preservation and zero defaults. Proved our crisis management capabilities with daily monitoring, working capital support, and successful exits delivering 16-19% IRRs.
SpECS Fund II — ₹595 Cr | 18 investments | Fully deployed
Tracking above our 16–17% IRR target with enhanced capabilities including larger ticket sizes, structured products with equity kickers, and sustainability-linked instruments. Portfolio spanning fleet management, healthcare, industrial catering, and green infrastructure.
SpECS Fund III — ₹750 Cr target (+ ₹250 Cr greenshoe) | Actively deploying
Expanding our credit franchise into high-growth sectors: Green Transition, Digital Infrastructure, Healthcare & Life Sciences, and Consumption & Brands. First close of ₹240 Cr achieved; ~₹400 Cr raised with deployment underway.
Unlisted Equities Fund
Unlisted Equities Fund
Growth capital. Governance focus. Multi-year compounding.
Spark Midas Investment Fund backs growth-hungry management teams to capitalise on India's economic growth opportunities. By adhering to reasonable entry valuations, we deliver multi-year compounding of capital invested.
We invest in businesses that are already profitable with strong financial performance, operating within mature governance frameworks, positioned for multi-year high growth with limited need for additional capital, and able to unlock meaningful value over a three to five-year horizon.
Spark Midas Investment Fund
Late-stage and near-IPO strategy targeting revenue-stage businesses that are already profitable, operating within mature governance frameworks, and positioned for multi-year high growth. We back companies at sensible valuations that can compound steadily over 12-20 quarters.
Public Equities
Quality businesses. Disciplined execution. Repeatable alpha.
Our Public Equities division offers two distinct strategies tailored to India's evolving market landscape.
The Flexicap Strategy delivers dynamic allocation across the market capitalization spectrum, optimizing exposure based on prevailing risk-reward conditions to generate superior returns over a two-to-three-year horizon.
The Core and Satellite Strategy builds a focused portfolio balancing high-conviction core holdings with tactical satellite positions, designed to capture alpha from the sector rotations that characterize Indian markets while benefiting from profit concentration among market leaders.
Spark India@75 Flexicap
A 20–30 stock portfolio with full flexibility across market caps—built for investors seeking broad-based, all-weather growth. Dynamic allocation optimizes exposure based on market risk-reward, delivering 19.1% annualized returns over 3 years.
Spark India@75 Core & Satellite
A calibrated investment approach for sophisticated investors to leverage the advantages of having a focused portfolio. Core holdings provide stability, while satellite positions capture value from sector and theme rotations. Delivered 17.6% annualized returns over 3 years.
Private Credit Fund
Structured capital. Disciplined deployment. Superior risk-adjusted returns.
Structured credit opportunities across real estate, corporate lending, and special situations—designed to deliver attractive risk-adjusted yields. Our SpECS platform emphasizes downside protection and capital preservation across cycles.
SpECS Fund I — ₹256 Cr | Fully returned
Navigated COVID-19 with complete capital preservation and zero defaults. Proved our crisis management capabilities with daily monitoring, working capital support, and successful exits delivering 16-19% IRRs.
SpECS Fund II — ₹595 Cr | 18 investments | Fully deployed
Tracking above our 16–17% IRR target with enhanced capabilities including larger ticket sizes, structured products with equity kickers, and sustainability-linked instruments. Portfolio spanning fleet management, healthcare, industrial catering, and green infrastructure.
SpECS Fund III — ₹750 Cr target (+ ₹250 Cr greenshoe) | Actively deploying
Expanding our credit franchise into high-growth sectors: Green Transition, Digital Infrastructure, Healthcare & Life Sciences, and Consumption & Brands. First close of ₹240 Cr achieved; ~₹400 Cr raised with deployment underway.
Unlisted Equities Fund
Growth capital. Governance focus. Multi-year compounding.
Spark Midas Investment Fund backs growth-hungry management teams to capitalise on India's economic growth opportunities. By adhering to reasonable entry valuations, we deliver multi-year compounding of capital invested.
We invest in businesses that are already profitable with strong financial performance, operating within mature governance frameworks, positioned for multi-year high growth with limited need for additional capital, and able to unlock meaningful value over a three to five-year horizon.
Spark Midas Investment Fund
Late-stage and near-IPO strategy targeting revenue-stage businesses that are already profitable, operating within mature governance frameworks, and positioned for multi-year high growth. We back companies at sensible valuations that can compound steadily over 12-20 quarters.
Solutions designed
around your goals
01
You partner with us for strategies that prioritise process over prediction. We offer access to institutional-quality opportunities—backed by:
- Two decades of integrated insight across public and private markets
- Proven track records with diversified alpha sources across multiple cycles
- Risk-adjusted returns that balance downside protection with equity upside
- Transparent governance under SEBI-regulated frameworks Experienced leadership with one of India's longest-serving fund managers (30+ years)
02
We provide flexible, well-structured capital that supports growth without diluting control. Through our private credit and unlisted equity platforms, we address India's funding gap with:
- Tailored capital structures including secured debt, mezzanine, equity kickers, and hybrid instruments
- Sector-deep expertise built over two decades across multiple cycles
- Strategic value-add beyond capital: market expansion, governance frameworks, IPO readiness
Decisive execution with clear terms and swift deployment - Long-term alignment through active board engagement without operational interference
