Shaan Patel Asset Management (SPAM), a Sebi-registered Category III Alternative Investment Fund (AIF) manager, has launched its Quant IPO Opportunity Fund, aiming to raise Rs 250 crore to capitalise on opportunities in India's growing primary market ecosystem.
A Category III Alternative Investment Fund (AIF) is a type of pooled investment vehicle regulated by the Securities and Exchange Board of India that employs diverse or complex trading strategies and may use leverage, including investments in listed and unlisted securities.
The fund has been launched with an initial commitment of Rs 20 crore and will invest in Mainboard and SME public offerings through Anchor Investor and Qualified Institutional Buyer (QIB) allocations. The investment strategy will be driven by a proprietary quantitative framework that combines data analytics, artificial intelligence and fundamental research.
The launch comes at a time when India's IPO market continues to witness a strong pipeline of listings and rising participation from institutional investors.
The Category III AIF is designed for high-net-worth individuals (HNIs), ultra-HNIs, family offices, corporate treasuries and institutional investors seeking exposure to India's IPO landscape through a structured and research-led investment approach.
According to the company, the strategy aims to generate long-term risk-adjusted returns by participating across the IPO lifecycle while dynamically allocating capital based on factors such as valuation, subscription trends, earnings visibility and liquidity conditions.
The fund will focus on companies operating in high-growth sectors, including artificial intelligence (AI), fintech, defence, renewable energy, electric vehicles (EVs) and semiconductors.
Unlike traditional IPO investing strategies that often focus on listing gains and short-term momentum, the Quant IPO Opportunity Fund follows a systematic investment process that evaluates businesses based on valuation attractiveness, sector positioning, financial strength and long-term earnings potential.
Commenting on the launch, Shaan Patel, Founder and Chief Investment Officer of Shaan Patel Asset Management, said that India's primary markets are entering a more mature phase, with an increasing number of high-quality businesses choosing public markets to fund growth.
"While IPO investing has traditionally been driven by subscription numbers and listing gains, we believe long-term wealth creation requires disciplined research, valuation-led investing and a robust quantitative framework. The Quant IPO Opportunity Fund has been built to bring institutional rigour to IPO investing and help investors participate in India's structural growth story," Patel said.
He added that the firm's vision is to combine technology, data science and fundamental research to create an investment strategy that extends beyond conventional IPO investing.
"By participating across both Anchor and QIB allocations and actively managing capital through quantitative models, we aim to deliver a differentiated investment experience focused on consistent, long-term wealth creation while maintaining a strong emphasis on risk management," he said.
Risk management forms a key pillar of the strategy, with the fund adopting portfolio diversification, disciplined exposure limits, continuous monitoring and a focus on fundamentally strong businesses with prudent leverage levels.
Headquartered in Ahmedabad, Shaan Patel Asset Management is a Sebi-registered Category III AIF manager that specialises in quantitative investment strategies leveraging artificial intelligence, data science and fundamental research to identify long-term investment opportunities.
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