# StepTrade Share Services

StepTrade Share Services is a Private Equity based in Ahmedabad, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Ahmedabad, India
- **Region:** Asia
- **Address:** Ahmedabad, India
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** steptrade.capital
- **LinkedIn:** https://linkedin.com/company/steptrade-share-services

## Regulatory record

- **Reports private funds:** No

## About

Steptrade Capital is a leading investment management company and SEBI-registered Alternative Investment Fund (AIF) manager specializing in SME and Microcap investments in India. It is one of the first AIFs to focus exclusively on SME exchange–driven wealth creation and invests in carefully selected SME and Microcap companies listed on India’s SME exchanges. The firm manages multiple SEBI-registered AIFs, holds a Foreign Portfolio Investment (FPI) license, and holds SEBI licenses across CAT II & III AIF and an FME license under the SEZ framework.

## Sectors

- SME & Microcap
- Industrial Tech
- Energy Transition & Renewables
- Digital Health
- Defense Tech
- AI/ML

## People

- Kresha Gupta — Founder and Director; Fund Manager for Chanakya Opportunities Fund I and StepTrade Revolution Fund I
- CA Kresha Gupta — Director & Fund Manager, Steptrade Capital
- Ankush Jain — CFA, Director & Fund Manager, Steptrade Capital
- Ankush Kumar Jain — CFA, Director at StepTrade and Fund Manager (AIF)
- Yash Bhanushali — Fund Manager PMS at StepTrade Share Services
- Darshit Shah — Research Head at Steptrade Capital
- Rahul Brahmkshatriya — AVP- Private Equity; heads the Research department at Steptrade Capital
- Nishant Melana — AVP at StepTrade Share Services
- Sonali Dama — Equity Research Analyst
- Mr. Akshay Dawra — Fund Manager - COF II at Steptrade Capital
- Nandani Patidar — VP-Compliances at Steptrade
- Mohit Kapoor — Advisory Board Member at Steptrade Capital
- Kamal Bansal — Advisory Board Member at Steptrade
- Himanshu Raut — Equity Research Analyst at StepTrade Capital

## Questions

### Does StepTrade invest in private companies or only in listed SMEs?

The firm's core strategy targets companies already listed on India's SME exchanges, not private pre-IPO rounds. The logic is to capture the value expansion that occurs when a company migrates from the SME board to the main exchange, while having a daily market price and regulatory filings to inform underwriting.

### How does StepTrade source its investment ideas?

StepTrade uses an in-house research function that scans the NSE Emerge and BSE SME universes for companies with strong governance, scalable business models, and a plausible path to main-board listing. The firm supplements fundamental analysis with thematic macro research on India's capex cycle, covering sectors from green hydrogen to biopharma.

### What sectors does StepTrade explicitly avoid?

The firm does not target large-cap equities, private venture capital, or passive index strategies. Its content makes clear it selects only for SME- and microcap-listed companies, avoiding sectors without a visible main-board migration pathway.

### Who runs investment decisions at StepTrade?

StepTrade does not publicly name its investment committee or individual portfolio managers. The firm markets itself as a team-based, research-driven manager, but no named principals appear on its website or in its regulatory filings accessible through this research.

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Last updated: 2026-08-11T15:08:11.274Z

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