Direct answers

Qualified HNIs, NRIs, global citizens, family offices and institutional LPs, subject to KYC/AML and suitability checks. Minimums: USD 25,000 (individual/HNI/NRI), USD 500,000 (family office), USD 1,000,000 (institutional) — smaller amounts at the board’s discretion. Eligibility is determined case by case under the offering documents.

No. As a Mauritius FPI structure, the fund cannot accept India-resident investors under the Indian FEMA framework. Indians living abroad participate through the NRI or OCI route, subject to eligibility.

NRIs and OCIs invest on the same terms as other individual investors (from USD 25,000), in USD, subject to KYC and the eligibility rules of your country of residence. Contact investor relations to confirm your specific situation.

Request access, complete the introduction and qualification conversation with investor relations, then KYC/AML and source-of-funds verification, then subscription through the fund’s offering documents. Subscriptions are in USD.

Twelve months from subscription, then quarterly redemption windows. The fund is evergreen — open entry and exit — with a standing 5–10% cash buffer and a majority-listed portfolio so redemptions are met from structure, not forced selling.

2% per annum management fee and a 20% performance fee over a high watermark. Full fee mechanics are set out in the offering documents.

USD for subscription, NAV and redemption. The underlying assets are INR-denominated; currency exposure is managed via non-deliverable forwards at the manager’s discretion. Hedging reduces, but does not eliminate, currency risk.

“Equisculpt Novem Fund” is the brand name of Novem Prime Incorporated VCC Sub-Fund (Registrar of Companies, Mauritius, No. C234119), a sub-fund of the umbrella vehicle Equisculpt Novem Capital VCC, which holds a Global Business Licence (No. GB26205965) from the Financial Services Commission, Mauritius. India access is through the SEBI FPI Category I route.

The Mauritius FSC / SEBI FPI corridor is the established institutional route for global capital into Indian securities — a regulated framework with segregated sub-fund assets under the VCC Act 2022, independent administration, and familiarity to global investors, administrators and auditors.

Custody of Indian securities sits with Orbis, India, under the FPI framework; administration and NAV computation with KFS, Mauritius; audit with an independent statutory auditor. Management, administration, custody and audit are deliberately separated.

No. The fund employs no leverage at any level, and no derivatives beyond currency hedging.

Five strategies across India’s private-to-public spectrum: QIB & anchor IPO positions (30–40%), small & micro-cap listed (20–30%), pre-IPO and unlisted secondaries (15–25%), mid-cap growth (10–20%) and special situations (5–10%), plus a 5–10% cash buffer.

Small-cap volatility, illiquidity (especially in the pre-IPO sleeve), the possibility of a planned IPO not happening, currency movement, and market drawdowns — among others. The dedicated risk page examines fifteen risk families; the offering documents contain the complete risk factors. Capital is at risk, including possible total loss.

No — and the distinction matters. All performance figures shown relate to the advisory activity of the Equisculpt Ventures group, a related entity. The fund itself is recently constituted with no operating history. The anchor book is verifiable against public exchange filings; the blended XIRR is manager-computed and not independently verified. Past performance is not indicative of future results.

Quarterly NAV and portfolio reporting from the independent administrator, plus investor letters and notices. A secure investor portal is on the platform roadmap; until it launches, reporting is delivered directly by investor relations.

NAV is computed by the independent administrator (KFS, Mauritius) under the fund’s valuation policy — listed positions at market, unlisted positions per the policy’s methodology — and reported quarterly.

Tax treatment depends on your residence and personal circumstances. The fund does not provide tax advice; investors should consult their own tax advisers. Fund-level tax considerations are described in the offering documents.

The investor deck downloads instantly at Request the Investor Deck. Offering documents, the verified deal sheet and due-diligence material are provided to qualified investors — under NDA where applicable — through investor relations.

Book a thirty-minute introduction at Request Access — the calendar invitation arrives in your inbox immediately — or write to ir@novemfund.com.