Fund Management
Category I AIF
Fund Management Entities, AIFs, retail schemes and PMS
About this entity type
A very brief overview
GIFT IFSC replaces the traditional fund-plus-manager licensing with a single registration for the Fund Management Entity (FME). An Authorised FME can launch venture capital schemes; a Registered FME (Non-Retail) can launch restricted (Category I/II/III style) schemes and offer portfolio management; a Registered FME (Retail) can additionally launch retail schemes and ETFs. Schemes are then filed with IFSCA under the FME's registration.
Who it suits: Domestic and offshore fund managers, family offices, PE/VC sponsors, and PMS providers pooling global capital.
Applicable regulation
IFSCA (Fund Management) Regulations, 2025
FME categories, minimum net worth, key managerial personnel, scheme filing, investor eligibility, valuation and disclosure norms.
Official sourceIFSCA circulars on schemes and PMS
Operational circulars covering scheme documentation, co-investment, distribution and periodic reporting.
Official source
Registered entities
Entities registered under Category I AIF
23 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| 3one4 Capital Greenstage Fund | Category I AIF | IFSC/AIF1/2024-25/022712 Mar 2025 | Perpetual / Not stated |
| 3one4 Capital IFSC - Fund V | Category I AIF | IFSC/AIF1/2026-27/036714 May 2026 | Perpetual / Not stated |
| 3one4 Capital IFSC Fund | Category I AIF | IFSC/AIF1/2022-23/004303 Mar 2023 | Perpetual / Not stated |
| Activate AI GIFT Fund I | Category I AIF | IFSC/AIF1/2026-27/037225 May 2026 | Perpetual / Not stated |
| Asha Ventures GIFT Trust | Category I AIF | IFSC/AIF1/2023-24/009017 Nov 2023 | Perpetual / Not stated |
| Athera GIFT Fund IV | Category I AIF | IFSC/AIF1/2023-24/005631 May 2023 | Perpetual / Not stated |
| Avinya Ventures Offshore | Category I AIF | IFSC/AIF1/2023-24/006428 Aug 2023 | Perpetual / Not stated |
| BEEGlobal FOF | Category I AIF | IFSC/AIF1/2026-27/036613 May 2026 | Perpetual / Not stated |
| Blume Ventures Gift Trust 1Y | Category I AIF | IFSC/AIF1/2023-24/005324 Apr 2023 | Perpetual / Not stated |
| Centre Court Capital Global Fund I | Category I AIF | —— | Perpetual / Not stated |
| Centre Court Capital IFSC Fund I | Category I AIF | IFSC/AIF1/2023-24/010210 Jan 2024 | Perpetual / Not stated |
| Equirus InnovateX Gift City Fund I | Category I AIF | IFSC/AIF1/2024-25/016717 Sept 2024 | Perpetual / Not stated |
| FinSight Ashika India Fund | Category I AIF | IFSC/AIF1/2024-25/017204 Oct 2024 | Perpetual / Not stated |
| Future Now IFSC Fund III | Category I AIF | IFSC/AIF1/2025-26/030515 Sept 2025 | Perpetual / Not stated |
| Grand Anicut (IFSC) Angel Fund 1 | Category I AIF | IFSC/AIF1/2023-24/011826 Mar 2024 | Perpetual / Not stated |
Timeline & approach
How we take Category I AIF from plan to authorisation
Step 1
Eligibility & structure
Week 1
We map your activity to the right IFSCA category and sub-category, confirm net worth, KMP and shareholding eligibility, and fix the holding structure.
Step 2
SEZ unit approval
Weeks 2–4
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Weeks 3–8
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Weeks 8–14
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Indicative cost
USD 7,000 – 16,000 for FME registration + per-scheme filing
Retail FME mandates are higher; scheme filings are quoted per scheme. Regulator fees at actuals.
Why GIFT City Gateway
Why sponsors pick us for this
Category specialists
We work only on GIFT IFSC mandates — the regulation, the reviewer questions and the SEZ process are our daily work.
One accountable owner
A named Gateway lead runs your application end to end, not a rotating coordinator queue.
Live intelligence
We track every authorised entity in this category, so your structure is benchmarked against real precedents.
Setup to steady state
Registration hands over into a live compliance calendar in your client portal — no gap after go-live.
Next step
Tell us what you need for Category I AIF
Share your plan and we respond with the eligibility read, the document list, the indicative timeline and a fee.
- • Eligibility and net-worth check against the applicable regulation
- • Structure options (branch vs subsidiary, holding jurisdiction)
- • Week-by-week plan across SEZ and IFSCA
- • Fixed-fee proposal with the compliance calendar that follows
Lead details