Growth and late-stage private equity fund research profile
ValueQuest S.C.A.L.E. is a domestic growth-equity strategy backing proven Indian businesses at late-stage and growth-stage inflection points. The manager combines a research-led platform with concentrated private-market portfolios across financial services, healthcare, technology, consumer and energy-transition businesses.
At a glance
Research profile
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Investment lens
ValueQuest S.C.A.L.E. Fund uses a growth and late-stage private equity; significant-minority investments approach across Financial services, healthcare, technology, consumer.
Current evidence
ValueQuest's current S.C.A.L.E. Fund II disclosure records a June 2025 first close, active deployment and a ₹3,000 crore target plus a ₹1,000 crore greenshoe; the manager's private-equity page has been updated for 2026.
Strategy
Growth and late-stage private equity; significant-minority investments
Sector focus
Financial services, healthcare, technology, consumer
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
ValueQuest's current S.C.A.L.E. Fund II disclosure records a June 2025 first close, active deployment and a ₹3,000 crore target plus a ₹1,000 crore greenshoe; the manager's private-equity page has been updated for 2026.
Investor questions
ValueQuest S.C.A.L.E. Fund is covered in Rupeia's private equity research universe. The current public record describes the strategy as Growth and late-stage private equity; significant-minority investments, with a sector focus of Financial services, healthcare, technology, consumer. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to ValueQuest S.C.A.L.E. Fund in the reviewed public sources: Waaree Energies, RR Kabel, Zaggle, TBO Tek, Unimech Aerospace, Solarworld, Jupiter International, Rentomojo, Sabine Hospitals, ToneTag, Purple Style Labs, Melorra, Veeda Clinical Research, Wow Momo, CoreEL Technologies, MTandT Rentals. It does not represent a complete current portfolio unless the manager has published one.
The manager's current portfolio disclosures identify more than 15 attributable companies, including public-market names such as Waaree Energies, RR Kabel, Zaggle and TBO Tek, as well as private growth investments such as Sabine Hospitals, ToneTag and MTandT Rentals. Fund-level realised-return metrics are not independently disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Fund I: ₹1,350 crore, according to the manager. Fund II: ₹3,000 crore target plus ₹1,000 crore greenshoe; first close June 2025. These are vehicle-specific figures.. Public terms or access information: Fund I and Fund II are Category-II AIF private-equity vehicles with seven- to eight-year stated tenures and a growth/late-stage approach. Detailed fee, carry and reserve terms are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Ravi Dharamshi; Sameer Shah; Aniket Dharamshi; Pushkar Jauhari. Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: Fund-level IRR, DPI and TVPI are not independently disclosed in the reviewed record. Current Fund II deployment beyond the manager's disclosed investee count is not fully disclosed..
2025-06-30: ValueQuest's current S.C.A.L.E. Fund II disclosure records a June 2025 first close, active deployment and a ₹3,000 crore target plus a ₹1,000 crore greenshoe; the manager's private-equity page has been updated for 2026.
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