Top GIFT City Funds for NRI Investing in 2026
Introduction
If you are an NRI exploring investment opportunities in India, GIFT City funds offer a far more efficient route compared to traditional structures. Instead of dealing with complex domestic accounts, you can invest directly through globally aligned frameworks. Over time, the number of USD-denominated AIFs and feeder funds in India’s IFSC has grown rapidly. Therefore, the real challenge today is not access—it is choosing the right fund.
This guide breaks down the Top GIFT City Funds for NRI Investing in 2026 in a clear and practical way. In addition, it compares fund strategies, minimum investment requirements, risk levels, and ideal investor profiles. Whether you are aiming for long-term equity growth, private equity-style returns, or better diversification, this analysis will help you make a well-informed decision.
Why GIFT City Funds Matter for NRIs
To begin with, GIFT City (Gujarat International Finance Tec-City) is India’s first operational International Financial Services Centre (IFSC). It is regulated by the International Financial Services Centres Authority (IFSCA), which follows globally aligned standards. As a result, NRIs benefit from a more streamlined and transparent investment environment.
One of the biggest advantages is USD denomination. This means you can invest, earn, and withdraw funds in foreign currency. Consequently, you avoid direct INR currency risk on returns. In contrast, traditional Indian investments often expose investors to currency fluctuations.
Another key benefit is tax efficiency. GIFT City funds are exempt from Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT). Moreover, they enjoy favorable capital gains treatment under IFSC regulations. Because of this, your net returns may be higher compared to similar domestic investments.
In addition, governance standards are designed to match international expectations. Investor protection frameworks are strong, and compliance requirements are clearly defined. At the same time, account opening and KYC processes are simpler for NRIs and foreign investors.
Typically, the minimum investment for most funds starts at USD 1,50,000. However, some funds allow entry at USD 50,000–75,000 for accredited investors. Therefore, investors with different capital sizes can still find suitable options.
How We Evaluated These Funds
Before selecting the Top GIFT City Funds for NRI Investing in 2026, it is important to understand the evaluation criteria. Rather than focusing only on returns, we considered multiple practical factors that influence real-world investment outcomes.
First, we looked at strategy clarity. A strong fund should have a clear and repeatable investment approach. Without this, performance may become inconsistent over time.
Next, we examined the track record of fund managers. While many IFSC funds are relatively new, their domestic history provides useful insights. Therefore, credibility and past performance played an important role in our assessment.
We also evaluated the USD structure of each fund. It was essential to ensure that the fund is fully compliant with IFSCA regulations and allows smooth capital repatriation. This is especially important for NRIs who want flexibility.
Another key factor was the minimum investment threshold. Since not all investors have the same capital allocation, accessibility matters. Consequently, we highlighted funds with both standard and lower entry points.
Finally, we analyzed the risk-return balance. Some funds offer higher returns but require longer lock-in periods. Others provide liquidity but with moderate returns. By comparing these trade-offs, we identified which funds suit different investor profiles.
Top GIFT City Funds for NRI Investing (2026)
Gift City fund fees for NRI investing in fixed management fees and variable fee.
1. Alchemy India Long Term Fund — Category III AIF
Manager: Alchemy Capital | Minimum: USD 1,50,000
Alchemy Capital manages one of the earliest funds to transition from Mauritius to IFSC. Under Hiren Ved, the strategy focuses on a concentrated portfolio of high-quality listed Indian companies. It follows a Growth at Reasonable Price (GARP) approach.
Best suited for: Investors seeking experienced active equity management with a disciplined strategy.
2. Carnelian AMC — India Amritkaal Fund, Category III AIF
Manager: Carnelian Asset Management | Minimum: USD 1,50,000
This fund mirrors Carnelian’s domestic strategy while offering a USD structure. It focuses on five long-term themes, including banking and manufacturing. In addition, it uses a structured QGARP framework.
Best suited for: Investors who believe strongly in India’s long-term growth story.
3. Motilal Oswal India Equity Fund of Funds — Category III AIF
Manager: Motilal Oswal | Minimum: USD 1,50,000
This fund provides diversified exposure by investing in an established large and mid-cap strategy. As a result, investors gain broad market coverage through a single vehicle.
Best suited for: Those looking for diversification without managing individual stock exposure.
4. Motilal Oswal Founder’s Strategy — Category III AIF
Manager: Motilal Oswal Alternative Investment (IFSC) Trust | Minimum: USD 1,50,000 (USD 50,000 for accredited investors)
This strategy focuses on companies where promoters hold significant ownership. Therefore, it aligns management incentives with shareholder returns. Notably, it also offers a lower entry point for accredited investors.
Best suited for: Investors seeking high-conviction, promoter-driven opportunities.
5. Mirae Asset India Equity Allocation Fund — Category III AIF
Manager: Mirae Asset | Minimum: USD 1,50,000
This fund invests across multiple mutual funds while also allocating capital to high-growth sectors. Consequently, it offers built-in diversification with global asset management expertise.
Best suited for: Investors who prefer a balanced and diversified approach.
6. PhillipCapital — Phillip India Billion Opportunities Fund
Manager: PhillipCapital | Minimum: USD 1,50,000 (USD 50,000 for accredited investors)
This active flexi-cap strategy targets high-growth sectors and emerging opportunities. In addition, it offers a relatively lower entry threshold for accredited investors.
Best suited for: Growth-focused investors looking for flexibility and accessibility.
7. Aditya Birla Sun Life — Global Bluechip Equity Fund & India Flexicap Fund
Manager: Aditya Birla Sun Life (ABSL) | Minimum: USD 1,50,000+
These funds provide both global and Indian equity exposure under a single platform. Therefore, investors can diversify across geographies while maintaining a unified structure.
Best suited for: Investors seeking both domestic and international exposure.
8. Neo Secondaries Fund — Category II AIF (Private Equity)
Manager: Neo Secondaries | Minimum: USD 1,50,000
Unlike traditional private equity funds, this strategy focuses on secondary investments in mature companies. As a result, it reduces early-stage risk while maintaining strong return potential.
Best suited for: Investors comfortable with lock-in periods who want private equity returns.
9. Bharat Value Fund IFSC — Category II AIF (Private Equity)
Manager: Bharat Value Fund | Minimum: USD 1,50,000
This fund targets undervalued mid-market businesses with strong growth potential. It focuses on sectors such as manufacturing and consumption, with defined exit timelines.
Best suited for: Investors looking for structured private equity exposure.
Quick Comparison: Top GIFT City Funds for NRIs
| Fund | Category | Strategy | Min. Investment | Best For |
|---|---|---|---|---|
| Alchemy India Long Term | Cat III AIF | Active equity (GARP) | USD 1,50,000 | Conviction equity, experienced manager |
| Carnelian Amritkaal | Cat III AIF | Flexi-cap, 5 themes | USD 1,50,000 | Thematic, structural India bulls |
| Motilal Oswal FoF | Cat III AIF | Large & Mid Cap FoF | USD 1,50,000 | Broad equity, trusted brand |
| Motilal Founder’s Strategy | Cat III AIF | Promoter-driven equity | USD 50K–1,50,000 | High conviction, lower minimum |
| Mirae Asset Equity Allocation | Cat III AIF | Multi-cap feeder | USD 1,50,000 | Diversified, global AMC |
| PhillipCapital Billion Opps | Cat III AIF | Active flexi-cap | USD 50K–1,50,000 | Growth-oriented, accessible entry |
| ABSL Global + Flexicap | Cat III AIF | Indian + Global equity | USD 1,50,000+ | Product range, large AMC |
| Neo Secondaries | Cat II AIF (PE) | Secondary PE | USD 1,50,000 | PE returns, lower risk than VC |
| Bharat Value Fund IFSC | Cat II AIF (PE) | Mid-market PE, IPO exit | USD 1,50,000 | Manufacturing/consumption PE |
How to Choose the Right GIFT City Fund
Choosing the right fund depends on your goals, risk appetite, and investment horizon.
If liquidity is important, Category III AIFs are generally more suitable. On the other hand, Category II AIFs offer higher return potential but require longer lock-in periods.
For investors with smaller allocations, funds with lower minimum investments provide easier entry. Meanwhile, those seeking global brand reliability may prefer established asset managers.
Ultimately, aligning your investment choice with your financial goals is more important than chasing returns alone.
What You Need to Invest in GIFT City Funds as an NRI
Before committing, ensure you have the following in order:
- Valid passport and OCI/PIO card (if applicable)
- Overseas address proof (utility bill or bank statement)
- FEMA-compliant KYC documentation
- NRIs can invest in GIFT City AIFs using funds remitted directly from overseas accounts, but the investment still flows through IFSC-based banking/custody infrastructure, even if the investor does not open a personal IFSC bank account.
- Investment horizon of minimum 3–5 years for equity funds; 4–7 years for PE funds
All GIFT City funds require investments in USD. Repatriation of profits and capital is permitted freely under FEMA guidelines.
Frequently Asked Questions
Most GIFT City funds require a minimum of USD 1,50,000. Select funds — including PhillipCapital’s Billion Opportunities Fund and Motilal Oswal’s Founder’s Strategy — allow entry from USD 50,000 for accredited investors.
GIFT City investments benefit from exemptions on STT, CTT, and stamp duty. Capital gains treatment is determined under IFSC regulations and may differ from standard Indian taxation. Consult a tax advisor for your specific country of residence.
Yes. Profits, dividends, and capital can be freely repatriated in foreign currency under FEMA guidelines applicable to IFSC investments.
Regular AIFs are denominated in INR and governed by SEBI. GIFT City funds are USD-denominated, regulated by IFSCA, and specifically structured for NRI and foreign investor participation — with tax and repatriation advantages not available in domestic AIFs.
GIFT City operates under IFSCA, which aligns with international regulatory standards. However, all fund investments carry market or liquidity risk depending on the fund type. Due diligence on each fund’s track record and mandate is essential.
Next Step
If you are an NRI considering GIFT City fund investment, register on the Kalviro Ventures platform to access fund factsheets, PPTs, and performance data — or book a call with our team for a personalised fund selection walkthrough.
