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SEBI-Registered Alternative Investment Fund

ICON Capital Trust

A professional gateway to private markets.

Enter high-growth companies early at competent valuations, hold through IPO readiness, exit via OFS or the public markets.

0 Cr Fund Corpus
2024 SEBI Registered
Pre-IPO & Late-Stage Focus
0 Cr GIFT City AIF — 2026
Investment Thesis

Target early. Hold for listing.
Exit with discipline.

Target High-Growth

Entry at competent valuations early in the cycle, in companies with proven business models and audited financials.

Hold for IPO

Companies prepared for listing within 6–24 months — with Amatya's IPO advisory engine accelerating the journey.

Strategic Exit

Exits via OFS or the public markets, targeting multifold returns with a credible, time-bound liquidity plan.

The Hidden Opportunity

Pre-IPO: the sweet spot between
startup risk and public-market returns

🌱

Startup

0–3 Years
Proven business model
Audited financials
Clear path to exit
Potential: 10–50x
Very High Risk
🏛️

Public

10+ Years
Listed & transparent
High liquidity
Priced-in growth
Potential: 1.2–2x
Low Risk
Sourcing Discipline

How we find
IPO-ready winners

Scout → Validate → Co-Invest. We tail institutional rounds, adding advisory value and secured allocation.

200+
Companies TrackedPre-IPO stage, ₹50–200 Cr revenue, growth sectors — tech, healthcare, consumer.
30–40
IPO Readiness FilterClean governance, an 18–24 month timeline, market timing and sentiment check.
15–20
Institutional ValidationMarquee lead investors have entered; institutional due diligence completed.
8–10
Strategic Co-InvestmentsWe invest alongside the institutions — with ICON's IPO expertise added.

Our Co-Investment Criteria

  • Institutional lead investor
    A marquee institution leading the round before we commit.
  • Minimum round size
    ₹50 Cr+ institutional commitment in the round.
  • IPO timeline
    A clear path to listing within 18–24 months.

"They're not just picking companies — they're deal-makers who only invest when big institutions lead. I'm getting the same deals as the large funds, but with ICON's IPO expertise added."

— An ICON Investor

Capital Protection

Four guardrails, an early-warning
system, and a downside playbook

01

Concentration Limits

No single company receives more than 15% of fund capital — diversification by design.

02

Valuation Discipline

Entry at the ₹500–2,000 Cr sweet spot, 12–24 months from IPO — not seed, not post-listing.

03

Financial Covenants

Revenue above ₹100 Cr, positive unit economics, Big-4 audited, board-approved IPO plan within 24 months.

04

Exit Readiness

We invest only where a credible, time-bound exit plan exists — with a DRHP draft ready.

Downside Playbook

What we do when things go wrong.

IPO Delayed

Activate the secondary-market buyers list and explore strategic M&A options.

Metrics Drop

Escalate concerns to lead investors and review the management action plan.

Valuation Gap

Work with co-investors on alternate exit strategies or a partial secondary exit.

Invest in tomorrow's market leaders

Speak to us about ICON Capital Trust, upcoming schemes and the GIFT City fund planned for 2026.

Enquire as an Investor