Asset manager Caravella has launched a new plug-and-play fund platform in GIFT City, aimed at helping Indian and global investment managers establish funds more quickly under the regulatory framework of the International Financial Services Centres Authority (IFSCA).
The platform, known as the Caravella IFSC Fund Platform, is designed to simplify the process of launching investment schemes from India’s international financial hub in Gujarat. Caravella is among the early Fund Management Entities (FMEs) approved under the IFSCA (Fund Management) Regulations, 2025, allowing it to establish and manage funds on behalf of third-party managers.
Under the traditional system, asset managers seeking to launch funds in the Gujarat International Finance Tec-City (GIFT City) typically need to obtain a separate FME licence, set up local offices, recruit compliance teams and meet regulatory capital requirements. Caravella’s new model allows fund managers to operate using the company’s existing regulated infrastructure, removing many of these barriers.
The company says the platform could enable investment managers to launch funds in as little as 60 days, significantly reducing the time, cost and operational complexity associated with setting up a fund structure in the IFSC.
Through the platform, a wide range of investors—including institutional investors, family offices, non-resident Indians (NRIs), overseas citizens of India (OCIs), and high-net-worth individuals—will be able to access investment vehicles based in GIFT City.
Caravella will provide the regulatory and operational framework required for fund launches, allowing managers to focus on investment strategy, capital raising and portfolio management. The company will handle areas such as regulatory compliance, governance, operational infrastructure and coordination with service providers.
Taruna Dhingra, Chief Executive Officer of Caravella Asset Management, said the initiative marks an important step in improving access to GIFT City for global investors and fund managers.
She said the platform institutionalises the regulatory and operational backbone required to run investment funds, helping reduce the traditional complexities of launching and managing such structures. According to Dhingra, the aim is to enable managers to concentrate on building investment strategies while Caravella manages the underlying infrastructure and governance requirements.
The platform offers support across the entire fund lifecycle, including scheme structuring, regulatory registration, compliance reporting, documentation and operational setup. It also facilitates coordination with custodians, administrators, auditors and banking partners.
Caravella says the framework is strategy-agnostic, meaning it can support both open-ended and closed-ended investment structures, provided they comply with IFSCA regulations.
Industry observers say initiatives such as these could strengthen GIFT City’s role as a global financial hub, making it easier for domestic and international managers to launch funds targeting India-focused and cross-border investment opportunities.
