Nippon Life India Asset Management Ltd. has established a branch in GIFT City and obtained a Fund Management Entity (FME) license for fund management.

The first GIFT fund, "Nippon India Large Cap Fund GIFT," was launched in January 2025. This feeder fund invests in existing large-cap mutual funds in India.

Additional fund launches are in the pipeline, scheduled for later in the year, the company said in an investor presentation.

GIFT City is set up as an international business unit (IBU) based in Gandhinagar, Gujarat. The International Financial Services Centre Authority (IFSCA) serves as the regulatory body.

Meanwhile, Nippon India Alternative Investments (NIAIF) currently offers products across four business lines: Public Equity, Real Estate Credit, Performing Credit, and Tech VC. It has a total 18 AIF schemes currently. Total investor commitment raised as of Dec-2024 is Rs 69.8 billion, compared to Rs 59.8 billion in Dec-2023.

Fundraising is currently underway for Public Equity AIF (Nippon India Equity Opportunities AIF Scheme 9), Performing Credit AIF (Nippon India Credit Opportunities AIF Scheme 1) and Tech/VC AIF (Nippon India Digital Innovation AIF Scheme 2A"; a direct VC fund targeting investments in early to growth-stage start-ups).