Oman India Joint Investment Fund II — OIJIF | Wisefolio

Oman India Joint Investment Fund II

Cat II · Managed by OIJIF

Growth Capital for India's Mid-Market

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Oman India Joint Investment Fund II (Fund II) is a SEBI-registered Category II Alternative Investment Fund managed by Oman India Joint Investment Fund Management Company Private Limited (OIJIF-MC), a leading private equity investment management firm focused on the mid-market segment in India. OIJIF-MC was established in 2011 and is promoted by two sovereign institutions — the Oman Investment Authority (OIA), Oman's sovereign wealth fund, and the State Bank of India (SBI), India's largest public sector bank. Fund II, registered in May 2016, is a growth capital private equity fund investing in the mid-market universe, targeting businesses in Consumer, Banking & Financial Services, Pharma & Healthcare, Technology, Industrials, and Specialty Chemicals. OIJIF-MC manages three funds collectively: Fund I, Fund II, and Fund III (recently approved), with aggregate AUM of approximately USD 330 million and total investments in 19 companies. The fund is headquartered at 604/605/606 Lodha Supremus, Lower Parel, Mumbai 400013. Notable Fund II portfolio investments include Stanley Lifestyles, Prince Pipes and Fittings, Crompton Greaves Consumer Electricals, Annapurna Finance, Senco Gold, DCB Bank, HomeLane, and Divgi TorqTransfer Systems. Fund II has delivered five successful IPOs from its portfolio. Satish Chavva became CEO of OIJIF-MC in April 2025, succeeding long-serving founder CEO Srinath S.

Investment philosophy

OIJIF focuses on opportunities in growth stage businesses in the mid-market universe, preferring well-positioned and scalable businesses in attractive industries with quality promoter and management teams, sustainable competitive advantages, and digital/tech-savvy operations. The fund seeks to build close working relationships with portfolio companies, adding value through active participation in governance decisions, fostering sustainable management practices, and maintaining strong corporate governance. OIJIF emphasises ESG matters and creating liquidity options within a reasonable timeframe.

Team18

Satish Chavva

Chief Executive Officer

Satish Chavva became CEO of OIJIF-MC effective 1 April 2025. He brings over 20 years of experience in private equity investing and finance. He previously served as Director of Investments at OIJIF from 2016 to 2022, leading several Fund II investments. After OIJIF, he was with British International Investment (BII), the UK's development finance institution, where he headed Direct Private Equity for South Asia. Earlier in his career, he was with Citi Group in India and the UK, including Citi Venture Capital International (CVCI), and with The Rohatyn Group. He holds a B.Tech from IIT Bombay, an M.S. in Computational and Applied Mathematics from UT Austin, and an MBA from INSEAD.

Srinath S.

Senior Advisor (Former CEO 2011–2025)

Srinath S. is Senior Advisor of OIJIF and was CEO of OIJIF-MC from inception in 2011 through 2025. He has over 35 years of industry and investment experience, including 24+ years in private equity across India and South East Asia. Under his leadership, OIJIF raised USD 240 million for Fund II and invested in 19 companies with 16 successful exits by 2025. Prior to OIJIF, he led the private equity business for FirstRand Bank of South Africa in India, and was Head of Private Equity at Reliance Capital.

Parita Ashar

Principal

Parita Ashar, CFA, is a Principal at OIJIF-MC and has been with the firm since 2017. She has 14+ years of experience across private equity investing and equity research. She manages investments in Annapurna Finance, Capital Small Finance Bank, PNB MetLife, and HomeLane, and has full-cycle experience including IPO of Capital Small Finance Bank and secondary exits in Annapurna Finance and PNB MetLife. Prior to OIJIF, she worked at Ambit Capital's institutional equities research desk. She is a Chartered Accountant and a CFA Charter Holder.

Vishal Verma

Director Investments

Vishal Verma is Investment Director at OIJIF-MC and has been with the fund since 2012, with 20+ years of professional experience including 16 years in private equity. He manages investments in Consumer and Financial Services sectors and has driven multi-bagger exits from Stanley Lifestyle and Prince Pipes. Previously, he was with ICICI Emerging India Fund and ICICI Bank's Investment Banking division. He holds an MBA from IIFT New Delhi and a B.Sc (Hons) from Delhi University.

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF2/16-17/0224

RegisteredMay 2016 (10 years ago)

Valid untilPerpetual

Address604/605/606 Lodha Supremus, Opposite Kamala Mills/World Tower, Mumbai, Maharashtra, 400013

Investment manager

OIJIF

Insights

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Disclaimer

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