Malayali business tycoon to set up Rs 500 cr fund for SME growth

Kochi: Malayali entrepreneur and investor Siddharth Balachandran is gearing up to launch an investment fund worth Rs 400-500 crore, aimed at supporting small and medium enterprises (SMEs) and startups across India, with a special focus on ventures based in Kerala. 

Siddharth said the initiative is intended to provide growth capital to promising businesses, helping them scale. As part of the plan, one of the world's top four global consulting firms will be brought in to assess the fund’s potential and structure.

Siddharth Balachandran currently serves as Executive Chairman and CEO of Buimerc Corporation Ltd, headquartered at the Dubai International Financial Centre (DIFC). He is also a prominent investor in Indian financial markets, holding a 3.01 per cent stake in the Bombay Stock Exchange (BSE), making him one of its largest individual shareholders. He also owns a 0.40 per cent stake in the National Stock Exchange (NSE), along with investments in other major institutions like LIC, SBI, and NSDL.

Expressing confidence in India’s long-term economic prospects, Balachandran pointed to the surge in domestic stock market participation. “The number of retail investors in India has grown from Rs 1.2 crore to over Rs 10–11 crore. This could eventually rise to 20 per cent of the population,” he said, calling it a promising sign for the country’s financial future.