AIFs are SEBI-regulated funds (Category I, II, III) that pool capital from HNIs and institutions to invest in private equity, venture capital, SMEs, and other alternative assets, typically requiring a ₹1 crore minimum. Alpha AMC operates one such Category I AIF. Alternative Investment Funds (AIFs) give sophisticated investors regulated access to private markets — startups, SMEs, and private equity. Alpha AMC manages a SEBI-registered AIF in this space.