AlphaGrep Securities, a leading quantitative investment firm specializing in systematic strategies, has announced that it has received the in-principle approval from SEBI to sponsor a mutual fund.

This approval marks a significant milestone in AlphaGrep’s journey to bring its data-driven, technology-powered investment capabilities to a broader retail and institutional investor base in India, according to a press release.

Founded by Mohit Mutreja and Parshant Mittal in 2010, AlphaGrep has built a specialised quant trading and investment platform. AlphaGrep manages more than Rs 8500 crore globally.

AlphaGrep Investment Management (AGIM) is the asset management vertical in India that will house the proposed Mutual Fund business. AGIM has an AUM of more than Rs 2,000 crore and 500+ clients across two SEBI-registered CAT III AIFs (long-short), Long Only PMS, and GIFT City-domiciled outbound CAT III AIF.