Governance & Regulation

Dual-regulated. Independently overseen.

The fund operates inside two of the most established frameworks for cross-border investment into India: the Mauritius FSC global business regime and the SEBI Foreign Portfolio Investor framework. Registration details are published here in full.

Registrations

The legal entities

Equisculpt Novem Capital VCC

The umbrella under which the sub-fund sits - a variable capital company authorised under Section 7 of the Mauritius Variable Capital Companies Act 2022, holding a Global Business Licence granted under Section 72(6) of the Financial Services Act by the Financial Services Commission, Mauritius.

Licence No.: GB26205965
Licence code: FS-4.1 · Global Business Licence
Granted: 7 May 2026
Regulator: Financial Services Commission, Mauritius

Novem Prime Incorporated VCC Sub-Fund

The legal entity offered under the brand “Equisculpt Novem Fund” - incorporated as a sub-fund under the umbrella of Equisculpt Novem Capital VCC and registered as a public company limited by shares with the Registrar of Companies, Republic of Mauritius.

Company No.: C234119
Incorporated: 30 April 2026 · Port Louis, Mauritius
Form: Public company limited by shares
SEBI FPI status: Registered Foreign Portfolio Investor · Category I
SEBI FPI Reg. No.: INMUFP064926

Certificates of incorporation and licensing are available for inspection by qualified investors as part of due diligence.

Standing Obligations

What the licence requires - continuously

The FSC Global Business Licence is not a one-time stamp. It carries standing conditions the company must maintain, including:

An anti-money-laundering and counter-terrorist-financing framework, adopted, enforced and re-assessed annually.
Corporate-governance measures devised, maintained and reviewed by the board on an ongoing basis.
Prompt notification to the Commission of any material change in purpose or working principle.

Delegated and outsourced functions restricted to competent, capable and fit providers - with responsibility remaining with the company.
All books and records available for inspection by the Commission, wherever they are kept.
A licensed management company serving as company secretary at all times.

Independent Functions

Service providers

Management, administration, custody and audit are deliberately separated, so no single party both controls the assets and keeps the record of them.

Investment manager: Dewberry Investment Management LtdFSC-licensed CIS Manager, Mauritius - meet the team
Administrator: KFS (Mauritius) LtdIndependent NAV computation, registry, transfer agency, investor reporting - and company secretary
Custodian: Orbis, IndiaCustody of Indian securities under the FPI framework
Auditor: Anathiva, MauritiusAnnual audit of the fund’s financial statements
Company secretary: KFS (Mauritius) LtdAs required under the Global Business Licence conditions
Banker: SBM Bank (Mauritius) LtdFund banking, Port Louis
Legal advisers: Madun Gujadhur Chambers LLPMauritian law · Cybercity, Ebene
Board of directors: Devendra Seebaluck · Nawsheer Emamdy · Jitendra AgrawalThe board of the sub-fund, per the offering documents
Investment Committee: Devendra Seebaluck · Mithilesh Soobarah · Jitendra AgrawalRecommends every position, exit and material change to the board of the investment manager
Board of the investment manager: Mithilesh Soobarah · Maariyah Bahemia Hossany · Amal AutarApproves investment, divestment and asset-management decisions on the committee’s recommendation, and supervises the committee - per the offering documents

Investor Protections

Discipline, by design

Segregation

Sub-fund assets and liabilities are segregated under the Mauritius VCC Act 2022. The fund does not employ leverage at the fund level.

Verification culture

KYC/AML and source-of-funds verification for every investor. Exchange-verifiable claims are labelled as such; manager-computed figures are labelled as such.

Restriction honoured

The fund does not accept India-resident investors, in line with FEMA and the SEBI FPI framework. Eligibility is assessed case by case - and declined where it must be.

Request Due-Diligence Material