Portfolio Valuation for PE, VC and AIF Funds — IPEV-aligned, LP-ready, audit-defensible

Private capital funds in India increasingly require independent third-party portfolio valuations — driven by LP expectations, Category II / III AIF regulatory disclosures, auditor preferences on fair-value measurement, and the need to defend carried-interest computations. Transique provides half yearly and annual portfolio-valuation engagements aligned with the IPEV (International Private Equity and Venture Capital) Valuation Guidelines, Ind AS 113 fair-value principles, and SEBI AIF Regulations.

Our model is designed for fund operating efficiency: a stable methodology framework, documented input governance, and a consistent report architecture LPs can read across periods.

When you need us

You are a Category I, II or III AIF requiring periodic independent portfolio valuation.
Your LPs have requested third-party valuation as a governance upgrade.
You are computing carried interest and need audit-grade valuation support.
You are raising a subsequent fund and want track-record-defensible valuations on the current portfolio.
Your auditor has raised fair-value measurement questions on the existing portfolio.

What we deliver

Portfolio-level valuation memorandum plus asset-level valuation workbooks.
Methodology framework (Price-of-Recent-Investment, DCF, Market-Multiples, Industry Benchmarks, Net Assets).
Governance documentation — source data, key-assumption logs, change-log vs prior period.
LP-reporting pack with portfolio-level summary and asset-level snapshots.
Auditor-walkthrough support.

Our methodology

Framework agreement. One-time exercise: asset-by-asset methodology framework, input sources, refresh cadence, escalation rules.
Quarterly refresh. Input update; method continuity check; exceptions triaged.
Valuation conclusion. Asset-level fair value; portfolio-level roll-up; period-over-period analytics.
Investment-committee memo; LP-ready pack; governance audit trail.
Audit support. Walkthrough with the fund auditor.

Technical grounding

IPEV 2025 Valuation Guidelines; IPEV Special Valuation Guidelines
Ind AS 113 hierarchy (Level 1, 2, 3) with documented level classification per asset.
Calibration to most-recent primary transaction where fresh transactions exist.
For Category III AIFs — stress-test of mark-to-market vs NAV approaches as appropriate to fund structure.

Representative engagements

Client/s	Location	Engagement type	Sector/s
Tavasya Special Situation Fund	Delhi	AIF Portfolio Valuation of C&C Projects, North Bihar Highway, Mokama Munger Highway, BSC-C&C Kurali Toll Road	BFSI
AMPM	Delhi	Private Equity Portfolio Valuation	Fashion Retail
Neulife	Mumbai	Private Equity Portfolio Valuation	Neutraceuticals
Goodera	California, USA	Private Equity Portfolio Valuation	CSR Tech Platform

Frequently asked questions

Are half yearly independent valuations mandatory for AIFs?

Under Regulation 23(2) of the SEBI AIF Regulations, Category I and Category II AIFs must have their investments valued by an independent valuer at least once every six months, extendable to annual valuation with the approval of at least 75% of investors by value. SEBI circulars prescribe valuation norms for AIFs, and detailed requirements vary by category and fund structure. Many LPs contractually require independent valuations regardless of regulation. We scope to the applicable framework.

How do you handle early-stage assets with no comparables?

Price-of-Recent-Investment (calibrated for time and material changes) is typical for the first 12 months, with a structured move to other methods (DCF, industry-benchmarks) as the asset matures or as information emerges. The methodology framework anticipates and documents the transition triggers.

What is the typical quarterly engagement timeline?

Two to three weeks to final report delivery, for a portfolio of 3-5 assets. Large portfolios are staggered over four to six weeks with a consolidated portfolio-level report at the end.

Can you produce LP-specific reporting cuts?

Yes. LP-customised cuts (by fund-of-funds mandate, by investor class, or by currency) can be prepared as part of the periodical pack.

Talk to us about your fund valuation

Use the Consult Us form at the top of this page, or book a call. A partner responds within one business day.

Book a 30-minute consultation Email us