Strategy/Class B
SME Project Partnerships

Structured. Secured. Aligned with cash flow.

The Fund participates in structured financing arrangements, project partnerships and growth-oriented SME transactions where there is a favorable risk-return opportunity supported by identifiable business fundamentals and operational visibility.

Instruments

Flexible across the capital stack.

The Fund can deploy across a range of structures — sized and shaped to the underlying transaction.

  • Revenue-linked financing
  • Project financing
  • Structured debt arrangements
  • Working capital partnerships
  • Manufacturing or trade-linked transactions
  • Hybrid financing structures
Underwriting framework

Five lenses on every transaction.

1. Project or Transaction-Specific Evaluation

Each opportunity is underwritten on its own commercial merits.

  • Nature of the project or transaction
  • Commercial viability
  • Revenue generation potential
  • Capital deployment requirements
  • Execution timelines
  • Repayment or exit visibility
Preferred where
  • Revenue visibility is reasonably identifiable
  • Demand drivers are established
  • Commercial contracts are available
  • Cash flow projections appear achievable

2. Company Evaluation

Operational and financial quality of the borrowing business.

  • Historical financial performance
  • Business stability
  • Operational scalability
  • Existing customer base
  • Supply chain position
  • Competitive advantage
  • Organizational capabilities
Also reviewed
  • Banking history
  • Tax and statutory compliance
  • Existing liabilities
  • Corporate governance practices
  • Financial reporting quality

3. Promoter Experience, Credibility & Ethics

Significant weight is placed on promoter quality and management integrity.

  • Industry experience
  • Execution capability
  • Business reputation
  • Ethical business practices
  • Historical business conduct
  • Litigation or compliance history
  • Financial discipline
  • Long-term alignment of interests
Preference for promoters with
  • Proven operational experience
  • Responsible capital management
  • Transparent business practices
  • Sustainable business vision

4. Market & Industry Study

Bottom-up market work supports each underwriting decision.

  • Industry demand analysis
  • Competitive positioning
  • Supply-demand dynamics
  • Regulatory environment
  • Input cost considerations
  • Market scalability
  • Sector-specific risks
Industry preferences
  • Sustainable demand
  • Growth potential
  • Operational resilience
  • Favorable long-term outlook

5. Structuring & Downside Protection

Where commercially feasible, transactions are structured with protective rights and monitoring mechanisms.

  • Security interests
  • Revenue-linked repayment structures
  • Cash flow monitoring mechanisms
  • Contractual protections
  • Step-in rights
  • Exit rights
  • Other downside mitigation arrangements
Operational control

We don't lend on trust — we sit inside the company.

SME project partnerships are deployed only where KN Advisors is installed as CFO and key management with full control over banking, accounts and finance. Investors are not relying on company-shared information about utilisation, growth stage or strategy — we watch everything by managing the organisation.

Embedded as CFO & key management

We invest only where KN Advisors is appointed into CFO and senior finance leadership roles inside the investee company.

100% control of banking

All bank accounts, payment authorizations and cheque-signing authority are operated by KN Advisors-appointed signatories.

Accounts & finance run by us

Books, MIS, payables, receivables, payroll, tax and audit are owned end-to-end by KN Advisors — not delegated back to the promoter.

Cash flow gating on deployment

Capital is released against verified milestones and live financials we ourselves prepare — not against information shared by the company.

Live operational visibility

We watch utilisation, margins, working capital and growth stage in real time because we are the ones running the finance function.

Investor protection by structure

Control is contractual — embedded into shareholder agreements, banking mandates and board observer rights from day one.