The Indian Alternative Investment Fund (AIF) landscape is not just growing it is specialising. While the overall AUM explodes, the real engine powering India's entrepreneurial and infrastructural ambitions lies within Category I and Category II AIFs. As of late 2025, commitments to Venture Capital (VC), Private Equity (PE), Infrastructure, and SME funds are soaring, projected to contribute over ₹8 Lakh Crore to the AIF AUM, fuelling start-ups, scaling mid-market champions, and building the nation's backbone.
This explosive growth has created unprecedented demand for professionals with specialised expertise in managing these specific fund categories. The generic knowledge is no longer enough. Employers of the VC firms, PE houses, and Infrastructure funds are seeking individuals who deeply understand the unique investment processes, regulatory nuances, and valuation challenges specific to unlisted, early-stage, and growth-stage assets.
The NISM Series XIX-D: Category I & II Alternative Investment Fund Managers Certification is the definitive, SEBI-recognised credential that validates this specialised competence. However, it is a deeply technical and challenging examination.
Are you finding the preparation daunting? Are you struggling with:
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The specific SEBI regulations governing Category I & II AIFs (distinct from Category III)?
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Valuation methodologies for start-ups and unlisted growth companies?
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The intricacies of deal sourcing, due diligence, and exit strategies in VC/PE?
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Understanding the crucial "pass-through" tax status and its implications?
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The pressure of a case-study focused exam with negative marking?
You need a preparation strategy as specialised as the certification itself.
NISM Series-XIX-D:Category I & II AIF Managers Cert.
Course Duration:25-30 hours
Course Fee - ₹30,000 - ₹40,000
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Mode: 100% Live Online Classes
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Faculty: Industry Experts with 15+ years of experience
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Session Type: Case studies + Q&A Live Discussion
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Study Material: 2025 Updated Notes
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Mock Tests: Included with detailed explanations
Welcome to the Premier Live Online NISM XIX-D Classes by NISMExams.in.
This is not a generic AIF course. This is a targeted, expert-led online NISM 19D Category I & II AIFM course meticulously designed to equip you with the precise knowledge and skills needed to conquer this specific exam and excel in your specialised career path. We provide the most focused and effective online NISM Category I & II Alternative Investment Fund Managers course available.
Why Choose Our Specialised Live Online NISM XIX-D Classes?
We understand the unique demands of the NISM XIX-D certification. Our program is built from the ground up to address the specific challenges and nuances of Category I and Category II fund management.
Learn from the Masters: Industry Expert-Led Batches (15+ Years VC/PE Experience)
Gain knowledge directly from professionals who have built their careers in the very domains this exam covers. Our instructors are not general finance trainers; they are highly experienced industry professionals – successful VC/PE investors, fund managers, and compliance heads -each with over 15 years of specific experience in launching, managing, and exiting investments in start-ups, SMEs, and infrastructure projects. They bring unparalleled real-world context, practical case studies, and invaluable insights that go far beyond the textbook.
Your Time, Your Schedule: Flexible Learning Options
Designed for busy professionals, our online NISM 19D classes offer unmatched flexibility:
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Weekdays and Weekend Batches: Select a schedule that aligns perfectly with your professional commitments.
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Convenient Timings: With 3 live batches running every week (morning, evening, weekend options), learning fits seamlessly into your life.
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Engaging Session Duration: Each live class is 1 hour 30 minutes - optimised for deep learning, interaction, and concentration.
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Focused Curriculum: The entire specialised NISM XIX-D syllabus is covered efficiently within 25-30 hours of live instruction.
Our Commitment: Handholding Support Until You Clear NISM Exam
Your certification success is our primary goal. We stand by you throughout your journey.
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First-Attempt Success Focus: Our teaching methodology, curriculum, and practice materials are all geared towards helping you pass on your very first try.
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Unlimited Batch Access: We offer unique handholding support until you clear your NISM exam. If you are unsuccessful after completing our course, you are welcome to re-attend our live classes in subsequent batches for revision and reinforcement, at no additional cost. We are truly invested in your success.
Deep Dive Learning: Case Studies + Q&A Live Discussion
Master the complexities of VC/PE/Infra/SME fund management through practical application:
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Real Case Study Questions: Our curriculum revolves around deconstructing real case study questions specific to Category I & II AIFs – evaluating a term sheet, performing due diligence on a start-up, calculating fund performance (IRR, DPI), navigating specific SEBI regulations.
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Live Q&A Discussions: Get instant clarification on complex topics. Ask questions directly to our industry experts during the interactive sessions.
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Collaborative Environment: Benefit from the insights and questions of fellow professionals in our small, focused batch sizes.
Your Complete NISM XIX-D Toolkit
Enrolment unlocks our comprehensive ecosystem of specialised preparation resources:
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2025 Updated Notes: Access our proprietary Quick Revision Notes & Key Concepts, laser-focused on the NISM XIX-D syllabus and latest regulatory updates for Cat I & II.
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Specialised Mock Tests Included: Practice with our highly-rated NISM XIX-D Mock Test series, featuring updated questions with detailed explanations specific to VC/PE/Infra/SME scenarios.
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Free Demo Exam Available: Try our platform and gauge the quality and relevance of our questions before you commit.
Mastering Category I & II Nuances: Curriculum Highlights
Our online NISM 19D certification course delves deep into the specific knowledge areas critical for passing the exam and excelling in your role.
Key Specialised Modules We Cover:
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AIF Ecosystem (Cat I & II Focus): Understanding the specific roles and economic impact of Venture Capital, Private Equity, SME, Infrastructure, and Social Venture Funds.
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Regulatory Framework (Cat I & II Specifics): Mastering the SEBI (AIF) Regulations, 2012 as they apply to Category I & II, including investment conditions, diversification norms, borrowing restrictions, and specific benefits.
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Fund Structuring & Key Documents: Deep dive into Trust vs. LLP vs. Company structures, meticulous analysis of the Private Placement Memorandum (PPM) for VC/PE funds, term sheets, and shareholder agreements.
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Investment Process (VC/PE Lifecycle): Comprehensive coverage of deal sourcing, screening, due diligence (technical, financial, legal, commercial for unlisted assets), investment decision-making, post-investment monitoring & value creation, and various exit strategies (IPO, strategic sale, secondary sale).
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Valuation of Unlisted Securities: Mastering specific techniques like DCF for early-stage vs. growth-stage companies, comparable company analysis (finding relevant peers for unlisted entities), precedent transaction analysis, and understanding pre-money/post-money valuations.
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Taxation (Pass-Through Focus): Detailed explanation of the crucial "pass-through" tax status for Category I & II AIFs and its implications for calculating investor returns.
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Fund Operations & Governance: Roles of the Manager, Sponsor, Trustee, Custodian; governance structures, Investment Committee processes, and conflict of interest management specific to Cat I/II.
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Performance Measurement: Calculating and interpreting key PE/VC metrics like Internal Rate of Return (IRR), Distributions to Paid-in Capital (DPI), Residual Value to Paid-in Capital (RVPI), and Total Value to Paid-in Capital (TVPI).
Who Should Enrol in this Specialised Online NISM 19D Course?
This intensive program is designed for professionals specifically targeting careers or currently working within the Category I & II AIF ecosystem:
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Aspiring VC/PE Fund Managers & Investment Professionals.
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Analysts, Associates, Principals currently working in VC, PE, Infrastructure, or SME funds.
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Compliance, Operations, and Finance Professionals within Cat I/II AIF Managers or Fund Administrators.
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Wealth Managers & IFAs advising HNIs on investments in VC/PE funds.
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Legal & Finance Consultants specialising in the AIF industry (Cat I/II focus).
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MBA (Finance) Students aiming for specialised roles in early-stage or growth-stage investing.
Our Instructors: Your Mentors from the VC/PE World
Our faculty comprises industry professionals who are veterans of the Indian VC, PE, Infrastructure, and SME investment landscape. They bring practical, actionable insights from years of sourcing deals, conducting due diligence, structuring investments, managing portfolio companies, and achieving successful exits. They provide:
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Deep Specialised Expertise: Unmatched understanding of Cat I/II fund structures, strategies, and regulations.
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Actionable, Real-World Insights: Connecting syllabus concepts to the daily realities of fund management.
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Targeted Exam Guidance: Proven strategies to tackle the specific challenges and question types of the NISM XIX-D exam.
Take the Specialised Path to Your AIF Career Goal
The NISM Series XIX-D certification is your definitive credential for a specialised career in the engine room of India's growth story - Venture Capital, Private Equity, Infrastructure, and SME investing. It signals to the industry that you possess the deep, targeted knowledge required to excel in this demanding field.
Stop struggling with generic AIF material that doesn't focus on your specific needs. Join our Live Online NISM XIX-D Classes and get the expert guidance, structured learning, and practical skills you need to pass your exam confidently and accelerate your specialised career.
Invest in your niche expertise. Enroll in India's leading online NISM 19D classes today.
Ready to Master the NISM XIX-D Exam and Specialise in VC/PE?
Know our upcoming batch schedules and secure your spot in our expert-led, specialised program.
Experience Our Focused Quality Firsthand:
Take Your Free NISM XIX-D Demo Exam Now
Have More Questions About Our Online NISM AIFM Classes?
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Frequently Asked Questions – NISM Live Online Classes
NISM XIX-C covers all three categories of AIFs (I, II, III including Hedge Funds).
NISM XIX-D focuses only on **Category I & II AIFs** (VC, PE, Infra, SME, Debt, Real Estate).
This course is specifically designed for the **XIX‑D** exam.
The instructors are **senior industry professionals** with 15+ years of experience in **Venture Capital, Private Equity, Infrastructure, or SME Fund Management** in India.
The course is **100% targeted** to the XIX‑D syllabus — with case studies, valuation techniques and regulatory topics focused on **only Category I & II AIFs**.
Yes. The **pass-through taxation** applicable to Category I & II AIFs is explained deeply with real numerical examples and case-based applications.
Case studies involve **VC/PE deal evaluation, Term Sheets, Due Diligence, Fund Structuring, and Carried Interest Waterfall** — not generic finance.
A basic foundation in finance is recommended. Ideal for finance professionals, investment analysts, or serious MBA students.
You will have access to recordings and digital materials for **6 months**; plus handholding means unlimited re‑attendance if needed.
Yes. All questions and mocks are **updated for 2025** exam pattern & syllabus.
If you don’t pass, you can **re‑attend** upcoming live batches **free**, after showing exam attempt proof.
Yes. This course provides the **practical investment and fund‑operation understanding** needed to work effectively with AIF clients.
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