Company Description First Light Capital Advisors LLP manages the Azure First Light AIF – First Light Opportunities Fund, focused on unlocking value in SMEs, startups, and stressed assets across India. With decades of combined investment experience and a strong deal pipeline, the firm targets opportunities that accelerate SME growth, fuel innovation, and support the revival and restructuring of challenged businesses. Backed by supportive market fundamentals, policy reforms, and India’s entrepreneurial ecosystem, the team seeks superior risk-adjusted returns.

The firm is committed to creating economic impact by investing in potential, generating value, and contributing to India’s next chapter of growth.

Role Description The Associates – Investments AIF role is a full-time, on-site position based in Mumbai. The associate will support the end-to-end investment process, including deal origination and sourcing and transaction execution. Daily responsibilities include tracking sector trends, building and maintaining financial models, conducting company and industry research, and assisting in structuring transactions across SMEs, startups, and stressed assets, deal sourcing and tracking the pipeline.

The role involves monitoring portfolio performance, preparing periodic reports, and collaborating with senior team members on investment strategy and execution. The associate will also participate in meetings with promoters, management teams, and external advisors to support informed investment decisions.

- Deal-origination & Sourcing – Proactively source, screen, and build a robust pipeline of potential investment opportunities in the SME, early- stage start-ups and distressed / special situations landscape.




- Analysis & Transaction Execution– Analyse complex balance sheets, cash flows, and debt/equity capital structures to evaluate transaction feasibility beyond standard public-market metrics.
- Investment Memoranda – Prepare high-quality investment papers and presentations for internal discussion and Investment Committee consideration.
- Due Diligence & Structuring – Support comprehensive financial, commercial and operational due diligence on target companies; coordinate with external advisors where required.
- Portfolio Monitoring – Track performance of investee companies against investment thesis and agreed milestones; prepare periodic portfolio reviews and risk assessments.
- Market & Sector Intelligence – Maintain ongoing coverage of relevant sectors, macroeconomic developments and regulatory changes that impact the Fund’s strategy.
- Compliance & Documentation – Assist in preparation of investor reports, regulatory filings and maintain accurate investment records in line with SEBI AIF regulations.

Qualifications

- CA, CFA, or MBA (Finance) from a leading institution.
- 2–5 years of relevant experience in private equity, alternative investments, credit / special situations, or investment banking.
- Strong command over deal origination, analyzing financial statement, valuation methodologies and transaction execution
- Demonstrated ability to structure explicit, concise and well-reasoned written investment recommendations.
- Familiarity with the Indian SME ecosystem, stressed assets resolution framework (including IBC) or private credit is a distinct advantage.

High level of intellectual honesty, attention to detail and comfort operating in a small, high-performance team

📌 Associates - Investments AIF (Mumbai)
🏢 First Light Capital Advisors
📍 Mumbai