Cladosporium sp., Mycelia sterilia and Acremonium sp (GSEF-09) were found to possess relatively higher antibacterial activity while Cladosporium sp., Mycelia sterilia and Curvularia sp. (GSEF-15) were found to possess antifungal activities. Mycelia sterilia and Aspergillus sp. were found to possess relatively higher antioxidant activity and three strains GSEF-01, GSEF-09, and GSEF-11 were found to secrete pigments under solid state and submerged conditions.