Alchemy Emerging Leaders of Tomorrow – AIF CAT-III

  • Investment Objective
  • Why Alchemy Emerging Leaders of Tomorrow?
  • Terms at a Glance
  • Fund Manager
  • Performance

Investment Objective

The investment objective of the Fund is to carry on the activities of a category III AIF as permissible under the AIF Regulations and generate long-term capital appreciation by investing in such opportunities including investing in, (i) listed Indian equities comprising of Largecap stocks and about 65% in Mid and Smallcap, and (ii) about 10% in IPO opportunities or any other instruments allowed under Applicable Laws. It is hereby clarified that the investment allocations provided above are indicative and may vary as determined by the Investment Manager in the best interests of the Contributors.

The Right Confluence of Factors:

  • Exciting investment opportunities across range of sectors
  • Right macro environment in India supportive of broad-based growth
  • Reasonable risk-reward
  • Our team with proven expertise in choosing winners
  • Stress-tested management teams who have executed well

Why invest in mid and smallcaps?

  • Attractive opportunities in sub-sectors with high growth and profitability potential
  • New sectors and opportunities from new listings/regulatory changes
  • Corporate action which can unlock value
  • Every cycle, new teams and leaders drive growth
  • Opportunities beyond domestic arena

 

Key management attributes we look for

Capabilities:

  • Feedback from customers, ex-employees and competitors
  • Ability to attract high quality talent and retain the same

Ethics/ Corporate Governance:

  • Based on the feedback from industry sources and expert networks

Hunger for Growth:

  • Focused on a differentiated strategy
  • Quality of relationships with clients
  • Entry into new markets or adjacent categories
  • Pipeline of products and services

Capital Allocation:

  • Acquisition strategy
  • Strategy behind investments into new markets, services or product lines
  • Maintain conservative leverage

Terms at a Glance

  • RISK APPETITE - High Risk
  • ELIGIBLE INVESTORS - Resident Indians, NRI ,HNI, Hindu Undivided Family (HUF), Banks, Bodies Corporate, Partnership Firm, Accredited Investors, & Trusts
  • INVESTMENT STYLE - Multi cap with more emphasis on Mid and Small Cap
  • MINIMUM INVESTMENT - Minimum Rs.1 crore
  • SUGGESTED TIME HORIZON - 3-5 years

Fund Manager – Hiren Ved

Hiren Ved, an equity market veteran, co-founded Alchemy Capital Management in 1999. He is the Director & CIO at Alchemy Capital Management, where he leads the firm’s Asset Management business. With his experience and expertise, Hiren has developed a sustainable long-term investment philosophy based on fundamental research that has helped deliver long-term returns for clients.

Hiren’s journey in the equity markets began in 1991 when he started working with KR Choksey & Co., a sell-side firm known for its value investment approach. Starting as an analyst, he gradually rose to become the Head of Research, building a strong foundation in bottom-up research. Witnessing various cycles of Indian markets, Hiren firmly believes in long-term investment strategy.

In 1994, Hiren joined Prime Securities, an Investment Bank, where he served as an investment analyst and subsequently became the Head of Equities, overseeing both listed and private equity investments within the investments of the internal treasury in both the listed and private equity space.

With over three decades of experience in the Indian equities market and public market investments, Hiren has a long track record of alpha generation over 20 years. He possesses deep and diverse knowledge across sectors and is known for his bottom-up research and stock-picking skills.

He holds a graduate degree in Accounting from Mumbai University and a post-graduation in Management & Cost Accounting from The Institute of Cost Accountants of India.           

Co-Fund Manager - Mythili Balakrishnan

Mythili has over 22 years of experience in finance and markets, primarily in equity research and fund management. Prior to joining Alchemy, she worked with New Mark Capital as a midcap analyst. Previously, she has also worked with Motilal Oswal AMC, Avendus PE, and JP Morgan in similar roles. Academically, Mythili holds a B.E. (Electronics and Communication) degree from Delhi College of Engineering and a diploma in management from IIM Ahmedabad. She is a CFA charterholder.

Performance

  1M 3M 6M 1Y 3Y Since Inception*
Fund Returns - Closed Ended Post Fees Expenses & Taxes -4.3% -6.8% -7.4% 5.3% 17.1% 14.0%
Fund Returns - Closed Ended Post Fees Expenses & Pre Taxes -4.7% -7.2% -7.7% 6.3% 20.4% 17.0%
BSE 500 -3.4% -2.8% 0.6% 6.5% 15.0% 13.6%

Data as of January 31, 2026 | *Inception Date: January 3, 2018

#Consolidated Returns are calculated using unitization method. The Consolidated Returns may vary with investors’ returns depending on the class/series investor have subscribed into. Past performance is not indicative of the future performance. Performance related information provided herein is not verified by SEBI. Returns less than 1 Year: Absolute, greater than 1 Year: CAGR. Performance Data for CRISIL AIF Index – Category III is available till September 2024. Please click here refer to the Category III AIF benchmarking report issued by CRISIL.