Investment Objective
The investment objective of the Fund will be to carry on the investment activity of a Category III AIF, as permissible under the Regulations, and achieve long-term capital appreciation by primarily investing in equity and equity linked instruments (including but not limited to compulsorily convertible preference shares and compulsorily convertible debentures) with small cap bias. The Fund is sector agnostic and shall have the flexibility to invest in unlisted securities (up to 30% of its Investable Funds). The Fund will primarily focus on investments in small cap companies (with up to 50% (Fifty Percent) or such other higher percentage of its Investable Funds as may be decided by the Investment Manager in accordance with Applicable Laws).
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Terms at a Glance
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RISK APPETITE - High Risk
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ELIGIBLE INVESTORS - Sophisticated and/or private investors including but not limited to Accredited Investors, fund of funds, government institutions, corporates, public sector undertakings, global development financial institutions, multilateral organizations, high net worth individuals, non-resident Indians (making non-repatriable investments through NRO account) and other permissible investors.
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MINIMUM INVESTMENT - INR 5 Crores
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INVESTMENT STYLE - Small cap oriented & may include private companies.
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SUGGESTED INVESTMENT HORIZON – 4 (four) years from the date of First Closing and extendable by up to 1 (One) year or such other period as permitted under Regulations with the prior consent of Two-Third Majority of Contributors.
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LAUNCH DATE - Sep 1, 2025
These are not the complete terms; please refer the Private Placement Memorandum and its amendments for complete details.
Kindly contact us for the Private Placement Memorandum and its amendments.
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.
Performance
Data as of April 30, 2026 | *Inception Date: September 01, 2025
#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 March 2025. Please click here refer to the Category III AIF benchmarking report issued by CRISIL.
