What Kora does

Kora Management LP is a private alternative asset manager founded by Nitin Saigal (Founding Partner and CIO) and Daniel Jacobs (Founding Partner and Co-CIO), with operational roots traceable to 2010 and the firm formally operating since 2013. The firm raises capital from institutional and sophisticated investors and structures investments through closed-end funds, co-investment programs, and separate accounts, deploying capital with a concentrated, high-conviction approach into two clusters: Emerging Internet (marketplace businesses, digital payments, e-commerce, online listings, gaming, and social networks) and Niche Financials (asset management, wealth management, insurance, microfinance, and specialty finance). Revenue is generated through recurring management fees on assets under management plus performance-based fees tied to investment outcomes.

The firm's core differentiator is its proprietary on-the-ground primary research infrastructure, comprising 20+ professionals across six global cities (Brooklyn/NY headquarters, São Paulo, Mumbai, Shanghai, Singapore, and Dubai), who independently design, execute, and analyze investment research rather than relying on third-party diligence. The platform invests in franchise businesses with sustainable competitive advantages, strong free cash flow generation, and attractive returns on incremental invested capital, targeting exceptional management teams building for the long term in emerging digital economies. Documented investments include participation in Zomato's $660 million primary financing in 2020 ahead of its 2021 listing as India's first new-age unicorn, leadership of Plata's $250 million Series B in October 2025, and participation in Plata's $405 million Series C in April 2026 at a $5 billion valuation.

Kora's go-to-market is sales-led and relationship-driven, with limited public marketing; investor engagement occurs through direct inquiries, a subscriber function for occasional updates, and a private investor library. The firm operates with a partnership mentality, seeking alignment of incentives with both LPs and portfolio company management teams, and maintains governance under New York law as a limited partnership.

Name

Kora

Legal name

Kora Management LP

Website

https://koracap.com/

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Kora Management LP is a private alternative asset manager that raises capital from institutional and sophisticated investors to invest with a concentrated, high-conviction approach in Emerging Internet and Niche Financials businesses, conducting proprietary primary research through 20+ professionals across six global cities.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

Keywords

• Alternative asset management
• Emerging market investing
• Private equity funds
• Institutional investment management
• Venture capital investing

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Management Fees: Recurring management fees earned on assets under management from institutional and sophisticated investors
2. Performance Fees: Performance-based income tied to investment outcomes

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Kora Management LP is a private alternative asset manager that raises capital from institutional and sophisticated investors to deploy into private and public market strategies in emerging digital economies. The firm concentrates capital across two core investment strategies — Emerging Internet (marketplaces, digital payments, e-commerce, gaming, social networks) and Niche Financials (asset management, wealth management, insurance, microfinance, specialty finance) — structured through closed-end funds, co-investment programs, and separate accounts.

Product overview

Kora is an alternative asset management firm that operates as a unified investment platform with two core investment strategies: Emerging Internet (focusing on marketplace businesses, digital payments, e-commerce, online listings, gaming, and social networks) and Niche Financials (covering asset management, wealth management, insurance, microfinance, and specialty finance). The firm differentiates through its proprietary primary research infrastructure, deploying 20+ professionals across five global cities to conduct independent due diligence and generate insights in emerging digital economies. Founded by Nitin Saigal (CIO) and Daniel Jacobs (Co-CIO), the firm structures investments through closed-end funds, co-investment programs, and separate accounts for institutional investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Emerging Internet Investment Strategy Investment strategy focused on marketplace model businesses, digital payments, e-commerce, online listings, online gaming, and social networks in emerging markets. Targets companies with strong unit economics, customer captivity, and pricing power. Available to institutional and sophisticated investors through closed-end funds, co-investment programs, and separate accounts.
• Niche Financials Investment Strategy Investment strategy focused on specialized financial services businesses including asset management, wealth management, insurance, microfinance, and specialty finance. Targets companies with proven asset generation advantages and stable liability franchises. Available to institutional and sophisticated investors through closed-end funds, co-investment programs, and separate accounts.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Tiger Global Management: Larger alternative asset manager with significant emerging market internet and fintech exposure. Co-invested alongside Kora in Zomato and Plata, demonstrating directly comparable deal flow and investment thesis in EM digital economies.
• D1 Capital Partners: Growth-oriented investment firm with global internet and fintech exposure. Co-invested alongside Kora in Zomato, representing a comparable cross-stage EM opportunity set.
• General Atlantic: Global growth equity investor with deep emerging markets exposure across consumer, internet, and financial services. Comparable in deploying concentrated capital into high-growth EM franchises.
• Coatue Management: Technology-focused investment manager with growing EM exposure. Operates a similar concentrated, research-driven approach to internet and fintech investing across global markets.
• Prosus NV: Global internet investment holding company with major emerging market consumer internet and fintech portfolio. Closely aligned thesis of backing dominant digital franchises in EM growth markets.
• Naspers: Global internet and media group with deep emerging market exposure, particularly in classifieds, payments, and food delivery. Comparable EM internet investment thesis and concentrated portfolio approach.

Direct peers

• Sequoia Capital India (Peak XV): Leading venture and growth investor in India and Southeast Asia. Directly comparable EM-focused strategy, co-investor in Zomato, and operates with a similar primary-research-driven investment approach in emerging digital economies.
• Hillhouse Capital Group: Asia-focused investment firm with consumer, internet, and business services expertise. Comparable EM thesis and on-the-ground research infrastructure, with broader AUM scale.
• Bicycle Capital: Latin America-focused growth equity firm led the Plata Series C at $5B alongside Kora. Directly comparable in EM internet/fintech thesis with regional depth in Latin America.
• Monashees: Brazilian-born VC with Latin America focus, comparable in regional EM research infrastructure and internet/fintech thesis. Smaller scale but directly comparable operating geography and stage focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kora