Alchemy Capital Management
Alchemy Capital Management is a SEBI-registered Portfolio Manager and Category III AIF Investment Manager based in Mumbai, serving HNIs, family offices, and institutional investors across India with USD 1.2 billion in group AUM as of mid-2026.
- Company typePrivate
- Founded2002
- HeadquartersMumbai, India
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Alchemy Capital Management does
Alchemy Capital Management Private Limited is a SEBI-registered Portfolio Manager (Registration No. INP000000365) and Investment Manager to Category III Alternative Investment Funds (Registration No. IN/AIF3/17-18/0381), headquartered in Mumbai, India. Founded in 1999 by Hiren Ved and operational since 2002, the firm serves high-net-worth individuals, family offices, and institutional investors, reporting USD 1.2 billion in group assets under management and 3,339 clients worldwide as of mid-2026. The firm operates through two product structures: Portfolio Management Services (PMS) across active, quant, and active+quant strategies, and Alternative Investment Funds (AIFs) — primarily Category III — including Emerging Leaders of Tomorrow, Leaders of Tomorrow, Long Term Ventures, and Smart Alpha 250 series.
The firm's investment approach is grounded in a GARP (Growth at a Reasonable Price) philosophy with bottom-up fundamental research, supported by the proprietary eQGP (Environment-Quality-Growth-Price) framework used in quant-hybrid strategies. Product architecture spans PMS strategies (Select Stock, High Growth, W.I.N., Ascent, Alpha 100, Alpha Smallcap, Smart Alpha 250, Smart Alpha Micro & Smallcap) and AIF structures (closed-ended and open-ended funds across large, mid, small, and micro-cap segments, with select private/unlisted exposure up to 35%). The firm runs a proprietary client portal (WealthSpectrum) and mobile applications for investor servicing, alongside a multi-channel distribution model combining direct relationship management, empanelled distributors, and channel partners, and was the first fund house to migrate operations from Mauritius to GIFT City in Gujarat.
Revenue is generated through three fee formats — fixed management fees, hybrid (fixed + performance-linked), and variable performance-only fees — charged on AUM, with a High Water Mark principle applied to performance fees. PMS minimum investment is INR 50 lakhs and AIF minimum is INR 1 crore. The firm was registered with SEBI in 2000, launched its first PMS in 2002, expanded internationally via Singapore in 2007, secured a US SEC Investment Advisor license in 2015, launched its first Category III AIF in 2017, and received IFSCA approval for GIFT City operations in 2022.
Alchemy Capital Management firmographics
Firmographics- Name
- Alchemy Capital Management
- Legal name
- Alchemy Capital Management Private Limited
- Website
- https://alchemycapital.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Alchemy Capital Management is a SEBI-registered Portfolio Manager and Category III AIF Investment Manager based in Mumbai, serving HNIs, family offices, and institutional investors across India with USD 1.2 billion in group AUM as of mid-2026.
- Ownership category
- akta.pro rank
Alchemy Capital Management industry classification
Industry- Product category
- Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)
- akta.pro secondary industry
- Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)
Keywords
Where Alchemy Capital Management is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Alchemy Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Portfolio Management Services (PMS) - Management Fees: PMS services charged through management fees. The firm offers three fee formats: Fixed Fee Option (only fixed rate management fee), Hybrid Fee (fixed management fee plus performance-linked fee), and Variable Fee (only performance-linked fee).
- Performance Fees: Performance-linked fees subject to High Water Mark principle, ensuring portfolio managers only earn fees on gains exceeding the previous highest portfolio value.
- Alternative Investment Fund (AIF) Management: Category III AIF management including Emerging Leaders of Tomorrow, Leaders of Tomorrow, and Long Term Ventures Fund series, with minimum investment of INR 1 crore.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Annual | PMS - Standard Investment Tier |
| Hybrid | Multi-year contract | AIF - Alternative Investment Fund Tier |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Alchemy Capital Management product offering
Product offeringCore offering
Alchemy Capital Management is a SEBI-registered Portfolio Manager and Investment Manager for Category III AIFs that provides discretionary Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs) to high-net-worth individuals, family offices, and institutional investors. The firm offers multiple strategies across Active, Quant, and Active + Quant management styles covering large-cap, mid-cap, small-cap, and micro-cap Indian equities, guided by a GARP (Growth at a Reasonable Price) philosophy and the proprietary eQGP (Environment, Quality, Growth, Price) quantitative framework. Revenue is generated through management fees and performance-linked fees subject to the High Water Mark principle.
Product overview
Alchemy Capital Management is a SEBI-registered Portfolio Manager (Registration INP000000365) and Investment Manager to Category III AIFs (Registration IN/AIF3/17-18/0381) serving high-net-worth individuals, family offices, and institutional investors. The firm operates two product structures: Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs), unified by a GARP (Growth at a Reasonable Price) investment philosophy. PMS offerings span three management styles: Active (Alchemy Select Stock, Alchemy High Growth, Alchemy W.I.N. Strategy), Quant (Alchemy Ascent, Alchemy Alpha 100, Alchemy Alpha Smallcap), and Active + Quant (Alchemy Smart Alpha 250, Alchemy Smart Alpha Micro & Smallcap). AIF offerings include open-ended and closed-ended Category III funds: Alchemy Emerging Leaders of Tomorrow (Series 1 and 2), Alchemy Leaders of Tomorrow (open-ended and Closed Ended Fund Series 3), Alchemy Long Term Ventures Fund (Series 1, 2, and 3), and Alchemy Smart Alpha 250 Fund. The product suite covers all market capitalisations (large, mid, small, micro) with strategies ranging from high-concentration active to systematic quantitative approaches, including the proprietary eQGP (Environment–Quality–Growth–Price) framework used across Smart Alpha products.
Differentiator
Problem solved
Functional benefit
Products and services
- Alchemy Select Stock A concentrated bespoke portfolio with over 17 years of track record, focused on high-growth businesses, built through deep research and high-conviction investing. Targeted at high-net-worth individuals and family offices seeking concentrated active PMS exposure.
- Alchemy High Growth A growth-oriented flexicap strategy with over 24 years of track record, focused on scalable businesses and reasonable valuations. Targeted at investors seeking long-term compounded growth through active flexicap investing.
- Alchemy W.I.N. Strategy A focused flexicap strategy seeking high-growth opportunities through a benchmark-agnostic approach. Targeted at investors seeking active flexicap exposure without benchmark constraints.
- Alchemy Ascent A bespoke quant, model-driven strategy focused on data-backed investing and dynamic capital allocation. Targeted at investors seeking systematic model-driven portfolio management.
- Alchemy Alpha 100 A quantitative large-cap strategy built on disciplined stock selection and structured portfolio construction. Targeted at investors seeking systematic large-cap exposure.
- Alchemy Alpha Smallcap A rule-based small-cap strategy focused on disciplined investing with the objective of generating alpha. Targeted at investors seeking systematic small-cap exposure.
- Alchemy Smart Alpha 250 (PMS) A predominantly large and mid-cap PMS strategy applying the eQGP framework (Environment, Quality, Growth, Price)—combining quantitative rigour with active judgment to generate long-term risk-adjusted returns. Targeted at investors seeking a hybrid quant-active large and mid-cap exposure.
- Alchemy Smart Alpha Micro & Smallcap (PMS) A blended quant and active strategy identifying emerging small and microcap businesses by combining data-driven screening with active research. Targeted at investors seeking systematic exposure to emerging small and microcap businesses.
- Alchemy Emerging Leaders of Tomorrow A growth-oriented AIF Category III strategy focused on identifying promising entrepreneurs and scalable small-cap businesses, with a minimum 65% allocation to small and mid-cap companies. Targeted at investors seeking AIF exposure to emerging small and mid-cap businesses.
- Alchemy Emerging Leaders of Tomorrow, Series 2 A mid and small-cap focused AIF targeting ethical entrepreneurs and scalable mid and small-cap businesses. Targeted at AIF-eligible investors seeking multi-cap emerging business exposure.
- Alchemy Leaders of Tomorrow (Open-Ended AIF) An open-ended multi-cap growth AIF investing in businesses adapting to tomorrow's economic landscape—companies demonstrating digital adaptability, strong governance, and defensible competitive moats. Targeted at AIF-eligible investors seeking open-ended multi-cap growth exposure.
- Alchemy Leaders of Tomorrow - Closed Ended Fund, Series 3 A multi-cap, sector-agnostic closed-ended AIF seeking long-term capital appreciation through listed equities, PIPEs, and IPOs. Identifies businesses equipped to adapt to changing economic environments. 7-year tenure, benchmark BSE 500. Targeted at AIF-eligible investors seeking multi-cap capital appreciation with locked-in structure.
- Alchemy Long Term Ventures Fund A small-cap and private companies AIF investing in listed small-cap, micro-cap equities and unlisted/pre-IPO opportunities. Sector-agnostic, with up to 30% in private/unlisted companies. 7-year tenure, minimum investment INR 10 crores. Targeted at AIF-eligible investors seeking exposure to listed and unlisted small-cap opportunities.
- Alchemy Long Term Ventures Fund, Series 2 A small-cap and private companies AIF focused on listed and unlisted equity, with sector-agnostic allocation and up to 30% in private opportunities. 4-5 year tenure, minimum investment INR 5 crores. Targeted at AIF-eligible investors seeking listed and unlisted small-cap exposure with shorter tenure.
- Alchemy Long Term Ventures Fund, Series 3 A small-cap and private companies AIF targeting long-term capital appreciation through listed and unlisted equity opportunities. Closed-ended with 4-year tenure, up to 35% in private/unlisted companies. Minimum investment INR 1 crore. Targeted at AIF-eligible investors seeking a closed-ended structure with higher private allocation.
- Alchemy Smart Alpha 250 Fund (AIF) An open-ended Category III AIF applying the proprietary eQGP framework to listed large and mid-cap equities. Offers AIF investors access to the same quantitative large and mid-cap approach as the Smart Alpha 250 PMS strategy within a fund structure. Minimum investment INR 1 crore. Targeted at AIF-eligible investors seeking systematic large and mid-cap quant exposure.
Quantifiable outcome
- Alchemy India Long Term Fund delivered 11% net dollar returns compounded since inception over 17 years, versus 6.6% for BSE 500 in dollar terms
- +2 more outcomes
Companies that use Alchemy Capital Management
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Alchemy Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature2 records
Alchemy Capital Management partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- 360 ONE Assetminor360 ONE Asset (formerly IIFL Wealth) serves as a distribution partner for the Alchemy Long Term Ventures Fund, Series 3 launch. Aakash Desai, CIO & Head of Private Credit at 360 ONE Asset, announced the fund launch.
- GIFT City (Gujarat International Finance Tec-City)coreAlchemy Capital became the first fund house to migrate from Mauritius to GIFT City in Gujarat, India. The Alchemy India Long Term Fund is housed at GIFT City. The firm plans to expand its GIFT City presence with a long-short fund and hybrid strategy.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
Alchemy Capital Management competitors and assessment
Company assessmentDirect peers
- Marcellus Investment Managers: India-based SEBI-registered Portfolio Manager focused on HNI/family office PMS with a 'Compounders' long-only equity approach. Highly comparable to Alchemy's active PMS franchise in target segment, fee structures, and SEBI registration footprint.
- 360 ONE (formerly IIFL Wealth): Large Indian wealth and asset management platform already partnered with Alchemy for distribution of Long Term Ventures Fund. Competes directly for HNI/family-office wallet share and offers its own PMS and AIF products alongside distribution.
- Valentis Advisors: Founder-led Indian SEBI-registered Portfolio Manager running concentrated long-only PMS strategies. Closely comparable to Alchemy Select Stock in client segment and active concentrated high-conviction approach.
- NJ India Invest (NJ Asset Management): Indian wealth manager and SEBI-registered Portfolio Manager with HNI-focused PMS and equity strategies targeting similar client segment to Alchemy with direct overlap in fund categories.
- ASK Investment Managers: Boutique Indian wealth and portfolio management firm offering PMS and AIFs to HNIs and family offices across equity and fixed income. Directly comparable to Alchemy in product structure, target market, and SEBI registrations.
Broad incumbents
- Kotak Mahindra Asset Management: One of India's largest AMCs with mutual funds, PMS, and offshore portfolios. Competes with Alchemy on large- and mid-cap active equity mandates and corporate client portfolios.
- Aditya Birla Sun Life AMC: Large Indian AMC with PMS, AIF, and mutual fund offerings. Competes for HNI equity mandates with broad product portfolio vs Alchemy's narrower equity-focused lineup.
- ICICI Prudential Asset Management: One of India's largest AMCs offering PMS, AIFs, and mutual funds across asset classes. Comparable incumbent scale competing for HNI and institutional equity mandates.
- Motilal Oswal Asset Management: Indian asset manager (mutual funds, PMS, AIFs) with substantial AUM and broad equity offerings. Source of Deputy CIO Alok Agarwal's prior experience; competes for HNI PMS mandate share with Alchemy across active equity strategies.
Emerging players
- PPFAS Mutual Fund: Direct-equity-focused Indian mutual fund AMC renowned for a concentrated 'value' philosophy. Comparable to Alchemy in concentrated long-term equity orientation and HNI/retail investor mindshare, though structured as a daily-liquid MF rather than PMS/AIF.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Alchemy Capital Management social profiles
Digital presenceAlchemy Capital Management compliance and trust
Trust signalCompliance4 records
Alchemy Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alchemy Capital Management leadership team
Management profileNumber of profiles
Profiles12 records
Alchemy Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alchemy Capital Management M&A and investment
M&A and investmentM&A
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alchemy Capital Management
What does Alchemy Capital Management do?
Alchemy Capital Management is a SEBI-registered Portfolio Manager and Investment Manager for Category III AIFs that provides discretionary Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs) to high-net-worth individuals, family offices, and institutional investors. The firm offers multiple strategies across Active, Quant, and Active + Quant management styles covering large-cap, mid-cap, small-cap, and micro-cap Indian equities, guided by a GARP (Growth at a Reasonable Price) philosophy and the proprietary eQGP (Environment, Quality, Growth, Price) quantitative framework. Revenue is generated through management fees and performance-linked fees subject to the High Water Mark principle.
Is Alchemy Capital Management a public or private company?
Alchemy Capital Management is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Alchemy Capital Management founded?
Alchemy Capital Management was founded in 2002. It employs 51 to 100 people.
Where is Alchemy Capital Management based?
Alchemy Capital Management is headquartered in Mumbai, India, in the Asia region.
How does Alchemy Capital Management make money?
Three revenue lines are on record. Portfolio Management Services (PMS) - Management Fees are the primary driver. The others are performance Fees and alternative Investment Fund (AIF) Management.
Who are Alchemy Capital Management's main competitors?
Direct peers on record are Marcellus Investment Managers, 360 ONE (formerly IIFL Wealth), Valentis Advisors, NJ India Invest (NJ Asset Management) and ASK Investment Managers. Broad incumbents are Kotak Mahindra Asset Management, Aditya Birla Sun Life AMC, ICICI Prudential Asset Management and Motilal Oswal Asset Management. PPFAS Mutual Fund is listed as an emerging player.
Does Alchemy Capital Management have an API?
No public API is recorded for Alchemy Capital Management.
What industry is Alchemy Capital Management in?
Alchemy Capital Management's product category is Asset Management. Its primary akta.pro industry code is FSABADAD, Private Banking Advisory & Discretionary Portfolio Management, with a secondary code of FSAAABAD, Advisory Portfolio Management (Non-Discretionary). Its NAICS code is 523940 and its SIC code is 6282.