Nepean Capital
Nepean Capital LLP is a Mumbai-based, SEBI-registered Alternative Investment Fund manager founded in 2017. The firm manages Category II and Category III AIF funds investing in Indian public equities and private technology ventures, serving high-net-worth individuals and institutional investors.
- Company typePrivate
- Founded2017
- HeadquartersMumbai, India
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Nepean Capital does
Nepean Capital LLP is a Mumbai-based, SEBI-registered Alternative Investment Fund (AIF) manager founded in 2017 by co-founders and Managing Partners Gautam Trivedi and Anand Trivedi. The firm manages Category II and Category III AIF vehicles that invest in Indian public and private markets, with a stated focus on long-only equity strategies and selective private equity investments in India's technology sector. The firm is structured as a privately-held LLP (CIN: AAH-5756) with a lean team of approximately 14 staff (2 co-founders, 3 investment analysts, 2 finance managers, 1 assistant finance manager, 1 office administration staff) supported by 5 named advisors.
The firm operates a focused product set: a Category II AIF private equity fund targeting next-generation tech ventures; a Category III AIF Multi-Cap Sector Agnostic Long-Only Fund that has reportedly outperformed the NIFTY500 benchmark; the Nepean Long Term Opportunities Fund II (a Category III AIF referenced in ongoing quarterly investor communications); and an inaugural Small and Mid-Cap fund (Category III AIF) that delivered a 96.4% gross return (28.4% annualized) before capital was returned to investors 28 months ahead of schedule. The investment portfolio spans 28+ companies across housing finance, manufacturing, healthcare, telecom, technology, hospitality, banking, and entertainment. A 50% stake in Maddock Films was acquired in January 2026, marking the firm's entry into entertainment.
Revenue is generated through two streams: recurring management fees on assets under management across its SEBI-registered AIF vehicles, and performance-based carried interest tied to fund returns. The firm distributes directly to qualified investors — high-net-worth individuals and institutional investors — through a single direct-sales channel that leverages the founders' personal and professional networks cultivated over 50+ years of combined experience at Goldman Sachs, GE Capital, Merrill Lynch, ABN AMRO Rothschild, and Reliance Industries. Distribution is supported by a multi-channel marketing apparatus including LinkedIn, YouTube podcasts featuring Indian industry leaders, CNBC-TV18 media appearances, published research, and quarterly investor newsletters. No AUM, fee schedule, or revenue figures are publicly disclosed.
Nepean Capital firmographics
Firmographics- Name
- Nepean Capital
- Legal name
- Nepean Capital LLP
- Website
- https://nepeancapital.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Nepean Capital LLP is a Mumbai-based, SEBI-registered Alternative Investment Fund manager founded in 2017. The firm manages Category II and Category III AIF funds investing in Indian public equities and private technology ventures, serving high-net-worth individuals and institutional investors.
- Ownership category
- akta.pro rank
Nepean Capital industry classification
Industry- Product category
- Alternative Investment Fund Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Small-Cap Equity (Active) (FSAAAIAC)
- akta.pro secondary industries
- International/Ex-U.S. Developed Equity (Active) (FSAAAIAE), Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)
Keywords
Where Nepean Capital is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Nepean Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund Management Fees: Nepean Capital generates revenue through management fees charged on assets under management for their Category II and Category III AIF funds. The funds are structured as SEBI-registered Alternative Investment Funds.
- Performance Carry: The firm generates performance-based returns through carried interest on fund investments, as evidenced by their inaugural Small and Mid-Cap focused equity fund delivering 96.4% gross return (28.4% annualized) before funds were returned to investors.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Nepean Capital product offering
Product offeringCore offering
Nepean Capital is a SEBI-registered Alternative Investment Fund (AIF) manager that runs Category II and Category III AIF funds investing in Indian public and private markets. Its offerings include a Category II AIF private equity fund targeting India's tech ventures, a Small and Mid-Cap focused Category III AIF, and a Multi-Cap sector-agnostic long-only fund. The firm provides active portfolio oversight, board representation, and a rigorous stock selection process that identifies triggers such as corporate restructuring, M&A, deleveraging, and leadership/ownership changes.
Product overview
Nepean Capital is an investment management firm offering Alternative Investment Funds (AIF) structured as Category II and Category III funds registered with SEBI. The core products consist of a Category II AIF private equity fund targeting India's tech ventures, a Category III AIF Small and Mid-Cap Fund that delivered 96.4% gross returns, and a Multi-Cap Sector Agnostic Long-Only Fund that outperforms the NIFTY500 benchmark. The firm also manages a portfolio of 28 investee companies across sectors including financial services, manufacturing, healthcare, technology, and hospitality. Investor communication includes quarterly newsletters and research publications.
Differentiator
Problem solved
Functional benefit
Products and services
- Category II AIF Private Equity Fund Private equity fund structured as a Category II AIF that invests in the next generation of ventures catalyzing India's ascendant tech industry; Nepean takes an active role through board representation to shape strategic direction.
Quantifiable outcome
- 96.4% gross return (28.4% annualized) delivered by inaugural Small and Mid-Cap fund, returned to investors 28 months ahead of schedule
Companies that use Nepean Capital
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles2 records
Nepean Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Nepean Capital partnerships and signals
Strategic signalScale indicators4 records
Recent moves5 records
Expansion highlights5 records
Nepean Capital competitors and assessment
Company assessmentDirect peers
- Motilal Oswal Asset Management: Indian asset manager offering Portfolio Management Services (PMS), AIFs, and mutual funds with active equity strategies. Comparable to Nepean Capital in operating listed-equity mandates targeting HNW and institutional investors in India.
- ASK Investment Managers: Indian wealth and portfolio management firm running PMS and AIF products across equities and multi-asset strategies. Directly comparable to Nepean Capital in boutique India AIF/PMS distribution to HNW clients.
- ChrysCapital: India-focused private equity firm investing across listed and private Indian companies, often taking active board roles. Closely mirrors Nepean's Category II AIF private equity approach and active ownership style.
- Ascent Capital: Indian private equity and AIF manager investing in mid-market Indian companies. Comparable to Nepean Capital's Category II AIF approach, with focus on active engagement and growth-stage Indian businesses.
- Sundaram Alternates: Indian alternative asset manager offering AIF Category II and III funds across equities and structured strategies. Direct competitor in the Indian AIF Category III listed-equity space where Nepean operates.
Broad incumbents
- ICICI Venture: One of India's largest PE/VC firms with multiple funds across stages. Comparable to Nepean's PE activity but operates at substantially larger scale with broader institutional LP base.
- Kotak Mahindra (Private Equity / Alternate Asset Management): Diversified Indian financial services group with PE and alternate asset management arms. Larger incumbent offering competing AIF and PE products to the same HNW and institutional base as Nepean.
- Franklin Templeton India: Large global asset manager with significant India presence across mutual funds and PMS products. Competes for India equity allocation but offers far broader product breadth than Nepean.
- IIFL Wealth & Asset Management: Indian wealth manager distributing AIF and PMS products to HNW clients across equities and alternatives. Comparable HNW distribution model but operates at much larger scale than Nepean.
Regional players
- Premji Invest: India-focused private investment vehicle backed by the Premji family, investing across listed and unlisted Indian equities. Compares to Nepean as an India-focused active manager, though typically with larger balance-sheet capital and longer horizons.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Nepean Capital social profiles
Digital presenceNepean Capital compliance and trust
Trust signalCompliance2 records
Nepean Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nepean Capital leadership team
Management profileNumber of profiles
Profiles13 records
Nepean Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nepean Capital M&A and investment
M&A and investmentM&A1 record
Investments19 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nepean Capital
What does Nepean Capital do?
Nepean Capital is a SEBI-registered Alternative Investment Fund (AIF) manager that runs Category II and Category III AIF funds investing in Indian public and private markets. Its offerings include a Category II AIF private equity fund targeting India's tech ventures, a Small and Mid-Cap focused Category III AIF, and a Multi-Cap sector-agnostic long-only fund. The firm provides active portfolio oversight, board representation, and a rigorous stock selection process that identifies triggers such as corporate restructuring, M&A, deleveraging, and leadership/ownership changes.
Is Nepean Capital a public or private company?
Nepean Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Nepean Capital founded?
Nepean Capital was founded in 2017. It employs 1 to 10 people.
Where is Nepean Capital based?
Nepean Capital is headquartered in Mumbai, India, in the Asia region.
How does Nepean Capital make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are performance Carry.
Who are Nepean Capital's main competitors?
Direct peers on record are Motilal Oswal Asset Management, ASK Investment Managers, ChrysCapital, Ascent Capital and Sundaram Alternates. Broad incumbents are ICICI Venture, Kotak Mahindra (Private Equity / Alternate Asset Management), Franklin Templeton India and IIFL Wealth & Asset Management. Premji Invest is listed as a regional player.
Does Nepean Capital have an API?
No public API is recorded for Nepean Capital.
What industry is Nepean Capital in?
Nepean Capital's product category is Alternative Investment Fund Management. Its primary akta.pro industry code is FSAAAIAC, Small-Cap Equity (Active), with a secondary code of FSAAAIAE, International/Ex-U.S. Developed Equity (Active). Its NAICS code is 523940 and its SIC code is 6282.