Capitalmind

What Capitalmind does

Capitalmind Financial Services Private Limited is a Bengaluru-headquartered, SEBI-registered wealth management firm that offers Portfolio Management Services (PMS), mutual funds, and a Category III Alternative Investment Fund (AIF) to high-net-worth individuals, families, business owners, and retail investors in India. The PMS franchise, in operation since 2019, manages ₹2,000 Cr across 1,500+ clients with a median ticket size of ₹108 L, served through a direct consultative sales model featuring strategies such as Capitalmind Surge India (India growth equity) and Capitalmind Mutual Fund Baskets (tax-efficient curated fund-of-funds).

In August 2025 the firm extended into the mutual fund business under a separate AMC, launching the Capitalmind Flexi Cap Fund (₹424 Cr AUM and 8,000+ investors by April 2026), followed by the Capitalmind Multi Asset Allocation Fund and Capitalmind Arbitrage Fund in February 2026. Total MF scheme AUM reached ₹459 Cr by January 2026, distributed through 3,000+ empaneled distributors. The firm also operates Capitalmind Select India One, a SEBI-registered Category III open-ended AIF. Its investment methodology is described as a quantitative, first-principles framework blending data-driven signals with qualitative research for downside risk control.

The business model is fee-based and recurring: percentage-based management fees on PMS AUM, Total Expense Ratio (TER) on MF AUM, and carry/management fees on the AIF. Distribution is dual-track — direct relationship management for HNW PMS clients and a distributor-led model for retail MF products, augmented by content marketing through the Capitalmind Podcast, founder-led social media, and Deepak Shenoy's book 'Money Wise'. The company received its first institutional capital in August 2025 — a ₹45 Cr Series-A from Zerodha's Rainmatter initiative — earmarked for separating the MF and PMS businesses and expanding retail fund offerings. Planned launches of large-cap and mid-cap funds within 12-18 months signal continued product-line expansion.

Name

Capitalmind

Legal name

Capitalmind Financial Services Private Limited

Website

https://pms.capitalmind.in

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Capitalmind Financial Services is a Bengaluru-based, SEBI-registered wealth management firm offering PMS, mutual funds, and AIFs to high-net-worth individuals and retail investors in India, managing ₹2,000 Cr in PMS and ₹459 Cr in mutual fund AUM.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI)

Keywords

• Portfolio management services
• Wealth management
• Mutual fund management
• Alternative investment fund
• Quantitative investment strategies

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Portfolio Management Services (PMS): Customized portfolio management services for high-net-worth individuals, families, and businesses with ₹2000 Cr AUM and 1500+ clients.
2. Mutual Fund Management: Capitalmind operates as a mutual fund asset management company offering multiple fund categories including flexi cap, multi-asset allocation, and arbitrage funds.
3. Alternative Investment Fund (AIF): Category III open-ended AIF offerings including Capitalmind Select India One.
4. Series-A Funding: Received Series-A funding from Zerodha's Rainmatter initiative after mutual fund debut.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Capitalmind is a SEBI-registered wealth management and asset management firm that offers Portfolio Management Services (PMS) for high-net-worth individuals and families, mutual fund products for retail investors, and Category III Alternative Investment Funds (AIF) for qualified investors. The firm applies data-driven, quantitative investment strategies blended with first-principles and qualitative research, distributing through direct sales for PMS and a 3,000+ empaneled distributor network for mutual funds, with a total PMS AUM of ₹2,000 Cr across 1,500+ clients.

Product overview

Capitalmind is a financial services firm operating across multiple product lines including Portfolio Management Services (PMS), Mutual Funds, and Alternative Investment Funds (AIF). The core PMS offering provides data-driven investment strategies including Capitalmind Surge India (growth-focused) and Capitalmind Mutual Fund Baskets (tax-efficient MF portfolios). The mutual fund arm offers equity and hybrid products including Capitalmind Flexi Cap Fund (flexible market cap allocation), Capitalmind Multi Asset Allocation Fund (dynamic multi-asset allocation with trend-following), and Capitalmind Arbitrage Fund (market-neutral arbitrage strategies). The company also manages Capitalmind Select India One, a Category III AIF. Beyond investment products, Capitalmind provides educational content through its podcast and book 'Money Wise'. The firm targets retail and high-net-worth investors seeking disciplined, data-driven wealth management.

Differentiator

Problem solved

Functional benefit

Brands

• Capitalmind Surge India: PMS strategy focusing on companies at the forefront of India's economic growth
• Capitalmind Mutual Fund Baskets
• Capitalmind Flexi Cap Fund
• Capitalmind Multi Asset Allocation Fund
• Capitalmind Arbitrage Fund
• Capitalmind Select India One

Products and services

• Capitalmind PMS (Portfolio Management Service) SEBI-registered Portfolio Management Service offering data-driven, customized portfolio strategies for individuals, families, and businesses to build long-term wealth through transparent, low-cost portfolio management. Manages ₹2,000 Cr AUM across 1,500+ clients with a median client AUM of ₹108 L.
• Capitalmind Surge India
• Capitalmind Mutual Fund Baskets A dynamically managed portfolio of top-performing mutual funds optimized for performance, designed to be tax-efficient and low-churn. The offering combines multiple mutual fund schemes into a curated basket aligned with Capitalmind's investment approach.
• Capitalmind Flexi Cap Fund Open-ended equity mutual fund investing across large-cap, mid-cap, and small-cap stocks with flexible allocation strategy to capitalize on market opportunities. Targets retail investors seeking long-term capital appreciation through a flexi cap approach. Capitalmind AMC's flagship mutual fund product.
• Capitalmind Multi Asset Allocation Fund Hybrid open-ended mutual fund offering dynamic allocation across equities, fixed income, and commodities, using a trend-following model for the commodities sleeve. Managed by Anoop Vijaykumar.
• Capitalmind Arbitrage Fund Actively managed mutual fund generating returns through arbitrage strategies across equity markets, designed to provide relatively stable returns with lower volatility.
• Capitalmind Select India One (Category III AIF) SEBI-registered Category III open-ended Alternative Investment Fund offering diversified investment opportunities for qualified investors seeking alternative strategies.

Quantifiable outcome

• Capitalmind Flexi Cap Fund outperformed benchmark with 3.98% annualized return vs Nifty 500 TRI's 2.57% and category average of 0.58%
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Others

• Zerodha (Rainmatter): India's largest retail brokerage and Capitalmind's strategic investor via Rainmatter. Comparable as a fintech-driven investment ecosystem player and as a distribution/technology partner shaping Capitalmind's retail MF distribution.

Emerging players

• smallcase: Thematic investing platform offering curated baskets of stocks/ETFs to Indian retail investors. Comparable as a tech-enabled, content-led investment product targeted at the same retail/HNW digital investor persona.
• Kuvera: Direct MF distribution platform with strong advisor-led content. Comparable as a tech-enabled MF distribution competitor to Capitalmind MF and a content-marketing parallel.
• INDmoney: Indian wealth management super-app aggregating MFs, stocks, and personalized advisory. Comparable as a digital-first wealth platform competing for the same retail/HNW investor wallet that Capitalmind targets with PMS and MF products.

Broad incumbents

• NJ Wealth (NJ India Invest): Large Indian MF distribution and wealth advisory network. Comparable as a distributor-driven MF/wealth competitor that overlaps with Capitalmind's 3,000+ empaneled distributor channel.
• Motilal Oswal Wealth Management: Established Indian PMS and wealth advisory firm serving HNW clients with multi-product offerings. Comparable as a competing PMS provider and benchmark for Capitalmind Wealth's HNH PMS business.
• IIFL Wealth Management: One of India's largest listed wealth managers, providing PMS, AIF, and family-office services. Comparable as an incumbent in the HNW PMS/AIF segment Capitalmind addresses, though at materially greater scale.
• Groww: Large Indian fintech offering MFs, stocks, and derivatives to retail investors. Comparable as a scale retail investment platform; competes for the same investor acquisition funnel though Capitalmind sits more in the discretionary PMS/AIF/MF curated end.
• Anand Rathi Wealth Management: Listed Indian wealth manager with a large HNW client base and PMS/AIF offerings. Comparable incumbent in the same HNW discretionary wealth management category.

Direct peers

• PPFAS Mutual Fund (Parag Parikh Financial Advisory Services): Indian AMC with a strong value/quant-anchored philosophy, early retail following, and a flagship flexi-cap fund. Closest direct comparable to Capitalmind MF given similar boutique positioning, retail-led growth, and differentiated investment approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@CapitalmindHQ/featured
• Xx.com/capitalmind_in
• Facebookfacebook.com/capitalmind.in

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about Capitalmind