Buoyant Capital

What Buoyant Capital does

Buoyant Capital Private Limited is a SEBI-registered alternatives asset manager founded in 2016 and headquartered in Mumbai, India. The firm operates across three SEBI license categories: Portfolio Manager (INP000005000), Category III Alternative Investment Fund (IN/AIF3/22-23/1125), and Investment Adviser (INA000016995). It is co-founded and run as a three-portfolio-manager boutique by Jigar Mistry (former Director of Research at HSBC), Sachin Khivasara (former research head at Nippon Asset Management), and Viral Berawala (former CIO at Nippon Life Insurance managing over USD 3 billion), each with 23-26 years of equity research experience covering distinct sectors.

The firm's product surface consists of discretionary, non-discretionary, and advisory Portfolio Management Services (Buoyant Opportunities PMS, Buoyant Opportunities ND-PMS, Buoyant All-Weather PMS, Buoyant Liquid PMS) with a INR 5 million minimum, plus four Category III AIF schemes — BOS (Nov 2022), BOS-II (Mar 2025), BOS-III (Feb 2026), and BOS-LVF (May 2026) — each with a INR 10 million minimum. The core technology is an investment management platform with Bloomberg integration for performance benchmarking; the proprietary element is a cycle-aware Core/Satellite allocation framework with dynamic defensive-aggressive positioning. Products are open-ended with no entry loads, exit loads, or lock-ins, and the firm co-invests alongside clients.

Buoyant Capital generates revenue through recurring management fees on AUM across PMS and AIF products, distributed via direct sales (no intermediation per SEBI direct onboarding guidelines) to a domestic HNI and institutional client base, with the United States explicitly excluded from its operating geographies. Go-to-market is consultative and thought-leadership driven, anchored by regular investment memos, quarterly webinars, and frequent media appearances on CNBC TV18, ET Now, Bloomberg Quint, and CNN News18. Revenue figures are not publicly disclosed.

Name

Buoyant Capital

Legal name

Buoyant Capital Private Limited

Website

https://buoyantcap.com

Company type

Private

Founded year

2016

Operating status

Operating

Short description

Buoyant Capital is a SEBI-registered Mumbai-based alternatives asset manager offering customized PMS and Category III AIF products to high-net-worth individuals and institutions in India, using a cycle-aware flexi-cap strategy with no lock-ins or loads.

Ownership category

akta.pro rank

Product category

Portfolio Management Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)

Keywords

• Portfolio management services
• Alternative investment fund
• Wealth management
• Cycle-aware investing
• HNI asset management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Portfolio Management Services (PMS) Fees: Management fees charged on assets under management for discretionary, non-discretionary and advisory PMS services including Buoyant Opportunities PMS, Buoyant Opportunities ND-PMS, Buoyant All-Weather PMS, and Buoyant Liquid PMS.
2. Alternative Investment Fund (AIF) Management: Category III AIF management fees for schemes including BOS (November 2022), BOS-II (March 2025), BOS-III (February 2026), and BOS-LVF (May 2026). Open-ended fund with no exit loads or lock-in.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Buoyant Capital is a SEBI-registered alternatives asset manager that delivers discretionary, non-discretionary, and advisory Portfolio Management Services (PMS) along with Category III Alternative Investment Fund (AIF) schemes to high-net-worth individuals and institutional clients in India. The firm manages customized, flexi-cap, sector-agnostic equity portfolios using a cycle-aware investment framework with dynamic Core and Satellite allocation, charging asset-based management fees with no entry/exit loads or lock-ins.

Differentiator

Problem solved

Functional benefit

Brands

• Buoyant Opportunities PMS: The flagship open-ended equity Portfolio Management Service scheme offering flexi-cap, sector-agnostic investment approach with 25-30 holdings.
• Buoyant Opportunities Strategy
• Buoyant Opportunities Strategy-II
• Buoyant Opportunities Strategy-III
• Buoyant Opportunities Strategy-Large Value Fund
• Buoyant Capital Investment Advisers

Products and services

• Buoyant Opportunities PMS Flagship discretionary Portfolio Management Service offering a customized flexi-cap, sector-agnostic equity strategy with 25-30 holdings, benchmarked to BSE 500 TRI. Designed for HNIs with a minimum investment of INR 5 million, with no lock-in or entry/exit loads.
• Buoyant Opportunities ND-PMS Non-discretionary variant of the Buoyant Opportunities Portfolio Management Service, allowing clients to retain final decision authority on portfolio actions while benefiting from the firm's research and recommendations.
• Buoyant All-Weather PMS All-weather Portfolio Management Service designed to perform across varying market conditions through diversified allocation, offered under the firm's SEBI PMS registration.
• Buoyant Liquid PMS Liquid Portfolio Management Service focused on cash and short-term instruments, offered under the firm's SEBI-registered PMS services.
• Buoyant Opportunities Strategy (BOS) AIF First Category III open-ended Alternative Investment Fund scheme of the firm, offering medium-to-long-term flexi-cap, sector-agnostic equity exposure with 40-45 holdings. Minimum ticket INR 10 million, with no lock-in or exit load. Targeted at professionals with regulatory restrictions on direct share ownership.
• Buoyant Opportunities Strategy-II (BOS-II) AIF Second Category III open-ended AIF scheme with flexi-cap, sector-agnostic equity strategy and 25-30 holdings. Minimum ticket INR 10 million, with no lock-in or exit load.
• Buoyant Opportunities Strategy-III (BOS-III) AIF
• Buoyant Opportunities Strategy-Large Value Fund (BOS-LVF) AIF Category III AIF scheme focused on large-value investments under the Buoyant Opportunities Strategy umbrella. Minimum ticket INR 10 million, with no lock-in or exit load.
• Investment Advisory Services

Quantifiable outcome

• Strong risk-adjusted returns since inception (June 2016) as rated by independent agencies
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• ASK Investment Managers: One of India's largest domestic PMS and AIF providers, including ASK Private Wealth and Category II AIFs — directly comparable in offering PMS plus AIF (multi-category) products to HNI and institutional investors across India.
• Marcellus Investment Managers: Boutique Indian PMS provider with a distinct investment philosophy (consistent winners / little champs) and no-entry-load terms targeting HNIs — a near-direct competitor on PMS, ticket sizes, and fund manager-driven alpha proposition.
• Motilal Oswal Asset Management (Wealth / PMS): Indian PMS and Portfolio Manager offering buying-quality-and-holding strategies for HNIs — overlapping client segment, similar product wrapper (discretionary PMS), and competing on long-term wealth creation for Indian households.
• Value Quest Wealth Advisors: Boutique Indian PMS provider delivering customized equity portfolios to HNI investors — direct head-to-head competitor in the discretionary flexi-cap/sector-agnostic Indian PMS space that Buoyant targets.
• Ambit Investment Advisors / Ambit Private Wealth: Indian PMS boutique with research-driven equity strategies and house views published externally — comparable model of analyst-led decision-making, thought leadership content, and direct HNI distribution.
• First Global: Indian PMS with discretionary equity offerings under SEBI registration, targeting HNI and family-office clients with customized portfolios — comparable ticket sizes and product type to Buoyant.
• Parag Parikh Financial Advisory Services (PPFAS): Indian SEBI-registered PMS and MF provider serving HNIs with flexi-cap equity strategies and direct stock portfolios — directly comparable product set (PMS plus mutual fund) targeting the same HNI segment with value-conscious branding.

Broad incumbents

• Kotak Mahindra Asset Management: Large Indian AMC offering PMS and AIF products alongside mutual funds with institutional-grade distribution — sets the large-platform benchmark against which Buoyant's boutique proposition is benchmarked.
• Nippon Life India Asset Management: One of India's largest listed AMCs and a former employer of two of Buoyant's founders — provides scale-based competition across PMS, mutual funds, and AIFs from a broad-incumbent platform with deeper distribution.

Emerging players

• Multi-Act Equity Research: India-based equity research and PMS firm focused on small- and mid-cap investing — overlapping PMS offering and research-led culture though more concentrated in the small/mid-cap niche.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/@BuoyantCapital
• LinkedInlinkedin.com/company/buoyant-capital
• Xx.com/BuoyantCap

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Buoyant Capital