Quest Investment

What Quest Investment does

Quest Investment Managers Pvt. Ltd. is a privately held, SEBI-registered Indian wealth management firm headquartered in Mumbai, with additional offices in Bengaluru and New Delhi. Founded in 1987 by Ajay Sheth (a cost accountant who began offering equity research on mid- and small-cap names to FIIs and institutional investors), the firm has evolved into a specialist active-equity manager operating two regulated product lines: Portfolio Management Services (PMS) and Alternative Investment Funds, including a Category III trust and an AIF Sector Rotation II strategy. It serves 1,400+ high-net-worth Indian investors with minimum portfolio sizes of 1 Crore, with tiered onboarding at "Less than 1 Crore," "1-5 Crore," and "Above 5 Crore" brackets.

The firm's investment process is research-driven, combining bottom-up equity research with sector rotation across market capitalisations, supported by what the company calls a "memory-rich" research system covering 1,000+ companies across multiple business cycles. Technology assets include a client portal (investor.questinvest.com), a SIP login portal (pmssip.questinvest.com), and a distributor/CSP portal (csp.questinvest.com) for 100+ intermediary partners. Distribution runs on a dedicated wealth-advisor model with single-point-of-contact advisors and direct relationships; no app, API, SDK, or third-party integrations are listed. Leadership comprises Rajkumar Singhal as CEO & MD, Rakesh Vyas (ex-HDFC MF, 20+ years) as CIO, Hiten Sampat as CFO & CCO, Saurabh Patwa as Head of Equities, plus founder Ajay Sheth and founding member Bharat Sheth.

Quest earns revenue on a subscription/recurring basis through PMS and AIF management and performance fees. Pricing is quote-based and not publicly disclosed. A distinctive structural feature is the firm's pledge — via its Quest Foundation — to dedicate 100% of corporate profits to CSR activities (education, healthcare, tribal upliftment), funded through partnerships with organizations such as SNDT College, BKS Iyengar Trust, Chinmaya Mission, and Tribal Integrated Development Trust. Headcount sits in the 11-50 range and the firm is privately held with no disclosed institutional investors, funding rounds, M&A, or parent-company structure.

Name

Quest Investment

Legal name

Quest Investment Managers Pvt. Ltd.

Website

https://questinvest.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Quest Investment Managers is a SEBI-registered Indian wealth management firm (Mumbai-headquartered, Bengaluru and New Delhi offices) offering Portfolio Management Services and Category III Alternative Investment Funds to 1,400+ high-net-worth investors with portfolios of 1 Crore and above.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Discretionary Portfolio Management (Retail) (FSAAAAAH)

akta.pro secondary industries

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Multi-Strategy — Equity L/S + Sector Specialists (FSAHAFAD)

Keywords

• Portfolio management services
• Alternative investment funds
• Wealth management
• Equity research advisory
• Asset management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Portfolio Management Services (PMS): Professional portfolio management services for discerning investors, generating risk-adjusted returns through focused portfolios, rigorous research, and long-term discipline across market capitalisations.
2. Alternative Investment Funds (AIFs): Thematic and multi-cap strategies offering niche, high-conviction investment opportunities across sectors, asset classes, and market cycles with active portfolio oversight and structured risk management.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Quest Investment Managers provides discretionary Portfolio Management Services (PMS) for discerning investors, managing focused equity portfolios with rigorous research across market capitalisations to generate risk-adjusted returns. The firm also offers Alternative Investment Funds (AIFs), including the SEBI-registered Quest Investment Trust (Category III) and the AIF Sector Rotation II strategy, enabling clients to participate in thematic and high-conviction opportunities with structured risk management and active portfolio oversight.

Product overview

Quest Investment Managers is a wealth management firm offering two primary product lines: Portfolio Management Services (PMS) for professional equity portfolio management with focused portfolios and rigorous research across market capitalizations; and Alternative Investment Funds (AIFs) including the Quest Investment Trust (Category III) and AIF Sector Rotation II strategy for differentiated, high-conviction investment opportunities. The firm also offers a PMSSIP systematic investment plan as an add-on to its PMS services.

Differentiator

Problem solved

Functional benefit

Products and services

• Portfolio Management Services (PMS) Professional discretionary portfolio management services designed for discerning investors, combining agility with patience to deliver consistent outcomes through focused portfolios, rigorous research, and long-term discipline. The service targets high-net-worth individuals across multiple minimum portfolio tiers (Less than 1 Crore, 1-5 Crore, Above 5 Crore) seeking risk-adjusted returns and alpha generation across market capitalisations.
• Alternative Investment Funds (AIFs) Differentiated investment opportunities through thematic and multi-cap AIF strategies, enabling investors to participate in niche, high-conviction ideas across sectors, asset classes, and market cycles. The offering includes structured risk management and active portfolio oversight, targeting sophisticated investors seeking diversification beyond traditional investments.
• AIF Sector Rotation II A specific AIF strategy under Quest's Alternative Investment Fund platform that follows a sector rotation approach to capitalise on emerging opportunities across sectors and market cycles, providing active portfolio oversight and structured risk management.
• Quest Investment Trust (Category III AIF) SEBI-registered Category III Alternative Investment Fund (Registration No. IN/AIF3/18-19/0623) managed by Quest Investment Managers, enabling qualified investors to participate in differentiated investment strategies under regulated AIF structures.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• SNDT CollegecoreStrategic or Co-development PartnerQuest Foundation has established enduring partnerships with SNDT College to make education more accessible to students from economically weaker sections of society.
• BKS Iyengar TrustcoreStrategic or Co-development PartnerPartnership with BKS Iyengar Trust as part of Quest Foundation's education initiatives for underprivileged communities.
• Tribal Integrated Development Trust, MumbaicoreStrategic or Co-development PartnerPartnership for tribal upliftment and financial inclusion, including paying school/college fees for deserving students and extending direct financial assistance to marginalized families for home-based micro-enterprises.
• Chinmaya MissionminorStrategic or Co-development PartnerLaunched Geeta at a Glance initiative offering a concise overview of the 18 chapters of the Bhagavad Gita through 20 immersive sessions, making timeless wisdom accessible to all.
• Nutan Gyaan DharaminorStrategic or Co-development PartnerQuest Foundation sponsors this free public library housing over 12,000 titles spanning spirituality, healthcare, meditation, and yoga.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Kotak Mahindra Wealth Management: Kotak's private wealth and PMS division serves UHNW and HNW Indian investors with discretionary and advisory mandates. A larger incumbent offering an overlapping product suite (PMS, AIF) under a bank-distribution model.
• IIFL Wealth Management: IIFL Wealth is among India's largest private wealth and PMS/AIF platforms, offering discretionary portfolio management and alternative funds to UHNW and HNW clients. A dominant incumbent in the same addressable market as Quest.
• Motilal Oswal Wealth Management: Motilal Oswal's wealth management arm offers PMS, AIFs, and private wealth advisory to Indian HNW clients. While part of a much larger financial services group, it competes head-on with Quest for the 1 Crore+ investor segment.

Emerging players

• Buoyant Capital: Buoyant Capital is an India-focused boutique running PMS and AIF strategies in mid- and small-cap equities. Closely comparable on boutique scale and product mix to Quest, targeting similar HNW investors.

Direct peers

• ValueQuest Investment Advisors: ValueQuest is an Indian boutique PMS/AIF manager running discretionary equity strategies for HNW investors — highly comparable to Quest on product structure, target client (1 Crore+ portfolios), and mid-cap/small-cap research focus.
• Sanctum Wealth: Sanctum Wealth is a Mumbai-based private wealth and PMS/AIF boutique serving Indian HNW clients with discretionary portfolio strategies. Direct overlap with Quest in product offering, geography, and target segment.
• ASK Investment Managers: ASK is one of India's largest pure-play PMS and AIF providers, offering discretionary portfolio management and alternative investment funds to HNW and institutional clients — directly comparable to Quest's product mix and target segment.
• Sundaram Alternates: Sundaram Alternates is the AIF and PMS platform of the Sundaram group, offering alternative and discretionary equity strategies to Indian HNW investors. Comparable on PMS/AIF product mix and HNW target customer base.
• Marcellus Investment Managers: Marcellus is an India-based PMS firm offering research-driven, concentrated equity portfolios to HNW clients. It mirrors Quest's fundamental-research-led, low-turnover PMS approach and competes for the same HNW allocation.
• Ambit Wealth: Ambit's wealth arm offers discretionary PMS and private wealth advisory in India with a research-driven equity orientation — closely aligned with Quest's investment approach and HNW target market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Quest_Invest
• LinkedInlinkedin.com/company/quest-investment-advisors-private-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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 Quest Investment