White Pine Investment Management Private Limited
White Pine Investment Management Private Limited is a Mumbai-based, SEBI-registered portfolio management firm incorporated in May 2021. The firm was co-founded by Niraj Mansingka (formerly of Goldman Sachs) and Manish Karwa (a veteran banking sector analyst), who together bring over 40 years of equity research and fund management experience.
Their flagship White Pine India Emerging Stars Approach is a multi-cap strategy that focuses on identifying high-quality businesses with a market capitalization typically under ₹40,000 Crores. As of early 2026, the firm manages approximately ₹379 Crores for over 180 clients. The investment philosophy is built on "process-driven" fundamental research, with the founders maintaining strong alignment by investing their own capital alongside investors.
