Fund Manager

Ricky Kirpalani

Ricky Kirpalani serves as the Founder, Managing Partner, and Chief Investment Adviser of First Water Capital, where he acts as the primary architect of the firm’s logic-based value investment philosophy. A seasoned veteran with over 30 years of experience in the Indian equity markets, Kirpalani has built a reputation for identifying high-quality, overlooked businesses with significant entry barriers. His track record is highlighted by his management of a private capital pool from 2002 to 2017, which achieved a remarkable 33% CAGR. Today, he leverages this deep expertise to lead the firm’s concentrated, long-only investment strategies.