About Company
Alchemy Capital Management Pvt Ltd
Alchemy Group, a leading investment management firm in India, has been operating successfully since 2002. Founded by four seasoned equity market professionals, each with more than 30 years of experience, the group boasts a strong foundation. Under the leadership of its Chief Investment Officer, Hiren Ved, the team, which has collaborated for over two decades, has fostered a culture of excellence and established an institutional pedigree focused on consistently delivering superior performance to its clients. The Alchemy Group currently manages assets worth USD 1.2 billion. Alchemy is led by Co-Founder Hiren Ved, who also serves as the Director & CIO. With a strong continuity in investment philosophy and strategy, Hiren and the Alchemy team have cultivated a culture of performance excellence. This has been instrumental in maintaining a consistent track record in their investment strategy. Alchemy boasts a comprehensive network of relationships developed over decades. This network provides the team with valuable insights into stocks, sectors, businesses, and potential investment opportunities, ensuring they remain ahead of market trends.
Fund Snapshot
| Fund Attribute | Details |
| Strategy Name | Alchemy Emerging Leaders of Tomorrow – Series 2 |
| Asset Manager | Alchemy Capital Management Private Limited |
| Structure Type | Alternative Investment Fund (AIF) – Category III (Long Only) |
| Regulatory Authority | Securities and Exchange Board of India (SEBI) |
| Inception Date | March 10, 2021 (Onboarding/Active Series Lifecycle ongoing) |
| Fund Managers | Hiren Ved (Co-Founder & CIO) & Mythili Balakrishnan |
| Primary Investment Universe | High-growth, emerging Mid-cap and Small-cap companies |
| Primary Benchmark | S&P BSE 400 MidSmallCap Index |
| Minimum Investment | ₹1 Crore (Statutory minimum for Category III AIF platforms in India) |
| Asset Class Mandate | Up to 100% in listed equities; selectively utilizes PIPE, QIP, and IPO paths |
Strategy Overview
The Alchemy Emerging Leaders of Tomorrow – Series 2 strategy is a high-conviction, growth-oriented investment vehicle designed to spot scalable corporate enterprises before they appear on mainstream institutional radar. Operating as a Category III Alternative Investment Fund (AIF), it has a flexible, unconstrained multi-cap approach but explicitly skews its asset weight toward mid-cap and small-cap segments.
The strategy positions itself directly in front of structural megatrends driving India's domestic growth cycle—such as manufacturing localization (Make in India), premiumization of consumer trends, and digital adoption. By deploying capital into businesses that possess robust unit economics but are still in their compounding phase, the fund targets substantial absolute alpha over a multi-year horizon.
Investment Philosophy
Alchemy Capital follows a structured, research-driven investment philosophy focused on long-term wealth creation through equities:
- Growth at Reasonable Price (GARP)
Core philosophy combines growth investing with valuation discipline—identifying high-quality businesses available at reasonable valuations. - Bottom-Up Stock Selection
Primary focus is on company fundamentals, with stock picking driven by deep research rather than macro speculation. - Blend of Top-Down & Bottom-Up Approach
While stock selection is fundamental-led, macro trends and sector outlooks are also considered to enhance risk-reward balance. - High-Conviction Portfolio Construction
Portfolios are built with a limited number of carefully selected stocks, ensuring meaningful allocation to best ideas. - Focus on Quality & Scalability
Preference for companies with strong management, scalable business models, and sustainable competitive advantages. - Long-Term Investment Horizon
Emphasis on compounding wealth over time by staying invested through market cycles rather than chasing short-term trends. - Disciplined Risk Management
Continuous portfolio review, valuation checks, and timely exits when the investment thesis weakens. - Consistency Across Market Cycles
Objective is to deliver sustainable, risk-adjusted returns with a steady investment approach rather than opportunistic trading.
Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Hiren Ved
Hiren Ved, an equity market veteran, serves as the Director & CIO at Alchemy Capital Management where he has been leading the firm’s Asset Management business. With over 30 years of experience in the Indian equities market, Hiren has developed a sustainable long-term investment philosophy based on fundamental research. He is known for his deep sector knowledge, bottom-up research skills and stock picking abilities. He holds a graduate degree in Accounting from Mumbai University and a post-graduation in Management & Cost Accounting from The Institute of Cost Accountants of India.
Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
This fund is structured as a SEBI-registered Category III Alternative Investment Fund (AIF). Unlike a mutual fund, which has rigid diversification mandates and is open to retail ticket sizes, or a Portfolio Management Service (PMS), which manages individual isolated accounts, this AIF pools capital into a unified structure. This allows the fund managers to take larger, high-conviction stakes and selectively participate in complex transaction pipelines like private investments in public equity (PIPE) or anchor IPO allocations.
The fund is co-managed by Hiren Ved, Co-Founder and Chief Investment Officer of Alchemy Capital, who brings over three decades of public market experience, and Mythili Balakrishnan, a seasoned equity specialist with an engineering background from DCE and a management diploma from IIM Ahmedabad. Together, they direct bottom-up corporate research and manage the fund's sector weights.
The systematic screening engine concentrates assets in spaces experiencing structural earnings tailwinds. According to recent asset allocation data, the strategy maintains a strong focus on Industrials and Capital Goods (accounting for nearly half of the active portfolio weight through names like TD Power Systems, Bharat Electronics, and Hitachi Energy India), followed by targeted weights in consumer cyclical platforms, specialty technology, and market infrastructure financial services like MCX.
In strict alignment with the statutory compliance thresholds set by SEBI for all Alternative Investment Funds operating within India, the absolute minimum ticket size for onboarding an individual or corporate account is ₹1 Crore. The vehicle is designed with a long-term, close-ended multi-year structure to allow the underlying small and mid-cap corporate business expansion cycles to fully mature.
Because this vehicle positions its capital growth engines inside the mid-cap, small-cap, and micro-cap universes, it sits at the higher end of the capital market risk spectrum. Smaller companies are inherently susceptible to sharper price volatility and near-term drawdowns during broader macro market corrections. Additionally, entering or exiting large positions can cause higher impact costs during periods of low market liquidity, making the strategy best suited for aggressive allocators with a 3 to 5-year horizon.
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Disclaimer: Investing in AIF, PMS, Gift City or Mutual Fund is subject to market risk. Please read the related documents carefully. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. Actual portfolios may differ as a result of account size, client-imposed investment restrictions, the timing of client investments and market, economic, and individual company factors. We at ALTPORT do not guarantee any returns in the hands of investors, nor do we take any sort of accountability for the performance of the scheme.