Cat II · Managed by FirstCapital
Your Success Is Our Priority.
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Firstcapital Alternate Investment Trust is a SEBI-registered Category II Alternative Investment Fund managed by FirstCapital Advisors Private Limited, an investment and real assets advisory platform operating under the brand FIRST/ASSET. The firm focuses on structured real estate investments, particularly pre-leased and income-generating assets designed to deliver stable rental yields and long-term capital appreciation. With a strong institutional approach, the manager integrates real estate into broader portfolio strategies for high-net-worth individuals, family offices, and sophisticated investors. Its capabilities span the full investment lifecycle including market research, opportunity sourcing, financial evaluation, due diligence, structuring, negotiation, and transaction execution. The platform emphasizes disciplined asset selection, tenant quality, and location fundamentals, ensuring investments are aligned with long-term wealth creation objectives rather than short-term transactions. Leveraging deep expertise across capital markets, asset management, and real estate development, FirstCapital positions itself as a strategic partner for investors seeking structured, yield-oriented exposure to Indian real estate markets.
Akhilesh K Singh
Managing Director & CEO
Akhilesh is a management graduate with over three decades of distinguished experience spanning capital markets, investment banking, NBFCs, asset management, investment management, and real estate. He has successfully led multiple institutions as CEO, Managing Director, and senior CXO, including Future Capital, Birla Capital, Emkay Global, and Prebon Yamane, giving him a rare multi-cycle perspective on Indian financial markets. Recognised for his strategic acumen and calm deal-making style, Akhilesh brings deep expertise in equity markets, capital structuring, and complex transactions. His career encompasses building financial platforms, scaling businesses, managing risk, and advising promoters and families on significant capital and liquidity decisions.
Ravinder Babbar
Managing Partner | FirstCapital Investment Trust
A seasoned professional with over four decades of experience, he has led, delivered, and managed more than 17 million square feet of real estate across residential, commercial, and mixed-use developments. His career spans leadership roles with premier developers and transnational business houses in India, Nepal, and the United Kingdom. In his most recent role, he established and headed the real estate division of the Hinduja Group as its Chief Executive Officer. He has also played a pivotal role in shaping policy, having contributed to the formulation of real estate regulations and bye-laws for the Government of Nepal.
Sunita Karwa Rathi
COO | INDIAWEALTH
Sunita Karwa Rathi is a seasoned wealth and investment professional with over two decades of experience across private wealth management, family office advisory, and institutional consulting. She has worked with leading global and Indian firms including KPMG, where she advised business families, entrepreneurs, and senior professionals on complex financial, governance, and estate planning matters. Sunita's expertise spans multi-asset portfolio design, goal-based investing, succession planning, and legacy structuring for affluent families. She is known for her client-centric approach, combining analytical depth with empathy and discretion, particularly when working with families with special circumstances or inter-generational dynamics.
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Aditya B
Managing Partner | FirstCapital Investment Trust
Aditya B. is an investment and real assets professional with extensive experience across real estate investments, asset structuring, and transaction advisory. He has worked closely with developers, investors, and capital partners, supporting the structuring and execution of real asset opportunities across residential, commercial, and mixed-use segments. His background combines financial analysis with on-ground asset understanding, enabling disciplined decision-making across market cycles. Aditya's expertise spans real estate investment evaluation, structured transactions, and asset-backed opportunities. He brings a pragmatic, execution-focused approach, with a strong emphasis on risk assessment, governance, and investor-asset alignment.
Prof. Dr. Sanjeev Parashar
AdvisorIndian Institute of Management
Dr Parashar is a Professor and Dean with Indian Institute of Management, Raipur, India. He has thirty-two years' academic experience including, corporate training and consulting. He has published numerous research papers in prominent international journals and his case studies are available at Harvard Business Publishing. He is extensively travelled globally and has also been a Visiting Fellow at University of Kelaniya, Sri Lanka and is also currently mentoring startups and entrepreneurs.
Maj. General Sandeepan Handa (R)
AdvisorDefense & Diplomatic Veteran
PVSM
Maj Gen Sandeepan Handa had a distinguished career in the Indian Army, spanning 38 years of exemplary service marked by leadership, integrity, and operational excellence. His experience ranges across defence diplomacy and international defence cooperation, operational command, techno-logistics, and defence aviation procurement in complex multinational environments. In recognition of his outstanding contribution to the armed forces and the nation, he was awarded the Param Vishisht Seva Medal (PVSM) by the President of India, one of the highest peacetime military honours.
Sunita Goenka
AdvisorDynamix Group / Goenka Trusts
Sunita Goenka is associated with the Dynamix Group, one of the leading real estate developers in Western India, renowned for delivering several landmark residential and commercial projects spanning millions of square feet and shaping key urban landscapes. She also serves as the Managing Trustee of the Goenka and Associates Educational Trust (GAET). Under her vision and leadership, the Trust has developed and successfully operates eleven world-class educational institutions across Mumbai and Thane, imparting quality education to more than 22,000 students. Her work reflects a deep commitment to institution building, academic excellence, and creating meaningful impact in both real estate and education.
Manish Parashar
AdvisorFounder Amal Social - UAE
A B2B enterprise leader with three decades of experience across India, the Middle East, and Africa, he brings deep hands-on expertise in e-commerce, real estate, cloud solutions, online security, and encryption technologies. He helped launch Sharaf DG's retail format, duty-free operations, and e-commerce platform, driving scale and innovation. In 2022, he built and launched Amal Social, a start-up showcased at Expo 2020. Amal Social focuses on smart living through an AI-powered SaaS platform for smart cities and smarter communities, enabling information, interactivity, and intelligence while improving citizen services, engagement, and quality of life, with sustainability, scalability, and global relevance.
Shashi Singh
AdvisorCBO - Singularity AMC
Ms. Singh, brings in a unique experience in leading and setting up Asset Management / Alternate Investments / Private Equity, businesses from scratch both onshore and offshore. Diverse experience across Business Development, Sales, Strategy, Products, Marketing, Business Processes. Successful track record in building strong teams, stronger relationships, business processes, digitization, and sustainable growth drivers. She has been associated with Aditya Birla Group, ICICI Prudential, Reliance, etc. She has been ranked amongst Top 100 women in Finance in India.
Sanjay Nagar
AdvisorFounder & Trustee - Kohka Foundation
Sanjay Nagar, Founder & Trustee of Kohka Foundation, brings over two decades of experience in international banking to his mission of grassroots social transformation. Deeply inspired by his engagement with rural and tribal communities in Madhya Pradesh, he established the foundation in 2014 with a belief that empowerment creates more lasting change than charity. Under his leadership, the organisation focuses on education, digital literacy, women's skill development, health awareness, and livelihood initiatives, working to build dignity, confidence, and sustainable self-reliance within underserved communities.