Trust. Process. Performance.
The firm's disciplined investment approach combines rigorous research with prudent risk management to deliver superior risk adjusted returns. A focus on growth and stability makes the firm a trusted partner. Driven by market cycles, the firm embraces the Japanese concept of IKIGAI, or ‘reason for being’. The firm's mission is to safeguard your financial freedom by aligning with your IKIGAI.
Sorted by 3-year return. Returns are TWRR, net of fees; CAGR above 1 year.
IKIGAI Bespoke Small Cap Strategy
Pankaj Tibrewal
Founder & CIO
Pankaj Tibrewal brings over two decades of extensive fund management experience. At Kotak Mutual Fund, he successfully managed assets worth ₹56,000 crore ($6.75 billion) over a remarkable 14-year span. He significantly grew the Kotak Emerging Equity Fund from ₹113 crore ($13 million) in 2010 to ₹36,000 crore ($4.33 billion), establishing it as the country’s second-largest mid-cap fund. Additionally, he expanded the Kotak Small Cap Fund from ₹127 crore ($15 million) to ₹13,000 crore ($1.56 billion), ranking it the fifth-largest small-cap fund. Under his leadership, Kotak Mutual Fund’s total AUM reached ₹3.50 lakh crore as of November 2023, positioning it among the top five Indian asset management companies. He also managed the Kotak Business Cycles Fund and the equity portion of the Kotak Equity Hybrid Fund. Pankaj has been consistently recognised among the top 10 fund managers in India by Outlook Business (2016-2021) and featured as a top fund manager by The Economic Times and Morning Star (2016-2022).
Manesh Thakur
Director – Sales & Marketing
With over 25 years of experience in business strategy, sales and distribution, marketing, and customer experience, Manesh has spent 23 years in asset management, launching and scaling businesses in Mutual Funds, PMS and AIFs. He has previously worked with Axis AMC, Mirae Global and Principal AMC. As Head of Retail - Sales & Investor Services at Axis AMC, he was part of the team that helped build an AUM of $31.9 billion.
Mehul Shah
Head – Finance & Operations
A Chartered Accountant with over two decades of expertise in accounts, taxation and back-office operations for private equity, investment banking and broking entities, Mehul spent 18 years with the Kotak Mahindra Group. He has managed accounts and operations for funds with a total AUM exceeding $2 billion and has received the ‘CFO Next 100 Award’ by CFO India for two years.
Rahul Agarwal
Investment Director
A qualified Chartered Accountant with 18 years of experience in Indian equity investments and research, Rahul previously served as Deputy Head of Institutional Equity Research at Incred Capital (2020–2024). He earlier led the investment team at VEC Investments (2011–2020), focusing on Consumer Discretionary, Automotive, Healthcare and Industrials sectors. He began his career in 2006 at Anand Rathi Shares and Stock Brokers.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Devesh Lakhotia
Investment Analyst
A Chartered Accountant who ranked AIR-3 in Inter and AIR-5 in Finals, and a CFA charterholder placing in the top 10 percentile in Levels I and II. As Lead Analyst at ICRA, Devesh covers the banking sector, performing in-depth analyses of operating segments, borrower profiles, asset liability management and capital positions, and develops complex financial models to forecast performance.
Nihaar Shah
Senior Investment Analyst
Nihaar has over 10 years of experience across investment banking and equity research. He worked with one of India’s largest family offices, the Enam group, for over 6.5 years covering sectors including auto, logistics, real estate and engineering/capital goods.
Soniya More
Equity Trader
Soniya brings over 18 years of stock market experience, including three years as an Equity Dealer at Kotak Life Insurance where she received the KCLAP Award. She is a graduate of D.G. Ruparel College, holds a postgraduate degree in Finance from K.C. College, has completed the Executive Programme in Algorithmic Trading (EPAT) from QuantInsti and is a Certified Alternative Investment Manager from AIWMI.
Neel Mehta
Investment Analyst
A qualified Chartered Accountant who has cleared all levels of the CFA program, placing in the top 10 percentile in Levels I and II. Neel began his career with Deloitte in Audit and Assurance. He joined from Investec Capital where he was a Research Associate covering Banking, Real Estate, Exchanges and Payments sectors, and led initiation reports on fintech entities.
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