
Cat III · Managed by InCred Asset Management
Research-intensive, high-conviction investing
Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.
India Value and Growth Trust (IVGT) (IN/AIF3/18-19/0652) is a SEBI-registered Category III AIF managed by InCred Asset Management Private Limited (CIN U65990MH2022PTC377781). IVGT houses three schemes: India Value and Growth Fund-I, Emerging Business Fund, and InCred Equity Advantage Fund-I. InCred Asset Management is part of InCred Group — a diversified financial services conglomerate founded by Bhupinder Singh (ex-Deutsche Bank India CEO). The AIF business operates alongside InCred Alternative Investments Private Limited (the second AIF manager entity) and InCred's NBFC, wealth management, and digital lending arms. The original SEBI registration address (2019) was at 2102, Tower A, Ashok Towers, Parel East (Bhupinder Singh's residential address). Current operational address: Unit No. 1203, 12th Floor, B Wing, The Capital, C-70, G Block, BKC, Bandra (E), Mumbai – 400051.
Aditya Sood
Fund managerFund Manager, India Value and Growth Fund-I (departed; now Founder, BTH Capital)
Aditya Sood was the Fund Manager at InCred Asset Management, leading the India Value and Growth Fund-I. He has 20 years of equity management experience, with 18 years in fund management, and previously led the investment function at ICICI Prudential PMS (INR 4,000 crore AUM). He departed InCred in early 2026 to co-found BTH Capital alongside Vishal Sood and Sugandhi Sud, CFA — adopting a philosophy of 'Invest with our investors, not just for them' with meaningful personal capital co-invested.
Ankur Banerjee
Fund managerFund Manager – Private Credit / Special Situations, InCred Alternative Investments
Ankur Banerjee has 15+ years in alternative investing including 6 years in PE and balance in operational consulting and private credit. Formerly at KKR, Edelweiss, Alvarez & Marsal, WL Ross & Co, and D.B. Zwirn & Co. Experienced across investing through the capital structure, portfolio value creation, crisis management, and exits.
Virendra Somwanshi
Fund managerFund Manager – Hedge Fund Strategies, InCred Alternative Investments
Virendra Somwanshi has 10+ years in quantitative research and portfolio management. Previously Portfolio Manager at Aditya Birla Sun Life AMC (Quant Fund and ADAPT Portfolios for PMS). Holds an integrated MSc from IIT Kanpur in Mathematics and Scientific Computing.
Gurpreet S Arora
Fund managerFund Manager, InCred Asset Management
Gurpreet brings over 18 years of experience in equity investing across corporate treasury, family offices, PMS, and insurance, with exposure to managing institutional mandates in India. He has managed multi-strategy portfolios ranging from ₹360 crores to ₹2,400 crores in AUM, and has worked with leading institutions including Bajaj Group Treasury, Narotam Sekhsaria Family Office, Aviva Life Insurance India. His investment approach is fundamentally driven with a strong bottom-up research focus, combined with an understanding of macro cycles, sector dynamics, and behavioural factors. He is known for his process-oriented philosophy, disciplined risk management, and consistent portfolio construction across market environments. He has also contributed to building investment research frameworks, mentoring teams, supporting investment committees on asset allocation and risk decisions, and strengthening investor communication processes. Gurpreet holds a postgraduate degree in business management with dual specialisations in Finance and Insurance & Banking.
Aditya Sood (original SEBI registrant)
SEBI Contact Person (at time of registration, 2019)
Aditya Sood (adityasood81@gmail.com) was the SEBI contact person at the time of the March 2019 AIF registration, listed at his residential address in Ashok Towers, Parel East. He was the original fund manager of India Value and Growth Trust before InCred Group acquired/absorbed the platform.
Aditya Khemka
CIO, InCred Asset Management
Aditya has over 16 years of experience in the healthcare business and investments with working experience in the US, EU, Latin America and in India. He is well known as a top-performing healthcare fund manager in India and has formerly worked with DSP Investment Managers. Under him, the DSP Healthcare Fund was best-performing sectoral Fund. His investment process is built on bottom-up research and understanding the source of cash flows and their sustainability. He started his career working with Glenmark Pharma in 2005 and worked in Brazil and Argentina. He then moved to Lehman Brothers (US) in 2007 and covered US generics companies like Teva, Mylan etc. He then worked with Nomura (UK) in 2008, covering MNC Pharma companies like GSK, Novartis, and Sanofi among others, moving to Nomura India in 2011, where he started coverage of the Indian Healthcare sector. Formerly Aditya worked with DSP Investment Managers as well.
Samir Vora
CEO, InCred Asset Management
MBA (Finance)
Samir Vora brings over 25 years of experience across asset management, wealth management, and investment advisory. He was earlier Group CEO at Enam Asset Management, where he led the firm's growth and transformation, strengthening investment capabilities, expanding the client franchise, and building a high-performance, process-driven organisation. He has also been a Partner at Pi Square Investments and held leadership roles at Bank of America, advising HNI clients. He focuses on building a scalable, institutionally strong investment platform, sharpening investment processes, and driving long-term business strategy in close collaboration with investment and leadership teams. He will also work towards strengthening a research-driven culture and enhancing cross-functional collaboration across the organisation. Samir holds an MBA in Finance from Montclair State University, USA.
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