Karma Capital AIF — Karma Capital Advisors | Wisefolio

Karma Capital AIF

Cat III · Managed by Karma Capital Advisors

Value Driven. Long Term. Absolute Return.

Investment manager also runs PMS

Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.

Overview

About

Karma Capital Aif is a SEBI-registered Category III Alternative Investment Fund (reg. IN/AIF3/23-24/1283), registered in October 2023 and managed by Tradebulls Capital Limited (CIN: U67190MH2004PTC148102, SEBI PMS Registration: INP000001223) — a Mumbai-based independent investment management organisation founded in 2005, headquartered at Floor 12U, Suite I, Remi Commercio, Off Veera Desai Road, Andheri West, Mumbai 400053. Founded by Rushabh Vinod Sheth (30+ years experience) and co-managed with Nikhil Praful Desai, Karma Capital Advisors manages approximately ₹4,586 crore (~$617 million) in assets for institutional and individual investors in India and globally. The firm's primary product is Discretionary Portfolio Management Services (PMS) for domestic HNIs, Family Offices, and Institutions, and Investment Management/Advisory for offshore institutional investors (endowments, pension funds, SWFs, and family offices). The Cat III AIF (Karma Capital Aif) is the onshore pooled vehicle for eligible investors, running a long-only listed India equities strategy consistent with the PMS approach. The firm's partners, Rushabh Sheth and Nikhil Desai, have been together for 20+ years at Karma Capital, indicating exceptional team stability.

Investment philosophy

Karma Capital Advisors' investment philosophy is value-driven, with a medium to long-term time horizon and an absolute return mindset. The firm was started with a specific idea: to manage money based on a value-driven philosophy where Growth and its quality are an important contributor to value — 'Value investing is where Growth and its quality are an important contributor to value.' The fund runs a concentrated, bottom-up, fundamental, and primary research process focused on high-conviction ideas in Indian listed equities. Karma Capital has no conflict of interest — money management is its sole business activity. The firm is 100% owner-operated, with the founding partners still managing assets. The investment universe spans large-cap and mid-cap Indian equities across sectors including Banking & Financials, Insurance, FMCG, Hotels, Hospitals, Oil & Gas, and Consumer. Key differentiators: 20-year track record, extraordinary team tenure, and a research-intensive approach backed by primary channel checks and direct company interactions.

Team22

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Rushabh Vinod Sheth

Fund manager

Founder & Managing Partner / Portfolio Manager

Rushabh Vinod Sheth is the Founder and Managing Partner of Karma Capital Advisors Private Limited and the lead portfolio manager. He has over 30 years of buy-side experience in Indian listed equities and has been with Karma Capital for 20 of those years — since the firm's founding in 2005. He is a qualified Cost Accountant (ICWA) and holds a Bachelor of Commerce from Sydenham College, University of Mumbai. He co-manages the firm with Nikhil Desai and together they manage ₹4,586 crore (~$617 million) for domestic and global institutional investors.

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Nikhil Praful Desai

Fund manager

Co-Founder & Partner / Portfolio Manager

Nikhil Praful Desai is a Co-Founder and Partner at Karma Capital Advisors Private Limited, with over 30 years of buy-side experience in Indian equities. He holds an MBA from Virginia Tech (USA) and a Bachelor of Commerce from Sydenham College, University of Mumbai. He has co-managed Karma Capital alongside Rushabh Sheth for 20+ years and is a Director of the firm per MCA records.

Ekta Mehta

Fund manager

Portfolio Manager

Ekta Mehta is a Portfolio Manager at Karma Capital Advisors with over 12 years of investment and financial analysis experience. She manages large-cap funds and covers Banking, Financials, Insurance, FMCG, Hotels, Hospitals, and Oil & Gas sectors. Prior to Karma Capital, she worked at MSCI, SGA, and B&K Securities (sell-side analyst, media sector). She holds an MBA in Finance from NL Dalmia Institute of Management Studies and a CFA degree from ICFAI University.

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Shardul Singh

SEBI Contact Person / Operations

Shardul Singh is the SEBI-designated contact person for Karma Capital India Fund at Karma Capital Advisors Private Limited, Mumbai.

Hardik Parikh

Head - Operations and IT

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF3/23-24/1283

RegisteredMay 2023 (3 years ago)

Valid untilPerpetual

Contact personAasif Hirani

AddressTradebulls House, Sindhubhavan Road, Ahmedabad, Gujarat, 380054

Investment manager

Karma Capital Advisors

Insights

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Disclaimer

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