Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.
Vaikarya Change India Trust (SEBI Reg. IN/AIF3/24-25/1536) is a Category III AIF (open-ended) registered in June 2024 and managed by Vaikarya Change LLP, a Mumbai-based investment management firm. Vaikarya is an India-focused equity investment firm that concentrates on identifying companies undergoing transformative changes — specifically companies where the long-term future trajectory is expected to be materially different from the past. The fund's strategy is structured around cycles of CHANGE: first targeting special situations (stocks poised for significant shifts such as management changes, corporate actions, or regulatory developments), and subsequently investing in quality compounders that continue to build on those initial changes. Vaikarya prioritises under-researched or out-of-favour stocks with a long growth runway, constructing a concentrated, best-idea portfolio across market caps and sectors. The investment team was built by former Franklin Templeton, Fidelity, and East Bridge Capital professionals. The fund is open-ended and operates out of 01A112, Raheja Platinum, Andheri East, Mumbai 400059.
Avnish Tiwari
CIO and Partner
M.B.A. (Wharton School), B.Tech. (IIT Bombay)
Avnish Tiwari is the CIO and Partner. Before Vaikarya, he was the Managing Director at East Bridge, leading its India office. Before East Bridge, Avnish Tiwari worked with Franklin Templeton and Fidelity, focusing on investments across various sectors and geographies. He holds an M.B.A. from the Wharton School at the University of Pennsylvania and a B.Tech. from the Indian Institute of Technology, Bombay.
Avnish Burman
Senior Investment Professional and Partner
M.B.A. (Indian School of Business), B.Tech. (IIT Delhi)
Avnish Burman is a senior investment professional and Partner. Before Vaikarya, he was a Principal at East Bridge. Before East Bridge, Avnish Burman worked with IIFL, Dr. Reddy's, and Biocon. He holds an M.B.A. from the Indian School of Business and a B.Tech. from the Indian Institute of Technology, Delhi.
Rahul Kumar
Senior Investment Professional
M.B.A. (IIM Ahmedabad), B.Tech. (IIT Kharagpur)
Before Vaikarya, he was a senior investment analyst at Singular Capital. Before Singular, he worked with ArthVeda fund, CIMB, Jefferies and Tata Motors. He holds an M.B.A. from Indian Institute of Management, Ahmedabad and a B.Tech from Indian Institute of Technology, Kharagpur.
Gaurav Shetty
Chief Operating Officer
Chartered Accountant, LL.B
Gaurav Shetty is the Chief Operating Officer at Vaikarya. Before Vaikarya, he worked with Treelife. Prior to Treelife, Gaurav worked with PwC. He is a Chartered Accountant and holds a Bachelor of Law (LL.B) degree.
Prashant Kadam
Data Analyst
B.E. (D. J. Sanghvi College of Engineering)
Prashant Kadam is a Data Analyst at Vaikarya. Before Vaikarya, he worked with Decimal Point Analytics. He holds a Bachelor's degree in Engineering (B.E.) from D. J. Sanghvi College of Engineering, Mumbai.
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Anchal Rastogi
Senior Investment Professional
M.B.A. (Welingkar Institute)
Anchal Rastogi is part of the investing team at Vaikarya. Before Vaikarya, she was an Associate Director at MAPE Advisory, now Incred Capital. Before MAPE, Anchal worked with Avendus. She did a Business Leadership Program at Stanford GSB and holds an M.B.A. from the Welingkar Institute, Mumbai.