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Focused on Long-Term Compounding in Indian Public Equities.
Dhyana Capital is a SEBI-registered Category III Alternative Investment Fund (reg. IN/AIF3/20-21/0856), managed by Dhyana Equity LLP — a New Delhi-based, long-only public equity investment manager founded by Abhimanyu Sanghi in 2021. The fund invests in Indian public companies with a long-term business owner mindset. The name 'Dhyana' (Sanskrit for 'meditation' or 'focused contemplation') reflects the firm's intentional, patient approach to investing. Abhimanyu Sanghi founded Dhyana after seven years at Elevation Capital (formerly SAIF Partners), one of India's leading venture capital firms, where he developed deep conviction in long-term compounding. The fund runs a single, concentrated portfolio of Indian listed equities — biased toward smaller, often misunderstood or obscure companies — with no artificial constraints on size, sector, or liquidity. The manager's structure reinforces its investment philosophy: no fixed management fee, incentives above a compounding high-water mark, reinvestment of incentives in the fund, and the majority of the manager's own net worth committed to the fund.
Dhyana Capital invests in Indian public companies with a long-term business owner mindset. The team seeks companies with the best long-term compounding potential, focusing on businesses with durable competitive advantages, led by management teams they trust and respect. Companies are valued based on what the team expects to earn holding them indefinitely — not on what others might pay in a few months or years. The fund sees public markets as a conduit to partner with special companies at favourable prices for the very long term, treating equity as permanent capital. The structure reinforces the philosophy: no fixed fee, incentives over a compounding high-water mark, reinvestment of incentives back into the fund, majority of the manager's net worth in the fund, and complete focus on a single fund. The fund is biased toward smaller, often misunderstood or obscure companies where information asymmetry creates opportunity.
Abhimanyu Sanghi
FMFounder & Fund Manager
Abhimanyu Sanghi is the founder and fund manager of Dhyana Capital. Prior to founding Dhyana in 2021, he spent seven years at Elevation Capital (formerly SAIF Partners), one of India's most prominent VC firms. He has also worked at Fidelity International and McKinsey & Company. He holds an MBA from NYU Stern School of Business and an engineering degree from the University of Delhi.
Navneeth Jaikrishna
Investment Analyst
Navneeth Jaikrishna joined Dhyana in 2023 after completing an MSc in Finance from Esade Business School. Prior to his master's degree, he worked with Ernst & Young in the Restructuring and Turnaround practice and with J-PAL South Asia. He holds an economics degree from Flame University.
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