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Rule 1: Don't lose money. Rule 2: Don't forget Rule 1.
East72 Capital Trust is a SEBI-registered Category III Alternative Investment Fund (reg. IN/AIF3/24-25/1695), managed by East72 Capital Management & Advisors LLP (LLPIN: ACH-9994) — an Ahmedabad-based listed equity investment manager. The fund's primary scheme is 'East72 Capital Fund 1', an open-ended long-only listed Indian equities strategy. The fund is led by Nandan Madhiwalla and advised by Kunal Shah (former CFO of AIA Engineering) and Vatsal Gupta (former investment research head at Baroda Brokers). Service partners include HDFC Bank (custodian and fund accountant), CAMS Ltd (RTA), Axis Trusteeship Limited (trustee), and Gandhi & Associates LLP (statutory auditor). The fund's name references 'East 72' — likely an address or directional reference resonant with the Ahmedabad investment community.
East72 Capital's investment philosophy is inspired by Warren Buffett's cardinal rules of capital preservation: 'Rule 1: Don't lose money. Rule 2: Don't forget Rule 1.' The fund takes a long-term, research-driven approach to investing in Indian listed equities, with a focus on businesses with strong fundamentals and capable management at attractive valuations. The team's background combines deep equity research (PPFAS MF, Roosevelt Investment Group, Lebenthal Asset Management), operational expertise at a BSE-listed manufacturing company (AIA Engineering), and NBFC/financial risk management — bringing complementary perspectives to portfolio construction.
Nandan Madhiwalla
FMFounder & Fund Manager
Nandan Madhiwalla is the Founder and Fund Manager of East72 Capital. He previously founded and ran a SEBI Registered Investment Advisory firm (Aug 2018 – Mar 2024). He was a Research Analyst at PPFAS Mutual Fund (May 2015 – Feb 2018), covering Indian and US stocks in financial and media sectors. Earlier, he contributed to investment models at Lebenthal Asset Management (Sep 2014 – Mar 2015) and conducted buy-side equity research at The Roosevelt Investment Group (Feb 2012 – Jan 2014). He is a CFA charterholder (2016), holds an MS in Financial & Risk Engineering from NYU (2011), a B.E. in Computer Science from D.J. Sanghvi College of Engineering, Mumbai (2008), and is NISM-Series-XIX-C certified for AIF Managers (2024).
Kunal Shah
Advisor / Investment Committee
Kunal Shah joined AIA Engineering in 2002 when its revenues were ~₹80 crore, serving through its growth to ₹4,500+ crore revenues. He held key functions including supply chain management, IT, M&A, and served as CFO from 2014 to 2017. He also chairs the Audit Committee of Harsha Engineers International Limited. He holds an MS in Information Systems from Stevens Institute of Technology (USA) and a B.E. in Chemical Engineering from Nirma Institute of Technology.
Vatsal Gupta
Advisor / Investment Committee
Vatsal Gupta led investment research at Baroda Brokers Private Limited and managed the firm's investment portfolio. He served as Designated Director overseeing RBI compliance for a non-deposit-taking NBFC and FIU compliance. He holds an MS in Water and Environmental Resources (2017) and a BS in Civil and Environmental Engineering (2016) from UCLA, and has completed the Executive Education Programme from IIM Ahmedabad (2023).
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