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Where Bharat meets Institutional Capital. Pursue Growth. Preserve Value.
Hegd Growth Equity Fund (IN/AIF2/25-26/2032) is a Category II AIF managed by Hegdinvst Investment Managers Private Limited, operating under the brand Hegdinvst, headquartered at The Capital, Anna Nagar, Chennai 600040. Founded in 2025 by Aditya Bhandari (Chartered Accountant, 16 years at Incofin Investment Management), Hegdinvst is a growth private equity firm focused on 'Bharat' — India's underserved domestic majority — with a dual mandate of pursuing growth and preserving value. The firm backs entrepreneurs building businesses for India's underserved majority across financial inclusion, agri-finance, and related sectors. Team investment metrics: INR 500 crore AUM managed by the team historically, with investments in Fusion Finance, Namdev Finvest, Annapurna, Hand-in-Hand India, and other Bharat-focused companies. The fund also runs a public markets / derivatives strategy led by R J (Principal, Public Markets), combining private equity with true-hedging approaches using derivatives as genuine risk management tools.
Hegdinvst's investment philosophy is built around two pillars — Pursue Growth and Preserve Value — applied to businesses serving India's underserved majority ('Bharat'). The firm backs real entrepreneurs with disciplined fundamentals, rejecting FOMO-driven investing in favour of relentless value creation and ruthless valuation discipline. Key principles: (1) Back real Bharat entrepreneurs — founders building businesses with strong fundamentals, resilience, and capacity to scale for underserved Indian communities; (2) Valuation discipline — refuse to overpay; every investment must be grounded in rigorous financial analysis and real value creation; (3) True hedging — unlike most investors who treat F&O as speculative tools, Hegdinvst uses derivatives as genuine portfolio protection instruments to preserve investor gains at every stage; (4) Long-term value creation — patient capital with a founder-empathy orientation, providing strategic support beyond capital. ESG is integral to the investment process.
Aditya Bhandari
FMManaging Partner & Fund Manager
Aditya founded Hegdinvst in 2025. A Chartered Accountant with 16 years at Incofin Investment Management, he built a top-quartile private equity track record backing Bharat-focused entrepreneurs. He champions true hedging strategies influenced by chess and derivatives theory, backing founders who challenge the status quo for India's underserved majority. Prior investments include Fusion Finance (Devesh Sachdev), Namdev Finvest (Jitendra Tanwar), Annapurna (Dibyajyoti Pattanaik), Hand-in-Hand India (Kalpana Sankar), and others.
Aarave S Ahuja
FMInvestment Manager, Private Equity
From private debt to private equity, Aarave's journey reflects curiosity, adaptability, and analytical depth. A Loyola College graduate and CFA Level 1 cleared.
Aayush Singhvi
FMInvestment Manager, Private Equity
Career spanning venture capital to private equity focused on businesses defined by grit and strong fundamentals. Guided by disciplined analysis and sharp instincts.
Abhijeet Mohnot
FMInvestment Manager, Private Equity
Expertise across FP&A, investor relations, and strategy. Background at Deloitte and capital markets, specializing in turning complex data into actionable investor insight.
R J
Principal, Public Markets
Has explored derivatives since 2009 and has mastered the use of derivatives as a true hedge instrument (as opposed to speculative tools). Pioneered commercial cable television systems in his hometown.
Siddarth S Ahhuja
Investment Analyst, Public Markets
Background in competitive cricket across India and the UK. Brings teamwork, discipline, and collaborative mindset to investment analysis.
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Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Niyati Sanghvi
Fund Controller & Compliance Officer; SEBI Contact Person
Blends academic excellence, accounting experience, and regulatory mastery. Prior roles at Ernst & Young, Incofin Investment Management, and Legal Force RAPC, delivering high-precision financial control, investor reporting, and compliance frameworks for complex portfolios.
Sanjay Kumar
Head of Operations & Finance
Experienced operations and administration leader with over 15 years at an international investment firm. Plays a key role in ensuring smooth organizational operations through administrative frameworks, vendor management, and internal coordination.
Yeshwanth Kumar
Risk Manager
Over a decade of financial services experience. At Fusion Finance, led credit operations for 50+ branches. Leadership style fuses analytical rigour and customer-first thinking.