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Optimal Allocation. Disciplined Returns.
Kelly Gamma Fund is a SEBI-registered Category III Alternative Investment Fund (reg. IN/AIF3/15-16/0185), registered on November 13, 2015 and managed by Kelly Gamma Fund Managers Private Limited — an Ahmedabad-based independent investment management firm founded by Sharvil Parikh. The fund is headquartered at 1007/1008, 10th Floor, Shapath V, Opp. Karnavati Club, Near Chimanbhai Patel Institute, S.G. Highway, Ahmedabad 380051. The name 'Kelly Gamma' derives from the Kelly Criterion (a mathematical formula for optimal position sizing, developed by John L. Kelly Jr.) and 'Gamma' (the options Greek representing rate of change in Delta), reflecting the fund's quantitative and derivatives-aware investment philosophy. Kelly Gamma invests in Indian listed equities and equity-related instruments, using a hybrid approach combining quantitative portfolio models, value investing principles, and technical analysis. The fund has made early-stage startup investments including PurpleEMR (healthcare tech, seed round 2020) alongside Folly System and iCreate. Sharvil Parikh is the sole named investment professional and founding manager.
Kelly Gamma Fund's investment philosophy is grounded in the intersection of quantitative portfolio theory and fundamental value investing. Sharvil Parikh's educational background in operations research and decision-making theory (MS Operations Research & Industrial Engineering, UC Berkeley) uniquely qualifies the firm to apply mathematical optimisation frameworks — including the Kelly Criterion for position sizing and options-inspired risk management — to Indian equity markets. The fund's primary interests include capital allocation using portfolio models and strategies, identifying underpriced opportunities, and applying technical criteria to fundamentally sound businesses and sectors. The fund has a special interest in evaluating early-stage/startup companies where conventional revenue and profit data is not available — an area where Parikh's background as a successful Silicon Valley ERP entrepreneur brings domain differentiation.
Sharvil Parikh
FMFounder & Fund Manager
Sharvil Parikh is the Founder and Fund Manager of Kelly Gamma Fund. He has a unique blend of expertise in portfolio management, investment analysis, and technology business management. For over ten years, he has actively managed investments across portfolio models, quantitative strategies, and early-stage startups. His primary interests include capital allocation using various portfolio models, identifying underpriced opportunities, and applying technical criteria to fundamentally sound businesses. Prior to full-time investing, he successfully founded and managed an ERP and software services business in Silicon Valley, California, giving him a deep understanding of technology startups. He holds a Master's Degree in Operations Research and Industrial Engineering from the University of California, Berkeley, and a Bachelor of Engineering in Mechanical Engineering from L.D. College of Engineering, Ahmedabad.
Neha Sheth
Investment Team Member
Neha Sheth is part of the Kelly Gamma investment team. She is the current President of the Ahmedabad Chapter of TiE (The Indus Entrepreneur) and CEO of Musikaar. She has more than 18 years of experience in all aspects of software development, having worked for over a decade in Silicon Valley at startups and large companies including BMC Software, gForce, and McAfee. Her strength lies in identifying and evaluating innovations and determining their viability and revenue and profit potential in the Indian economy.
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