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Investing Behind Transformative Changes
Managed by Vaikarya
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 & Partner
Avnish Tiwari is the CIO and founding Partner of Vaikarya. Before Vaikarya, he was the Managing Director at East Bridge Capital, leading its India office. Before East Bridge, he worked with Franklin Templeton and Fidelity, focusing on investments across various sectors and geographies. He holds an MBA 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 & Partner
Avnish Burman is a Senior Investment Professional and Partner at Vaikarya. Before Vaikarya, he was a Principal at East Bridge Capital. Before East Bridge, he worked with IIFL, Dr. Reddy's, and Biocon. He holds an MBA from the Indian School of Business and a B.Tech. from the Indian Institute of Technology, Delhi. He serves as the Grievance Officer (DPDP) for the fund.
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Rahul Kumar
Senior Investment Professional
Rahul Kumar is a Senior Investment Professional at Vaikarya. Before Vaikarya, he was a senior investment analyst at Singular Capital. Prior to that, he worked with ArthVeda Fund, CIMB, Jefferies, and Tata Motors. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.
Gaurav Shetty
Chief Operating Officer
Gaurav Shetty is the Chief Operating Officer at Vaikarya. He previously worked with Treelife, and prior to that with PwC. He is a Chartered Accountant and holds a Bachelor of Law (LL.B) degree. He serves as the Accessibility Nodal Officer for the fund.
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Prashant Kadam
Data Analyst
Prashant Kadam is a Data Analyst at Vaikarya. Before Vaikarya, he worked with Decimal Point Analytics. He holds a B.E. from D.J. Sanghvi College of Engineering, Mumbai.
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