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Whitespace Alpha

Navigating Markets. Delivering Alpha. — Win More. Lose Less.

IN/AIF3/19-20/0729Cat III

Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.

Overview

About

Whitespace Alpha (SEBI Reg. IN/AIF3/19-20/0729) is a SEBI-registered Category III AIF headquartered in Hyderabad, managed by Whitespace Alpha Transactions Private Limited (CIN: U70200TS2023PTC171496), with directors Krishna Kalvakuntla Milan Rao and Puneet Sharma. Founded in 2019 by Krishna Milan Rao, who built the platform after exiting a technology venture, and Puneet Sharma (IIM Lucknow alumnus and former PwC M&A consultant), the fund operates a suite of quantitative, market-neutral, derivatives-based investment strategies across equity and debt. The fund's award-winning Equity Plus strategy invests in NIFTY 50 stocks in proportion to the index, augmented by proprietary market-neutral options strategies that target an additional ~12% return on top of the underlying. Since inception, it has beaten the market every month irrespective of market direction. In May 2023, Whitespace Alpha secured an additional Category I AIF licence for a Special Situations Fund (SSF), targeting distressed assets and stressed debt. The platform also operates internationally via a GIFT City IFSCA-registered fund, providing NRI and foreign investor access. Whitespace Alpha is based at Madhapur, Hyderabad (500081), with the SEBI AIF registered address at Banjara Hills (500034).

Investment Philosophy

Whitespace Alpha's core philosophy is 'Win more. Lose less.' — a risk-first investment mandate executed through quantitative, model-driven strategies that deliver low-volatility, market-neutral returns. The firm generates alpha by identifying statistical correlations among stocks and exploiting implied volatility differentials between individual stocks and the index, using proprietary derivative models. This approach is designed to generate consistent, compounding returns independent of market direction, making it attractive to investors seeking genuine alpha uncorrelated with the Nifty 50. Deep backtesting and research on proprietary capital underpin all deployed strategies, with a strong emphasis on risk management and downside protection.

Team— 7

Rohit Lokareddy

Investment Manager, Special Situations Fund

Rohit Lokareddy is Investment Manager for Whitespace Alpha's Special Situations Fund and is the SEBI-registered contact person. An MBA graduate from ISB (Indian School of Business), he is a turnaround specialist who structured the MTAR Technologies IPO and led the Viceroy Hotels insolvency resolution under the IBC framework.

Puneet Sharma

CEO & Fund Manager (Group)

Puneet Sharma is CEO and Fund Manager of Whitespace Alpha. An IIM Lucknow MBA and engineer by training, he previously worked in M&A and valuation consulting at PwC. He is a quant-driven strategist who leads Whitespace Alpha's investment strategy and is its primary media spokesperson, regularly quoted in Moneycontrol, Mint, Economic Times, and Financial Express.

Viki Badani

Fund Manager, Special Situations Fund

Viki Badani is Fund Manager for the Whitespace Alpha Special Situations Fund. An IIM Lucknow alumnus and CFA charterholder with 10+ years in distressed debt and investment banking, he specialises in stressed asset identification, credit underwriting, and resolution.

Praveen Dwarakanath

Head of Fund Strategy

Praveen Dwarakanath is Head of Fund Strategy at Whitespace Alpha. An IIM Lucknow MBA, he co-built the Whitespace Alpha platform after exiting his own tech venture and brings deep expertise in statistical correlation modelling.

Shiva Subramaniam

Head of Investment Strategy

Shiva Subramaniam is Head of Investment Strategy. A graduate of IIT-BHU and IIM Ahmedabad, he is a former private equity professional turned multi-asset tactician.

Registration

SEBI Registration

SEBI-registered

Reg. NumberIN/AIF3/19-20/0729

VintageSept 2019 · 7 yrs old

Valid ToPerpetual

Contact PersonKRISHNA MILAN RAO KALVAKUNTLA

AddressPlot no 70, HUDA Heights, Road No 12 Banjara Hills, Hyderabad, Telangana, 500034

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Disclaimer

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