We use cookies for analytics and ads to improve your experience. You can accept or decline. See our Privacy Policy.
Targeting Stressed Assets with Untapped Potential
Managed by Whitespace Alpha
SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.
Whitespace Alpha – Special Situations Fund (SEBI Reg. IN/AIF1/23-24/1270) is a Category I AIF registered in May 2023, managed by Whitespace Alpha Transactions Private Limited (CIN: U70200TS2023PTC171496) — the same manager entity as the sibling Category III AIF (IN/AIF3/19-20/0729). The Special Situations Fund (SSF) targets mid-market and SME-tier stressed and distressed assets in India — companies requiring turnaround capital, operational restructuring, or resolution under the Insolvency and Bankruptcy Code (IBC). The fund is led by fund managers Viki Badani (IIM Lucknow, CFA) and Rohit Lokareddy (ISB MBA), both specialists in distressed debt, insolvency resolution, and investment banking. Rohit is credited with structuring the MTAR Technologies IPO and leading the Viceroy Hotels IBC resolution. The fund's approach involves identifying stressed assets with untapped potential at the mid-market and SME tier, deploying turnaround capital, and driving value creation through operational enhancements and strategic restructuring before exiting. As a Category I AIF, the SSF benefits from a regulatory pass-through tax structure, making it suitable for family offices and institutional investors seeking exposure to India's growing distressed asset opportunity.
Rohit Lokareddy
FMInvestment 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
FMCEO & 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
FMFund 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.
Krishna Milan Rao Kalvakuntla
Co-Founder
Krishna Milan Rao (also known as Krishna Kalvakuntla Milan Rao) is the co-founder of Whitespace Alpha and the SEBI-registered contact person for the fund. He built Whitespace Alpha after exiting his first technology venture (Big Bang Boom Solutions Pvt Ltd). He holds an MBA from IIM Lucknow and has deep expertise in correlation modelling and quantitative strategy development. He previously had roles at Equal Identity and Helex Bio.
No insights published yet.
Investments in AIFs carry market and credit risk including possible loss of capital. Past performance does not indicate future returns. Information shown is sourced from the issuer's PPM and SEBI filings — confirm against the latest PPM before committing. wisefolio is an information platform; it is not registered with SEBI as an investment adviser, portfolio manager, or distributor. By using this page you accept our terms and privacy policy, including the self-attestation that you are eligible to view AIF marketing material under SEBI rules.
View the investment manager profile with all PMS strategies and AIFs under Whitespace Alpha.