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Investcorp India Asset Managers
Investcorp India Asset Managers was established in 2018 as the onshore Indian investment vehicle of Investcorp, the Bahrain-headquartered alternative asset...
Investcorp India Asset Managers
Investcorp India Asset Managers was established in 2018 as the onshore Indian investment vehicle of Investcorp, the Bahrain-headquartered alternative asset manager founded in 1982. The platform marks Investcorp's formal entry into direct India private equity, a market the parent firm had previously accessed only through global co-investments. Co-CEOs Rishi Kapoor and Gaurav Sharma jointly oversee the Mumbai office, reporting into Investcorp's global leadership while operating with a mandate tailored to India's mid-market. The firm pursues control-oriented and significant-minority growth investments across consumer, technology, healthcare, and financial services. Confirmed portfolio companies include Citykart, a rural-focused value retailer; NDR InvIT, an infrastructure investment trust; and Wingreens Farms, a packaged-foods platform. Sectors reflect the domestic consumption and digital transformation themes Investcorp publicly identifies as structural tailwinds. The firm typically writes equity cheques between $15 million and $50 million per deal, with capacity to syndicate larger tickets alongside co-investors from the Gulf's sovereign and family-office networks. Geographic focus remains pan-India, with deal activity concentrated in Mumbai, Bengaluru, and the National Capital Region. September 2023: Investcorp India closed its second tranche of fundraising, bringing total capital anchored for India to approximately $400 million across its first two vintage vehicles. The platform operates alongside Investcorp's global real estate, private credit, and secondary-market strategies, all of which have selectively allocated to Indian assets. The India team's day-to-day decisions remain ring-fenced under Kapoor and Sharma's investment committee, a structure that ensures local origination speed while retaining access to Investcorp's Bahrain-based capital formation team. Investcorp India's structural advantage lies in its parent's balance-sheet patience. Unlike standalone India-focused GPs that face institutional redemption pressures, the platform draws on a Bahraini treasury that manages intergenerational wealth and accepts longer hold periods. That architecture allows the Mumbai team to pursue value-creation plans that span seven to ten years rather than the standard five-year private-equity window, a feature that distinguishes the firm in negotiations with founder-led Indian businesses.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Mumbai, India
Principals
Rishi Kapoor
Co-Chief Executive Officer
Gaurav Sharma
Co-Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Investcorp India Asset Managers?
Rishi Kapoor and Gaurav Sharma serve as Co-Chief Executive Officers and jointly chair the India investment committee. Both report to Investcorp's global investment leadership in Bahrain, but the Mumbai-based committee retains autonomy over deal origination, diligence, and exit timing within the India mandate.
How is Investcorp India Asset Managers related to the parent entity in Bahrain?
It is a fully owned onshore Indian platform of Investcorp Holdings, the Bahrain-listed alternative asset manager. The Indian entity was incorporated in 2018 as the group's primary vehicle for direct India private equity. It operates under its own local management but draws on Investcorp's global fundraising and investor-relations infrastructure.
What investment stages and cheque sizes does the firm typically target?
The firm pursues growth-stage and late-stage control or significant-minority investments. Typical equity tickets range from $15 million to $50 million per transaction. For larger capital requirements, the platform can syndicate co-investment alongside limited partners from the Gulf region's institutional and family-office base.
Does Investcorp India participate in fund commitments or only direct deals?
The platform's primary mandate is direct private equity into Indian companies. Its parent Investcorp participates in global fund commitments and secondaries, and the Indian team may occasionally co-invest alongside those vehicles, but the onshore Mumbai operation itself is structured as a direct-deal platform rather than a fund-of-funds.
How does the firm source proprietary deal flow in India?
The firm relies on an origination network built around its parent's brand recognition among Gulf-based family offices with India exposure, combined with Kapoor and Sharma's domestic relationships in the mid-market investment-banking and promoter communities. Investcorp's long-dated capital also attracts family-business owners seeking a patient partner rather than a timeline-driven sponsor.
Which sectors does Investcorp India target, and does it avoid any areas?
The firm targets consumer, technology, healthcare, and financial services—sectors Investcorp has publicly identified as aligned with India's domestic consumption and digitization trends. It has not marketed an explicit negative list, but its deal volume suggests it avoids early-stage venture capital, heavy manufacturing, and commodities, focusing instead on cash-flow-positive mid-market businesses.
Does Investcorp India maintain any philanthropic structures or separate ESG mandates?
The India platform operates under Investcorp's group-wide ESG framework but has not disclosed a dedicated India-focused philanthropic vehicle. Investcorp Holdings participates in Gulf-based community initiatives, and its annual reports reference ESG integration across portfolio companies without specifying local Indian foundation activity.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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