# Nine Rivers Capital

Nine Rivers Capital is a Private Equity based in Mumbai, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** nineriverscapital.com
- **LinkedIn:** https://www.linkedin.com/company/nine-rivers-capital

## Regulatory record

- **Reports private funds:** No

## About

Nine Rivers Capital (NRC) is a boutique investment management firm offering SEBI-registered Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs) for HNIs and Family Offices. We apply private-equity rigor to public markets to create long-term value through disciplined, research-driven investing.

## Sectors

- Industrial Tech
- Healthcare Services
- FinTech
- Enterprise Software
- Media & Entertainment
- Consumer Discretionary

## People

- Sandeep Daga — Founder, MD & CIO
- Sandhya Kabra — Finance Professional
- Chirag Karia — Business Head
- Pragati Khadse — Investment Research and Portfolio Management
- Kunal Sabnis — Equities Analyst
- Vinay Khatu — Transactional Advisor
- Kunal Jadhwani — Analyst and Fund Manager
- Rahil Merchant — Buy-side Analyst
- Rakesh Wadhwani — Buy-side Analyst
- Vallabh Daga — Research Analyst
- Mustafa Arif — Equity Research and Portfolio Management
- Nitin Jain — Lead, Pharma, Healthcare and Chemicals/Industrials Advisory
- Pratik Singhi — Corporate Finance and Valuations
- Satyajit Chakraborty — Investment Banking and Management Consulting
- Roshni Vaid — Admin, HR, and CRM
- Narayan Nimkar — Operations

## Questions

### Who runs investment decisions at Nine Rivers Capital?

Sandeep Daga is the Founder, Managing Director, and Chief Investment Officer. He sets the investment philosophy and leads the asset management team, drawing on his private-equity background and a long-term, research-heavy approach. The firm does not publicly disclose a separate investment committee.

### How does Nine Rivers Capital source proprietary deal flow?

The firm runs a parallel corporate advisory business that executes M&A, capital raising, and strategic advisory for mid-market companies. This arm, led by dealmakers like Nitin Jain and Pratik Singhi, gives the investment team early access to unlisted and Pre-IPO opportunities before they appear in public markets.

### Does Nine Rivers Capital participate in fund commitments or only direct deals?

The firm invests directly into public equities through its PMS strategies and into unlisted/Pre-IPO companies through its AIFs. It does not operate as a fund-of-funds, and its publicly available materials do not mention commitments to external PE or VC vehicles.

### What investment stages does Nine Rivers Capital typically target?

In public markets, the ASCO strategy focuses on early-stage small-cap discovery, while the AMP strategy covers companies across market caps. In private markets, the closed SME Fund I targeted businesses at an earnings inflection point, and the Rising India Fund II pursues Pre-IPO companies. The advisory practice spans Series A to M&A.

### Which sectors does Nine Rivers Capital explicitly avoid?

The firm does not publish an explicit exclusion list. Its stated sector experience includes industrials, healthcare, technology, fintech, digital media, and consumer discretionary, with no mention of commodities, infrastructure, or real estate in its public strategy descriptions.

### How is the corporate advisory business separated from the investment arm?

The advisory team operates under distinct leadership — Nitin Jain, Pratik Singhi, and Satyajit Chakraborty lead sector-focused deal mandates — while the asset management team runs the investment strategies. The firm presents the two functions as complementary, with the advisory practice feeding origination, but does not detail formal information-barrier procedures.

## Related profiles

- [Nine Realms](https://altss.com/profile/nine-realms)
- [Nineyards Equity](https://altss.com/profile/nineyards-equity)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/nine-rivers-capital

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