OUR TEAM
Our team and those of our affiliates have over fifty years of combined experience in India investing and investment research. We bring a range of professional experience in fields such as private equity, investment banking, equity research, management consulting, corporate management and business journalism to inform a far-reaching, fundamental approach to investment.
We also employ leading global organizations for fund administration, custody and audit.

Dan Tennebaum
Director, ICM and ICF

Dr. Jon Thorn
Director, ICF

Uday Saripalli
CFO and COO

Piyush Goyal
Vice President

Saket Yadav
Vice President

Parang Trivedi
Information Analyst

Tanisha Chandhok
Information Analyst

Shanskar Singhal
Information Analyst

Mahesh Ambokar
Vice President, Technology

Asha Salokhe
Information Technology Analyst

Waheedali Shaikh
Manager, Administration
Our Directors

Kapil Dev Joory
Director, ICF

Nancy Orr
Director, ICF

Win Bennett
Director, ICM

Couldip Lala
Director, ICF

Ameet Parikh
Director, ICR

Christopher Brader
Director, ICM

Francois Delalande
Director, ICF

Raju Jaddoo
Director, ICM

Sudesh Lala
Director, ICM
RESEARCH Research is the core of our investment process. It takes us to nearly every corner of India, from executive offices and government conclaves to factory floors, construction sites and agricultural cooperatives. India’s more than 3,000 publicly traded companies are not always well understood by traditional market intermediaries, nor is comprehensive data readily available from secondary sources in many cases. As a result of these inefficiencies, interactions with customers, competitors, suppliers and regulators can yield a genuinely distinctive view of a business. Comprehensive research allows us to identify opportunities that are not widely understood and construct a concentrated, high-conviction and non-consensus portfolio.
DATABASE
Compass is India Capital's proprietary research application, which covers over 3,000 listed Indian companies. Compass, which is maintained by an internal IT team, is a core component of our research process. We developed Compass to address the lack of comprehensive, reliable financial data in India. The application stores and organizes internal research, third-party documents and portfolio information, facilitating detailed, fundamental analysis of Indian companies and industries. It is not, however, used for selecting or executing trades. Compass is used exclusively by our team and by our affiliates.
CURRENT RESEARCH




RESPONSIBLE INVESTING
The India Capital Fund has had an ethical investment policy for more than 28 years that mandates, among other things, refraining from holdings in armaments, tobacco and alcohol.
We believe that approach has enhanced our focus on sectors central to India’s responsible growth and strengthened investment performance. Portfolio companies include:
Renewable Energy. One of India’s largest green energy lenders, financing 17 thousand megawatts of renewable power capacity.
Job Creation. Two of India’s four largest private sector job creators, with more than 700,000 total employees.
Financial Inclusion. Institutions serving more than 150 million newly banked households and 14 million farmers.
AWARDS
PHILANTHROPY
We and our affiliates are pleased to support a number of organizations that work to improve education, society and the environment in India and Mauritius.

Ajit Deshpande Medical Center
The Ajit Deshpande Medical Center serves more than 24,000 low income patients per year, providing free care in the areas of pulmonology, dermatology, dentistry and more.
Mauritian Wildlife Foundation
The Mauritian Wildlife Foundation assists in the conservation and preservation of Mauritius’ endangered plant and animal species. The Foundation’s long-term aim is to recreate lost ecosystems by saving some of the rarest species from extinction and restoring native forests.
The Cheshire Homes
The Cheshire Homes provide residential care to men and women with physical and learning disabilities.