Alchemy - Leaders of Tomorrow
From the research desk
Spotting market leaders before the market does.
Alchemy Leaders of Tomorrow is Alchemy Capital's Mid/Small Cap AIF strategy, built by a team with over two decades of experience in Indian equities. It invests in businesses with the potential to emerge as market leaders, companies operating in large, evolving opportunity sets, backed by scalable models, durable competitive advantages and management teams with strong governance and capital discipline.
The aim is to invest ahead of market leadership, not follow it, through a broad company universe screened for long term structural themes. Ideas are generated through company interactions, industry networks, channel checks, and macro research, then filtered through detailed fundamental analysis and analysis before entering the portfolio.
Future facing, not backward looking
Seeks to identify and invest in businesses before they become tomorrow's leaders, rather than owning names that have already led the last cycle.
A differentiated opportunity set
Extends beyond traditional listed equity investing by identifying emerging businesses benefiting from structural shifts, participating across multiple stages of a company's evolution.
Built for the next leg of Mid and Small Cap growth
Positioned to benefit from a broadening opportunity set in mid and small caps, focused on businesses with sustained earnings growth and reasonable valuations.
Fund Managers
Mr. Hiren Ved
Director And CIO, Alchemy
Hiren Ved, an equity market veteran, serves as the Whole-Time Director, and CIO at Alchemy Capital Management where he has been leading the firm’s Asset Management business. With over 30 years of experience in the Indian equities market, Hiren has developed a sustainable long-term investment philosophy based on fundamental research. He is known for his deep sector knowledge, bottom-up research skills and stock picking abilities. Hiren manages and advises funds over USD 931 million (as on June 30, 2023) across domestic PMS and offshore institutional mandates for Alchemy Capital. He holds a graduate degree in Accounting from Mumbai University and a post-graduation in Management & Cost Accounting from The Institute of Cost Accountants of India.
Managing AUM₹8,237 Cr
Himani Shah
Co-fund Manager, Alchemy
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Managing AUM₹475 Cr
Portfolio Details : Where the money actually sits
Sector allocation vs. benchmark
Asset weight by sector
Alchemy Capital Management Pvt LtdNifty 500
Financial Services
26.68%
32.27%
Capital Goods
19.55%
6.20%
Consumer Durables
13.22%
2.75%
Consumer Services
9.02%
3.27%
Healthcare
7.66%
6.47%
Chemicals
6.88%
1.87%
Information Technology
4.86%
6.73%
Services
4.86%
1.86%
Utilities
4.51%
Fast Moving Consumer Goods
3.19%
5.88%
Construction
2.25%
3.02%
Automobile and Auto Components
1.34%
7.35%
As on 31 Jul 2026
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