Our Story
Pioneers of Systematic
Investing in India
ActiveAlpha is a Mumbai-based investment firm specializing in systematic, factor-based equity strategies focused exclusively on Indian public markets. Founded in 2012 by Raghav Kapoor and Vineet Sachdeva, the firm has built a 13-year live track record that places it in the top decile of all India fund managers.
With over 50 combined years of experience across SAC Capital, Goldman Sachs, D.E. Shaw, McKinsey, Harvard, Stanford, and Oxford, the founders brought world-class quantitative expertise to a market that was — and largely still is — dominated by discretionary, fundamental approaches.
Today, ActiveAlpha manages capital across multiple vehicles: the INDQ ETF on Nasdaq (the first systematic India equity ETF in the US), SEBI-registered PMS strategies, a Mauritius-domiciled offshore fund, and white-label partnerships with global asset managers.
At a Glance
Our Founders
Raghav Kapoor
Co-Founder & Chief Investment Officer
Education
Harvard Business School (Baker Scholar), Stanford University, University of Oxford
Experience
- SAC Capital Advisors — Global equity portfolio management
- Goldman Sachs — Investment Banking Division
- McKinsey & Company — Strategy consulting
Factor investing in India is not about importing Western models. It's about understanding India's unique market microstructure and building from the ground up.
Vineet Sachdeva
Co-Founder & Chief Executive Officer
Education
IIM Lucknow, Indian Institute of Technology
Experience
- D.E. Shaw — Co-Head India, managing ~$2 billion AUM
- IDFC Private Equity — Senior investment professional
- Citibank — Investment banking and structured products
We've spent 15 years building the most comprehensive factor dataset for Indian equities. That data moat is our enduring competitive advantage.
Investment
Philosophy
Our philosophy is built on four pillars that have guided every decision since our founding in 2012.
Conviction Without Compromise
We pioneered factor investing in India 15 years ago when the market was skeptical. We never changed course. Our conviction is rooted in data, not sentiment.
Systematic Discipline
Every investment decision is driven by our quantitative framework. We remove emotion, bias, and noise from the investment process.
India-First Customization
We don't import Western factor models. We build from India's unique market dynamics — promoter holdings, government policy cycles, and monsoon-driven sectors.
Radical Transparency
Our strategies are rules-based and fully transparent. Investors always know exactly what they own and why.
13 Years of Conviction
Founded
ActiveAlpha established in Mumbai with a focus on systematic factor-based investing in Indian equities.
First Institutional Mandate
Secured first institutional mandate from a global asset manager, validating the systematic approach.
Offshore Fund Launch
Launched Mauritius-domiciled offshore fund for international investors seeking India exposure.
Middle East Expansion
Established joint venture partnership with a leading Middle Eastern financial institution.
US ETF Filing
Filed with the SEC for the Pacer ActiveAlpha India Quality ETF (INDQ) on Nasdaq.
INDQ ETF Launch
INDQ launches on Nasdaq — the first systematic India equity ETF in the United States.
Global Scale
Expanding partnerships with global asset managers and scaling AUM across all vehicles.