Deepak Shenoy's Capitalmind gets Sebi nod to launch mutual fund services

Founder and CEO Deepak Shenoy called the Sebi nod ‘a watershed moment’, validating its commitment to investor-first, transparent, and data-driven approach.

Bengaluru-based financial advisory and PMS provider Capitalmind Financial Services, founded by Deepak Shenoy, has received the final approval from capital market regulator Sebi to offer mutual funds to investors, a statement said on April 14.

Capitalmind mutual fund will initially aim to launch active equity schemes in the coming months, and later expand its offering into debt, hybrid and multi-asset schemes as well.

The newly-formed Capitalmind Asset Management Private Limited (Capitalmind AMC) will introduce actively managed funds, designed for differentiation, the statement said. "It plans to leverage proven frameworks from its successful PMS strategies, including Adaptive Momentum and Surge India (which delivered a 28.35% post-fees TWRR over five years ending Mar 31, 2025). The AMC's offerings will be rooted in robust quantitative research, disciplined processes, rigorous risk management, and clear investor communication," the company said.

Capitalmind is entering India's concentrated mutual fund industry which has less than 50 players, as a ‘dynamic, tech-forward AMC poised to challenge the status quo’. The advisory said that it is well-positioned with ‘established track record and significant existing reach’.

Founder and CEO Deepak Shenoy called the Sebi nod ‘a watershed moment’, validating its commitment to investor-first, transparent, and data-driven approach. “For years, we've focused on simplifying investing through disciplined strategies. Launching Capitalmind Mutual Fund is the natural evolution of our mission, enabling us to empower millions more Indians to achieve their financial goals with accessible, rules-based investment products,” said the advisory.

"This is a major milestone in bringing our quantitative data-driven approach to all investors," said Deepak Shenoy.

Folks, the wait is over! Capitalmind Mutual Fund has officially received SEBI approval. This is a major milestone in bringing our quantitative data-driven approach to all investors. Exciting times, and we look forward to launching our first scheme soon!Make your money work pic.twitter.com/OF4sw80Jba
Deepak Shenoy (@deepakshenoy) April 14, 2025

Capitalmind’s COO Vashistha Iyer said, "We always envisioned mutual funds as the ideal vehicle to deliver sophisticated, rules-based strategies efficiently to retail investors, offering distinct operational and tax advantages… Securing the final mutual fund registration just over seven months after the in-principle approval highlights our team's execution capability and readiness to serve investors."

Anoop Vijaykumar, Head of Equities at Capitalmind AMC, added, "Investing can seem complex, but our philosophy is built on clarity and evidence. We combine statistical rigour with a deep understanding of market context, embedding risk awareness into every step. The mutual fund structure offers the privilege and responsibility to serve a vast investor base. We are committed to being worthy stewards of their trust by continuously refining our quantitative methods and prioritizing long-term investor outcomes."

The Deepak Shenoy-founded company currently oversees assets worth over Rs 2,000 crore for more than 1,400 Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) clients.