SEBI Grants Approval to Deepak Shenoy’s Capitalmind to Start Mutual Fund Operations

Bengaluru-based Capitalmind Financial Services, a financial advisory and portfolio management company started by Deepak Shenoy, has received final approval from SEBI (the stock market regulator) to launch mutual fund services for investors, according to a statement on April 14, 2025.

Capitalmind Mutual Fund will first focus on launching active equity schemes in the next few months. Later, it plans to add more options like debt, hybrid, and multi-asset schemes.

The newly formed Capitalmind Asset Management Private Limited (Capitalmind AMC) will launch actively managed funds that aim to stand out from others, the company said in a statement. It plans to use proven strategies from its successful portfolio management services (PMS), like Adaptive Momentum and Surge India, which gave a 28.35% return (after fees) over five years ending March 31, 2025. The company added that its mutual fund products will be based on strong data-driven research, well-defined processes, careful risk control, and clear communication with investors.

Capitalmind is joining India’s mutual fund industry, which has fewer than 50 companies. It describes itself as a modern, tech-focused company ready to bring fresh ideas and challenge the usual way things are done. The company also said it has a strong history of performance and has already attracted a large number of investors.

Founder and CEO Deepak Shenoy called SEBI’s approval a major milestone, saying it supports their goal of being transparent, focused on investors, and driven by data. “For years, we’ve worked to make investing simpler using well-planned strategies. Starting Capitalmind Mutual Fund is the next step in our journey. It will help us reach and support millions more Indians in meeting their financial goals with easy-to-use, rule-based investment options,” the company said.

The company, founded by Deepak Shenoy, currently manages over Rs 2,000 crore in assets for more than 1,400 clients in its Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) programs.