Bhupinder Singh

Founder & Group CEO

Bhupinder Singh founded InCred Group in 2016, with InCred Finance starting in March 2016, InCred Capital- Wholesale Banking starting in September 2018, InCred Wealth starting in December 2019, and InCred AMC starting in September 2020. He has a global track record of identifying and building successful businesses across Fixed Income, Credit, Equities and Investment Banking.

Prior to InCred, he worked at Deutsche Bank for 16 years in various capacities in London and Singapore. Most recently, he co-headed the Corporate Banking and Securities (‘CB&S’) of Deutsche Bank for the Asia Pacific region, based out of Singapore. In this capacity, he managed Deutsche Bank’s Fixed Income, Equities and Investment Banking divisions and was a member of the global CB&S executive committee.

He was also the Head of Corporate Finance division for Deutsche Bank in the Asia Pacific region managing the bank’s corporate coverage, investment banking, capital markets, advisory and treasury solutions businesses.

Prior to his move to Asia, he was the Global Head of Deutsche Bank’s Fixed Income Structuring business based in London, covering all aspects of fixed income product structuring.


CEO and CIO,
Asset Management

Mrinal has over 18 years of rich experience in Investment Management & Equity Research. Formerly Deputy CIO – Equities of ICICI Prudential AMC, among the top fund management houses in India, where he was instrumental in setting up research processes, designing product strategy as well as talent development.

Mrinal has actively managed assets of INR 25,000 crores, including some of the largest flagship funds for ICICI Prudential. Under his management, the Value Discovery fund grew from INR 1,500 crores to INR 20,000 crores.

Mrinal has a track record of delivering industry-leading returns through market cycles and has been awarded and recognized at various industry forums & consistently rated highly by Morningstar.


Alternative Credit Strategies

Saurabh has 20+ years of experience across the credit and financing business in Asia and has been part of the founding team at InCred Group since 2016. Saurabh is the CIO for alternative credit strategies for InCred Capital and also looks at the SME lending business at InCred Finance, the NBFC arm.

Prior to joining InCred, Saurabh was a Managing Director at Deutsche Bank leading the private financing and performing credit business for India and South East Asia. He was running a team of 25 analysts and structures split across India, Singapore and Hong Kong and was responsible for direct lending, leverage and acquisition financing and Holdco financings. Prior to this, Saurabh worked for Deutsche Bank in Hong Kong as part of their private equity business focused on Indian markets. He started his career at ICICI Securities in their investment banking services. Saurabh has a post-graduate diploma in management from IIM Bangalore, is a CFA charterholder and has an undergraduate in commerce and accounting from St Xaviers College, Kolkata.


Hedge Fund Strategies

Rishi has over 21 years of experience in the Indian financial markets heading both sell-side and buy-side businesses in the public equity markets space. He has a lot of market firsts to his credit, being the pioneer in options strategies and managed futures research for India in his institutional broking days from 2004-2006 to starting and running the first quantitative hedge fund in India in 2007 & the first systematic managed futures fund in Asia in 2011 at ProAlpha, as part of US-based Monsoon Capital where he has had many global institutional investors offshore and some of the biggest Indian family offices onshore as investors and clients.

Rishi has run various hedge fund strategies across India and Asia with a focus on quantitative and systematic strategies and has won many global awards in the past for running the Best New Asian Fund and Best Managed Futures Fund in Asia besides one of the quant Funds being managed by him being ranked in the Top 10 funds globally in its category in 2020. Rishi is currently the Managing Partner & CIO for the Hedge Fund Strategies of Alternatives business at InCred. His prior stint was at Avendus where he was the Managing Director & CIO of Quant Strategies within their hedge fund unit and helped Avendus launch a couple of quant-based long-short strategies in a short span of time.

Rishi has been a speaker at many global quants and hedge fund conferences like Quant Invest in Paris, Hedge Funds Asia in Hong Kong, MFA Conference in Miami, VCCircle’s PE/VC Summit in Mumbai, and AIWMI’s Alternatives Summit in Mumbai. Rishi’s comments and interviews are regularly featured on various television media like CNBC and ET Now as well as various leading financial newspapers and magazines like Economic Times, Business Line, Outlook Money, and Business India. He is one of the most prominent faces in the institutional buy-side industry for quant-based investing in India. He holds an MBA from IIM Lucknow and Bachelor’s in Mechanical Engineering from IIT Kanpur.

He has a lot of market firsts to his credit. Being the pioneer in options strategies, and managing futures research for India in his institutional broking days from 2004-2006 to starting and running the first quantitative hedge fund in India in 2007 &  the first systematically managed futures fund in Asia in 2011 at ProAlpha. As part of US-based Monsoon Capital, where he had many global institutional investors offshore and some of the biggest Indian family offices onshore as investors and clients.



Vivek Singla

Managing Partner & CIO,
Private Equity

Vivek Singla has joined us as a Managing Partner & CIO, Private Equity at InCred Alternative Investments. Vivek brings over 18 years of investment experience across private and public equity markets.

Before joining InCred Alternative Investments, he was earlier associated with Avendus as a Principal for  Avendus Private Equity and was instrumental in building the Future Leaders Fund from an idea into a well known name in the Indian private equity ecosystem. The Fund had raised a cumulative committed capital in excess of INR 18.5 bn with 15 investments (1 under closing) across consumer, financial services, digital & technology, IT services and enterprise services and had grown into an 8 member strong investment team.

Prior to Avendus, Vivek was part of CLSA Private Equity (committed capital of US$ 400 mn), where he was involved in the firm’s investment activities in India as well as spearheading its business presence across 5 countries of South East Asia including Indonesia, Vietnam, Malaysia, Thailand and Singapore.

Overall, during his long private equity stint, Vivek has maintained a stellar track record while consummating 20 investments, delivering 7 full exits, each with minimum MOIC of 2x and minimum IRR of 15%. His pro capital preservation style of deal making has held him in good stead with zero write offs/write downs till date.

Before CLSA, he was part of public markets focused investment teams at Kotak Asset Management and Standard Chartered Asset Management with combined equity AUMs of INR 60 bn +.

Vivek holds an MBA from IIM Lucknow and a B Tech in Chemical Engineering from IIT Delhi, where he was awarded the GATE scholarship. He is also CFA (US) Charterholder.

Investment Team

Aditya Khemka

Fund Manager,
InCred Asset Management

Aditya has over 16 years of experience in the healthcare business and investments with working experience in the US, EU, Latin America and in India.

He is well known as a top-performing healthcare fund manager in India and has formerly worked with DSP Investment Managers. Under him, the DSP Healthcare Fund was best-performing sectoral Fund.

His investment process is built on bottom-up research and understanding the source of cash flows and their sustainability.

He started his career working with Glenmark Pharma in 2005 and worked in Brazil and Argentina. He then moved to Lehman Brothers (US) in 2007 and covered US generics companies like Teva, Mylan etc. He then worked with Nomura (UK) in 2008, covering MNC Pharma companies like GSK, Novartis, and Sanofi among others, moving to Nomura India in 2011, where he started coverage of the Indian Healthcare sector.

Formerly Aditya worked with DSP Investment Managers as well.


Aditya Sood

Fund Manager,
InCred Asset Management

Aditya has over 17 years of experience in equity markets, spanning fund management, research and sales.  He has also spent part of his career in London gaining experience in managing emerging market equities.

Previously, Aditya was heading the investment function of the ICICI Prudential PMS and was designated Fund Manager responsible for managing ICICI Prudential PMS portfolios totalling  4,000 cr. 

Aditya has the reputation of being one of the few equity managers ever to close a Fund and return money back to investors in Jan 2018 at its peak performance.

Aditya has also worked in the capacity of fund manager for offshore funds like Sanlam Investment Advisors and First International Group Plc. He has also worked in the investment function at Religare Enterprises and research function at Sharekhan Securities and HDFC Securities.

Ankur Jain

Managing Director,
Private Credit Strategies

Ankur has 15+ years of alternative investing experience in India. 6 years of which in private equity investing and balance in operational consulting and private credit. Formerly with KKR, Edelweiss, Alvarez & Marsal, WL Ross & Co and D.B. Zwirn & Co.

Experience straddles vertically across public and private markets and horizontally across a) Investing – through the capital structure and situations, b) Portfolio Management – value creation, crisis management, troubled portfolio resolution and c) Exits – cash flow linked, capital markets, enforcement and settlements

Among the only investing professionals in India who has worked across market cycles and experienced investing, exits and workouts – a must have for successful private credit investing. Experience includes Investing (c. Rs4,400cr) and generated an IRR of c.18%. Ankur holds CFA and MS (Finance) from ICFAI University.

Virendra Kumar

Fund Manager,
Hedge Fund Strategies

Virendra has more than 10 years of experience in Quantitative Research and Portfolio Management. He has rich experience in the development of Quantitative Models for Stock Selection, Portfolio Construction, and Asset Allocation for Indian Equity Markets. Virendra is the Fund Manager of the Hedge Fund Strategies unit within InCred Alternative Investments. Before joining InCred, Virendra was Portfolio Manager with Aditya Birla Sun Life AMC Limited, Alternate Business, and was managing the Quant Fund and ADAPT Portfolios for Portfolio Management Services. Before that, he worked on different projects across different organizations, on Machine Learning, Natural Language Processing, and Data Analytics. He holds an Integrated Master of  science degree from the Indian Institute of Technology, Kanpur in Mathematics and Scientific Computing.

Quick Links

InCred Asset Management Private Limited
Registered Office: Unit No 1203, 12th Floor, B Wing, The Capital, C-70, G Block, BKC, Bandra (E),
Mumbai – 400051
Phone: +91-22-6844 6100
CIN: U65990MH2022PTC377781

The Asset Management business for InCred is catered through two entities, InCred Asset Management Private Limited and InCred Alternative Investments Private Limited. Both these entities are Investment Managers under SEBI (Alternative Investment Funds) Regulations, 2012. InCred Asset Management Private Limited is also registered as Portfolio Manager with SEBI Regn. No. INP00007410.
InCred Asset Management Private Limited is an Investment Manager to India Value and Growth Trust (“IVGT”).
India Value and Growth Fund- I, Emerging Business Fund and InCred Equity Advantage Fund- I are schemes under IVGT.
Constitution: IVGF has been set up as a Trust under the Indian Trusts Act, 1882 and is registered with SEBI as a Category III Alternative Investment Fund vide registration no. IN/AIF3/18-19/0652 dated March 19, 2019. Trustee: Vistra ITCL (India) Limited | Sponsor: InCred Capital Financial Services Private Limited