Invexa Capital is an India focused boutique investment vehicle set up by seasoned Indian Investor Madhusudan Kela (better known as Madhu), with a focus on identifying and executing differentiated investment bets straddling across sectors, themes and asset classes. We are size agnostic and generally prefer concentrated, medium term bets (2-4 years would a sweet spot).
About Madhusudan Kela (Madhu)
Madhusudan Kela (Madhu), the founder of Invexa Capital, is one of the most eminent and seasoned investors in the Indian Capital Markets. In a long and highly successful career spanning three decades, Madhu has received several prestigious accolades for his investing acumen - including the Best Equity Fund Manager from the Prime Minister of India.
Prior to starting Invexa Capital, Madhu, in his earlier stint at Reliance Group, built and led a team of over 40 investment professionals to create and manage the India's largest Asset Management Company by Total AUM.
Madhu is one of the most prominent voices in Indian Equities. He is an important invitee to strategic industry forums, leadership media panels and policy think tanks, and known for candidly sharing his views on a host of macro, policy, thematic and investment related events. He is also a part of the Investment Committee at SIDBI, a member on the Boards of various companies - including Aptech Ltd and Reliance Securities.
Known for his passion and love for investing, Madhu seeks the same passion and hunger to win in the entrepreneurs and individuals he backs.
The investment team at Invexa Capital specializes in combining macro insights & themes with bottom-up investing. We take concentrated investment positions.
Focused on absolute, risk adjusted return
Identify big growth themes and special situations for both tactical and long-term investments.
Within the identified theme, we filter out companies with better risk adjusted return characteristics. We use a combination of proprietary sector models, earnings / balance sheet analysis tools, risk assessment frameworks to further narrow the field for investment.
Quality of Management:
this forms the bedrock of our investing philosophy. We look out for entrepreneurs with passion and a hunger to win. The individual must demonstrate both vision and execution capabilities. Our firm belief is that a good horse is still not winnable unless combined with a good jockey.
Quality of Business:
runway for sustainable growth, capital allocation decisions, investment into IP, comparison of key operating metrics against industry benchmarks, scalability potential and right to win incremental market share / business share etc. are some of the points we look out for.
Assessment and mapping out of key catalysts and immediate triggers for both the company and the stock.
Bet Sizing. Collaborative Assessment
Get the Expert Involved:
Over the last 3 decades, Madhu (and the team) has built a strong set of relationships with experts across every sector and domain, capability area. MK Ventures leverages on these relationships to get highest levels of access to multiple expert minds within the chosen sector / domain, to complement and reinforce our own thought process on the potential investment candidates. We have perfected and internalised this approach over the last several years, thereby creating our own differentiated investment style.
Every successful company, by default, builds a strong ecosystem around it. No company can succeed in isolation. We build our analysis on this maxim, to try and evaluate the company’s position and importance in the value chain, and take feedback from multiple stakeholders connected to it – both internal (employees) and external - suppliers / clients / trade channels / competitors / existing investors etc.
Multiple Assessment Lenses:
Using the above approaches of internal assessment and collaborative assessment, allows us to potentially evaluate the company from every conceivable angle before taking the final investment / position sizing decision. The multiple expert lenses help to reduce the risk and to set up an asymmetric risk reward investment.
Execution Success and Monitoring
Valuation & Value Creation
We seek attractive entry points rather than chasing the idea. And wherever possible, we align other strategic investors and the experts with us in the process, ensuring we benefit from partnership with stakeholders that are highly motivated for the company to succeed.
Expert team now in place to guide, advise, accelerate and monitor investment to ensure substantial growth and best risk reward outcomes are achieved
We map out very clearly the key triggers for the investment on either positive or negative side and have well defined exit strategies for both tactical and long-term investments.
Tushar has 13+ years of cross-functional, cross-industry work-experience (7 years in Consulting, 6+ years in Investing). Prior to joining Invexa Capital , Tushar was AVP – Investments at Reliance Capital Ltd. Previously, he also worked at Accenture Management Consulting and Tata Consultancy Services Ltd. Tushar holds a BE (Electronics & Telecommunications) from Mumbai University and an MBA (PGDM) from the Indian Institute of Management Calcutta, which is ranked amongst the top 3 business schools in India. Besides investing, Tushar is also very passionate about writing, and maintains his own blog. He has also authored a book, available on Amazon Kindle.
Sumit has over 12 years of experience across the financial services, oil & gas, telecom and IT. He has been working closely with Madhu for the last 9 years focusing on identifying long-term wealth creators and fine tuning the process behind it. Prior to joining MK Ventures, Sumit was AVP – Investments at Reliance Capital Ltd. He has also worked at CRISIL, IOCL and Cognizant Technology as an ERP consultant. He holds degrees in MBA (Finance), CFA, and BTech (Computer science)
Siddharth Shah has 12 years of experience in equity research and fund management. Besides listed equities, he also has a deep understanding of private equity, structured credit and real estate investments. Prior to joining MK Ventures, Siddharth was AVP – Investments at Reliance Capital Ltd and Director at Reliance Corporate Advisory Services Ltd. He has also worked at ICRA Ltd and Kotak Securities Ltd. He holds degrees in MBA (Finance), CFA, FRM and BE (Electronic & Communications)
Sunny Gosar has 7 years of experience in equity research and management consulting. Prior to joining MK Ventures, Sunny was an equity analyst at Reliance Capital Ltd. He has also worked at Universal Consulting and is a Chartered Accountant (CA) and Chartered Financial Analyst (CFA)
There is a fear psychosis in the markets and that’s providing opportunities to investors, according to veteran stock picker and fund manager Madhusudan Kela
Source : BloombergQuint (Oct-19)
Investor Rakesh Jhunjhunwala of Rare Enterprises and Madhusudan Kela of MK Ventures share their investment mantra
Source : ET Now -( Feb-19)
Madhu Kela gets candid and shares his experience and learning from stock markets..... he rightly states that he came to market just to make money and not to be right all the time (Nov-18)
Leaders of Tomorrow Conclave & Awards, Madhusudan Kela, Founder of MK Ventures, talks about the key ways of being a successful company and more.
Source : ET Now - (Oct 18)
Zee Business Nivesh ki Pathshala with Zee Business' Managing Editor Anil Singhvi and also know the advice of different expert's on mutual fund investment, key rules before making any investment.
Source : NDTV - (Jul-18)
Stock Market Veteran Madhusudan Kela while addressing people present during the Wealth Creation Summit organised by Badjate Stock and Shares Private Limited in Nagpur, spoke as to how one should invest intelligently in the stock market and also cautioned investors to not be casual while investing in the stock market
Source : Nation next (Nov-15)
Madhu Kela is known for picking winners in the stock market. He is also known to identify opportunities early and fast. We sit down with the chief investment strategist of Reliance Capital AMC to learn his secret for success in investing
Source : NDTV (Nov-15)