Negen Capital Services stands as a beacon for investors seeking catalyst-driven growth in Indian equities. This SEBI-registered PMS & AIF house, headquartered in Mumbai, leverages a unique “Special Situations + Tech” playbook to consistently deliver strong returns.

PMS AUM (in Rs. Cr)
1211.25

No. of PMS Products
1

No. of AIF Products
2

Data as of
31 July 2025

Key People

Neil_Bahal

Mr. Neil Bahal
Founder & CIO

Furthermore, Neil Bahal, Founder & CIO, channels 25 years of investing experience and leverages a strong social-media following to make Negen’s thought leadership widely accessible. He is supported by a robust team of analysts, risk officers, and a dedicated compliance desk led by Yogen Lavari.

PMS Product Performance

Company Name /
Product Name		 Category Date of inception AUM 1y return 2y return 3y return 5y return 10y return Since inception return
Negen Capital Special Situations Fund Multi Cap10 Aug 20171211.2510.50%34.57%28.47%45.09%-19.43%

Negen Capital at a Glance : A Partner for Catalyst-Driven Growth

Born out of an entrepreneurial passion for “trigger-based” value investing, Negen deployed its first discretionary monies in 2017. Today, Negen steers ₹1,500 crore+ for HNIs, family offices, and institutions across PMS, Category I angel funds, and a Category III AIF. All strategies are run from the firm’s Lower Parel, Mumbai hub, giving the team proximity to India’s capital-market ecosystem and a front-row seat to corporate action flow.

Why Negen Capital Stands Out : A Unique Investment Edge

Negen follows a catalyst-driven “modern value” approach, targeting opportunities such as demergers, promoter changes, and governance shifts, while anchoring itself in long-term technology-led megatrends. The strategy avoids PSUs and cyclicals, instead focusing on debt-free businesses with high RoIC and strong free cash flow, and uses a top-down thematic lens to identify high-conviction ideas. Complementing this, the AIF adopts a dynamic allocation style—functioning as an IPO fund in bullish phases by deploying capital into anchor and QIB allotments, while in bearish markets it shifts towards selective listed opportunities akin to its PMS. With the ability to allocate up to 25% into Pre-IPO investments, Negen combines structural robustness with agility, making its PMS and AIF offerings compelling across market cycles.

1. The Catalyst DNA: Unlocking Value Through Special Situations

Negen thrives on events like de-mergers, promoter changes, restructurings, and pre-IPO rounds. These special situations form a constant hunting ground, as they often compress the time it takes for hidden value to surface, leading to accelerated returns.

2. Disciplined Risk Control & Capital Preservation

Negen maintains conservative risk control by shunning cyclicals, heavy commodities, and most PSUs. The PMS even takes timely cash positions to stay nimble during potential drawdowns, ensuring robust capital preservation. Their AIF was 50 % cash before the start of 2025 to take advantage of the corrections that happened, and became the number one AIF in India based on risk-adjusted post-tax returns

3. Negen Capital’s Regulatory Credentials

Negen Capital operates with full regulatory compliance, ensuring trust and transparency for its clients:

  • Portfolio Manager: INP000005414
  • AIF Cat III: IN/AIF3/22-23/1254
  • Two Cat I Angel Funds: Focused on Tech & Start-up themes

Content Reviewed by: Mr Kamal Manocha ( CEO and Chief Strategist).

All PMS performance data used on this page has been sourced from the official Association of Portfolio Managers in India (APMI) portal.

Verified at: https://www.apmiindia.org/apmi/welcomeiaperformance.htm?action=PMSmenu

PMS Product Performance

Company Name /
Product Name		 Date of inception AUM 1y return 2y return 3y return 5y return 10y return Since inception return
Negen Capital Special Situations Fund 10 Aug 20171211.2510.50%34.57%28.47%45.09%-19.43%

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Products

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Negen Angel Fund
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Negen Capital Special Situations & Technology Fund
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Negen Undiscovered Value Fund