Duro Capital launches Duro Opportunities Fund, India onshore vehicle; first close ₹200 crore
Category III AIF (SEBI-registered) targets ₹1,000 crore raise from family offices
Fund targets publicly traded Indian companies via concentrated 20–25 stock portfolio
Investment process emphasises high-conviction stock picking, lean factory-style research, manager alignment
Duro Capital, the India-focused investment manager that until now deployed capital into Indian markets via its global funds, has launched its first India onshore vehicle, the Duro Opportunities Fund, and secured a first close of more than ₹200 crore, the firm said.
The Category III Alternative Investment Fund, registered with SEBI in July, is targeting an initial raise of at least ₹1,000 crore from select Indian family offices.
The fund will invest in publicly traded Indian companies with no preset limits on market capitalisation or sectors, giving the team flexibility to pursue opportunities across the listed-equity universe. Duro plans to build a concentrated portfolio of roughly 20–25 high-conviction names, a strategy the firm says has historically driven strong outperformance and alpha versus Indian benchmarks.
Factory-Style Investment Process
Nishchay Goel, Founder and Chief Investment Officer at Duro Capital, described the firm’s approach as a “time-tested, three-pillar investment framework” backed by a rigorous, repeatable process designed to limit errors and avoid chasing short-term market fads.
“This disciplined approach minimizes errors, curbs the temptation to chase ‘flavour-of-the-day’ ideas, and keeps the entire team focused on our singular objective of owning businesses capable of compounding earnings at ~25% over our Fund’s holding period,” he said.
Goel emphasised Duro’s track record managing foreign institutional capital in Indian equities over the past 15 years, noting both its offshore long-short and long-only strategies have materially outperformed domestic benchmarks.
He added the firm has a “significant part” of its own capital invested alongside external investors and a fee structure that aligns manager and investor outcomes.
Lean & Agile Operations
Duro says its investment workflows borrow principles from world-class manufacturing, lean, agile and error-proofing techniques, to reduce human bias and ensure only the highest-conviction opportunities pass through its funnel.
The firm argues that embedding structure, iteration and transparency into decision-making improves consistency and reduces lapses in execution.
Duro Capital Management LLP is an India-focused investment manager and the investment manager of the Duro Opportunities Fund, a Category III AIF registered with SEBI. The firm follows a fundamental, research-driven approach aimed at long-term capital appreciation by investing in fairly priced businesses with defensible competitive positions undergoing structural change.
