Duro Capital Hits First Close on Maiden India AIF Offering, Targets 1,000 Cr Raise from Family Offices

India-focused Investment management firm Duro Capital, which has previously invested in India only through its global funds, has now set up an Indian onshore vehicle for the first time. Duro Capital launched the ‘Duro Opportunities fund’, a category III AIF registered with SEBI, in July. The fund has already secured a first close of over Rs 200 crores and is targeting an initial raise of at least Rs 1,000 crores from select Indian family offices. 

The fund will focus on investing into publicly traded companies in India, with an agnostic approach to market capitalization and sector, enabling flexibility to capture opportunities across the listed equity spectrum. The fund aims to build a concentrated portfolio of 20–25 companies. This approach has historically led to Duro building a long track record of strong outperformance and alpha over Indian markets.

Speaking on the announcement, Nishchay Goel, Founder & Chief Investment Officer, Duro Capital said, “At Duro Capital, we use a time-tested, three-pillar investment framework along with a rigorous process which ensures that every opportunity is evaluated with consistency and depth. 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 further added, “Over the past 15 years, we have managed foreign institutional capital in Indian equity markets with strong results. Both our offshore Long-Short and Long Only public equity strategies have significantly outperformed Indian benchmarks. Most importantly, we have a significant part of our own capital invested alongside investors and a fee structure that rewards us only when we generate attractive returns for our investors, ensuring complete alignment."

Duro Capital’s investment processes are designed with the discipline of world-class manufacturing systems. Every step is rooted in rigorous analysis and structured decision-making, while the operating rhythm is modelled around agile methods that emphasize iteration, transparency, and error-proofing. Just as modern factories use lean and agile practices to eliminate waste and minimize defects, Duro’s frameworks and workflows are built to systematically reduce human bias, avoid lapses, and ensure that only the highest-conviction opportunities pass through its investment funnel.