Ricky Kirpalani
Lead Sponsor & Investment Advisor

Ricky Kirpalani

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30 years experience
₹1,680 Cr AUM Managed
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As Founder and Chief Investment Adviser for First

Water Capital, Ricky is a logic-based value investor

with over 30 years of experience. His

investment approach is fueled by passion

and perseverance.

His investment approach involves a combination of rigorous due diligence, an

intuitive understanding of the correlation between global, industry, and

company specific factors, and a macro perspective on the ever-changing

landscape of the emerging markets.

Prior to launching First Water Capital, Ricky was an independent business

analyst and ran a pool of capital generating alpha with a CAGR north of 30%

over a timeline of over 15 years.

Additionally, Ricky has seen commerce from an owner’s viewpoint with

interests in various industrial businesses in Africa and as financial advisor to a

number of CEOs. This has allowed him to obtain a broader viewpoint of the

internal dynamics and conflicts of operating and managing a business.

AUM Managed

₹1,680 Cr

Across all strategies

Fund Managed

2 Funds

Active & Closed

Avg Fund IRR

-

Net IRR since inception

Benchmark Return

28.03%

Across all funds

Industries Focus

-

Sectors

Professional Background

Career Timeline

No career timeline available.

Education

No educational details available.

Certifications & Boards

No certifications available.

Funds Managed

Fund Name (2)

Category

Fund Size

XIRR

MOIC

Portfolio companies

Close Date

First Water Capital Fund - IICategory III-0.00%0--
First Water Capital FundCategory III₹1,680 Cr0.00%0--