Our People

The Team

Our Team

Ruchir Khare, Chief Investment Officer

Ruchir Khare

Chief Investment Officer

Ruchir has over 25 years of experience in Indian equities. He previously served as Head of Equities at ICICI Investment Management Company and as Deputy Vice President – Research at Kotak Securities.

Aryan Khandelwal, Principal, Business Development

Aryan Khandelwal

Principal, Business Development

Aryan is an Economics major from Dartmouth College, USA (Ivy League). He was a top performer in the U.S. Investing Championship, Money Managers Verified Ratings Division, with a triple-digit return on his investment in Indian equities in 2024. He is an international squash player and has played in the Division I Squash League. He is also a Certified Wealth Management Executive from IIMA.

Tanmay Khandelwal, Principal, Research

Tanmay Khandelwal

Principal, Research

Tanmay graduated from Columbia University, where he was on the Dean's List and served as Vice President of the Ivy League Council. In 2023, he became the first Indian to win the U.S. Investing Championship (Money Managers Verified Ratings Division) by investing in Indian equities. Past participants and top performers in the U.S. Investing Championship include Ed Thorp, Paul Tudor Jones, and Mark Minervini.

Rupal Khandelwal, Director of New Technologies

Rupal Khandelwal

Director of New Technologies

Rupal is an Economics and Computer Science graduate from Columbia University and was on the Dean's List. She excelled as a Product Manager at Google, enhancing ChromeOS for millions of users and developing premium features for YouTube subscribers, following earlier roles as an Associate Product Manager and Software Engineer. She has also worked in venture capital.

Sumit Soni, Compliance Officer

Sumit Soni

Compliance Officer

Sumit holds certifications in cybersecurity and has strong experience in regulatory filings. He is currently pursuing an LLB degree.

Karan Panwar, Operations

Karan Panwar

Operations

Karan holds an M.A. in Economics and certifications in NISM Equity Derivatives and Research Analysis. He oversees Operations and Administration at Two X Capital.

Ankit Gelani, Research Analyst

Ankit Gelani

Research Analyst

Ankit is a qualified Chartered Accountant with certifications in NISM Equity Derivatives and Research Analysis.

Category III Alternative Investment Fund

Two X Capital Exponential Opportunities Fund

The fund is a Category III Alternative Investment Fund (AIF) pursuing a catalyst-based investing strategy across Indian public markets. The fund seeks to identify high-impact catalysts that can accelerate value creation, with the objective of delivering superior compounded returns over the medium to long term.

Our singular focus is to deliver a high-conviction, dynamic strategy for identifying and scaling exceptional investment opportunities for our capital partners. We are consistently seeking the most compelling opportunities, with an emphasis on long-term earnings supported by near-term catalysts. Our catalyst-driven approach centers on strategically allocating capital by identifying specific events or factors — known as "catalysts" — that have the potential to meaningfully accelerate price appreciation across companies and sectors.

Structure

Fund Details

SchemeTwo X Capital Exponential Opportunities Fund
Investment ManagerTwo X Capital Management Private Limited
Fund TenureOpen-Ended
TrusteeMitcon Credentia Trusteeship Services Limited
Legal AdvisorTrilegal
Tax AdvisorPrice Waterhouse & Co LLP
CustodianNuvama Custodial Services Limited
Returns

Performance

Since Inception: 15th December 2025. Portfolio returns are TWRR and before expenses.

As on 31st May 2026

Two X Capital — Since Inception
+14.23%
NIFTY 500 — Since Inception
−3.08%

* Portfolio returns are TWRR and before expenses. Numbers may be rounded for simplicity.

Legal Disclaimer

This website is provided exclusively for informational purposes. It does not constitute, and should not be construed as, an offer to sell or a solicitation to purchase interests in Two X Capital Exponential Opportunities Fund (the "Fund"), a SEBI registered Category III Alternative Investment Fund or any securities issued by the Fund. No public offer, direct or indirect, is being made through this website, nor does it form part of any invitation or offer to subscribe for, underwrite, or acquire units of the Fund.

Any offering of interests in the Fund will be made solely through a confidential Private Placement Memorandum ("PPM") and related fund documentation, including but not limited to subscription agreements, investor questionnaires, and any amendments or supplements thereto (collectively, the "Fund Documents"), which will be provided only to eligible investors upon request. The information on this website is not intended for, nor directed at, any individual or entity in any jurisdiction where the distribution, availability, or use of such information would be contrary to law or regulation. Access to and investment in the Fund is subject to all applicable registration, licensing, and approval requirements in the relevant jurisdiction.

This website may contain forward-looking statements, including projections, forecasts, and financial data. Actual outcomes and results may differ materially due to a variety of risks and uncertainties.

The Investment Manager nor its affiliates, directors, officers, employees makes any representation or warranty, express or implied, as to its accuracy, completeness, or reliability. No liability is accepted for any loss or damage, direct or indirect, that may arise from use of or reliance upon the information provided herein. Nothing on this website shall be deemed to constitute legal, tax, securities, or investment advice, nor should it be relied upon as a substitute for independent professional advice or construed as a recommendation or endorsement of any investment opportunity.

Two X Capital Management and its directors, employees, and affiliates make no representation as to the accuracy or completeness of the information contained herein and accept no liability for any direct or indirect loss arising from its use. Numbers presented may be rounded for simplicity. This document is subject to change without notice.

Prospective investors are solely responsible for conducting their own independent due diligence and evaluating all available information prior to making any investment decision. The Fund Documents, together with consultation with legal, financial, and tax advisors, should be relied upon for making any such decisions. This website is not intended to be, and does not purport to be, a comprehensive or complete statement of all matters relevant to an investment decision.

Unauthorized reproduction, distribution, or use of any materials on this site without the express prior written consent of the Investment Manager is strictly prohibited. The Investment Manager disclaims any liability for actions taken by third parties in contravention of these terms.

Terms & Conditions

Welcome to twoxcapital.com (the "Website"), operated by Two X Capital Management ("we," "our," or "us"). By accessing or using this Website, you agree to comply with and be bound by the following Terms of Use ("Terms"). If you do not agree to these Terms, please do not use the Website.

Acceptance of Terms

Your use of this Website constitutes your acceptance of these Terms.

This website is provided exclusively for informational purposes. It does not constitute, and should not be construed as, an offer to sell or a solicitation to purchase interests in Two X Capital Exponential Opportunities Fund (the "Fund"), a SEBI registered Category III Alternative Investment Fund or any securities issued by the Fund. No public offer, direct or indirect, is being made through this website, nor does it form part of any invitation or offer to subscribe for, underwrite, or acquire units of the Fund.

Purpose and Use

This Website is provided solely for informational purposes related to Two X Capital Management and its investment strategies. It is not intended to provide investment advice, legal advice, or solicitations to invest. The content hereon does not constitute an offer to sell or solicitation to buy interests in the Two X Capital Exponential Opportunities Fund (the "Fund") or any securities.

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