Aligning Interests, Amplifying Opportunities: Inside Two X Capital's Performance-First Investment Platform

Jan 08, 2026

VMPL
New Delhi [India], January 8: Two X Capital is a dedicated investment management firm focused on long-term wealth creation through disciplined portfolio management, rigorous research, and complete alignment of interests.
Overview of the Fund
The Two X Capital Exponential Opportunities Fund is a SEBI-registered Category III Alternative Investment Fund (AIF), structured as an open-ended strategy investing across Indian public markets.
Investment Approach
The fund employs a catalyst-driven approach, targeting high-impact events and inflection points to accelerate value creation and deliver superior compounded returns over the medium to long term. Earnings acceleration typically arises from capacity expansion, acquisitions, margin improvement, and other structural drivers.
The multi-cap portfolio comprises 25-35 high-quality companies, balancing liquidity and diversification to ensure robust risk management while fostering a repeatable process for world-class performance.
Team Leadership
The fund benefits from a unique blend of youth and experience within its team. It is spearheaded by Chief Investment Officer Ruchir Khare, a market veteran and former Head of Equities at ICICI Investment Management Company Limited (IIMCL), where he established the Emerald Equity Platform and delivered consistent investor outperformance from 2019 to 2022. Prior to this, he served as Vice President, Research, at Kotak Securities.
He is supported by Ivy League alumni Tanmay Khandelwal (Columbia University B.S. Industrial Engineering and Operations Research 2022) and Aryan Khandelwal (Dartmouth College B.A. Economics 2025), both winners and top performers in 2023 and 2024 at the globally recognized, multi-decade-old U.S. Investing Championship--whose past winners include Paul Tudor Jones, Mark Minervini, Louis Bacon, Ed Thorpe, among others.
Notably, Aryan was formerly ranked among India's top junior squash players and competed in varsity Ivy League squash in the US.
Unique Fund Structure
Structurally differentiated by its 0% management fee, the fund embodies a performance-first philosophy that is fully aligned with investor interests--Two X Capital succeeds only when its investors do.
Guided by the belief that the right goals drive the right actions, the firm is focused on building one of India's leading investment funds, rather than merely pursuing growth in assets under management.
For further information, please visit www.twoxcapital.com.
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