Dhamma Capital | Dhamma Investment

Creating Generational Wealth

by Investing in the Rise of India

Dhamma Capital is an independent, partner-centric investment firm, that invests in Indian public markets with a private equity mindset. Unconventional in our approach, we think as Business Owners, and stay invested in wonderful businesses for long periods of time.

We have an absolute return orientation. The firm's long term mission is to compound our Partners' patient capital by 100x over the next three decades, harnessing the powerful economic growth of India.

We Live Our Purpose

Rooted in Buddha’s teachings,

Dhamma is the Pali word for Dharma (धर्म)

that means “Right Way of living" and "Moral

Responsibility”

Dhamma is the Pali word for Dharma (धर्म) that means “moral responsibility" and to "uphold the right way of living”

We believe our Dhamma, our life's responsibility, is to SERVE. As trained capital allocators, we aim to

Steward ethical families, institutions in creating and preserving generational wealth
Partner with valuable, sustainable businesses and help them scale
Donate the majority of our lifetime wealth towards philanthropy and the well-being of our planet.

It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price. And, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

Warren Buffett

Our Story

From The Founder's Desk

My time in New York was a pivotal experience that reshaped me as an investor. Interactions with influential thinkers/CEO's at Columbia such as Charlie Munger, Nick Sleep, Peter Kaufman, Mitch Rales, IGSB, Todd Combs (and many more) left an indelible mark on my investment philosophy. Their insights deepened my appreciation for high-quality businesses & cultures, and for the investment principles practiced by a certain Mr. Buffett. Elegant to observe, but difficult to practice. "Simple, but not easy." At Dhamma Capital, my mission is to implement those purist principles and build a world-class institution that can set another touchstone for long-term, high-quality investing. The journey is long, but purposeful, with our investors at the heart of every decision we make.

What Makes us Different?

Long Duration Alpha

Dhamma's long-term capital orientation allows it to profit from today's short-term volatilities. Stay invested in ‘Leaders of Tomorrow’ for 4-10 years (vis a vis market average of 1-3 years) to enjoy the timeless fruits of compounding, with minimal hidden trading costs.

Private Equity Rigour in Public Markets

We act as long-term Business Owners, and run a concentrated portfolio of 10-20 superior businesses. This approach allows for a very deep, patient, proprietary research process, that is not matched by many and leads to Differentiated Insights

Invest in Niche, Under-Researched Businesses

Diversify your portfolio by investing in under-appreciated businesses that are Leaders in their domains. They possess a deep-seated Competitive Advantage and create new adjacencies for growth on their path from good to great.

Differentiated, best in class Alignment

Incentive structure that motivates the team to generate maximum % IRR for clients, while avoiding high fixed fees and asset gathering. Skin in the game: Majority of our personal wealth invested alongside you. Dhamma is 100% employee-owned with no external shareholders; your interests are our only priority.

Team

Meet Our People

Raghav Mittal

Founder and Managing Partner

Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto - Margin of Safety.

Benjamin Graham

References

In the words of our clients and peers

...One of the most sophisticated investors, their involvement has been invaluable to our company.

Founder and Vice-Chairman,

Portfolio Company

...Have generated the best returns of our 30+ folios over the last few years. We believe Dhamma is a Fund for the Future.

Managing Director,

Single Family Office

...It is rare to find managers who invest with a truly long-term horizon, backed by incredible research. Dhamma is one of them.

Vice President,

Leading Investment Bank

...An investment peer who will go on to become very successful in the investment industry

Fund Manager & Mentor,

Global Investment Fund