Latest news with #KunalKapoor
AU Financial Review
20-05-2025
- Business
- AU Financial Review
Why Morningstar's CEO says your returns are heading lower
Kunal Kapoor, the chief executive of $US13 billion ($20.2 billion) financial services and data giant Morningstar, likes to explain the vagaries of markets to his kids by showing them a series of graphs. A one-day price graph often looks like a picture of high drama, he explains. A five-day graph seems much smoother. Zoom out to a year, and those five days disappear. Zoom out five years, and the longer-term trend emerges.
Business Standard
19-05-2025
- Business
- Business Standard
Dhanacharya Advisors LLP: Raising Capital with Conviction, Building Businesses with Belief - The Rise of India's Boutique Investment Banking Powerhouse
They don't just raise capital—they raise capabilities. In the silent corners of India's capital markets—where deals are often made before the world hears about them—Dhanacharya Advisors LLP has emerged as one of the most intriguing and fast-rising names in boutique investment banking. What began as a modest financial advisory firm in FY2021 with just 0.5 million in revenue has grown into a 400 million powerhouse by FY2025, delivering a CAGR of over 430%. But this is not just a story of numbers—it is about how two professionals turned a "skin-in-the-game" philosophy into a movement for entrepreneurs and investors alike. Meet the Founders: Precision and Passion At the heart of Dhanacharya are its co-founders: Kunal Kapoor is a capital markets craftsman known for spotting undervalued companies and future leaders long before they hit the mainstream. His strengths lie in strategic advisory, stock picking, decision-making under pressure, and converting abstract ideas into tangible results. He is the firm's idea engine and branding brain. Dhawal Pant brings the power of execution. He excels in client handling, investor relations, deal flow management, and operational scaling. With a strong network and people-first approach, Dhawal is the firm's relationship architect—ensuring every promise is delivered with precision. Together, they offer a rare blend of vision and velocity, helping Dhanacharya bridge the gap between high-potential businesses and serious capital. Skin in the Game: The Dhanacharya Doctrine Dhanacharya doesn't merely advise—it participates. The firm invests its own capital in every deal it backs. This 'skin in the game' philosophy has built deep credibility among promoters and investors. Since 2022, Dhanacharya has invested in 15 companies—five are now listed on the NSE and four more have filed their DRHP. These companies span cutting-edge sectors like AI, Drones, EdTech, Green Mobility, Infrastructure, and Biofuels. Some have delivered 500%+ returns within just two years. 'We don't pitch until we participate. If we're not ready to invest our own money, we won't touch the deal.' Empowering SMEs: Fuel and Focus Dhanacharya actively acquires at least a 1% stake in promising SMEs with scalable business models and robust governance. But capital is just the beginning—the firm provides strategic mentorship, compliance structuring, and growth planning to prepare companies for IPOs or institutional capital rounds. Core SME Services: Strategic growth advisory Business model refinement Private equity structuring Board and governance setup Anchor investor strategy Institutional access and pitch readiness Valuation benchmarking IPO timing and market positioning 'Capital is not our only offering,' says Dhawal. 'We give them a compass. When they grow, we grow.' Creating Alpha for Investors Dhanacharya also caters to a curated circle of angel and institutional investors, providing access to high-quality private equity and Pre-IPO deals. Every investor undergoes a thorough risk-profiling process based on capital comfort, liquidity needs, and volatility appetite. Investor Services: Investment suitability analysis Pre-IPO sourcing and syndication Portfolio structuring and exit strategy ESG-aligned advisory Data-backed opportunity scouting Mutual fund rebalancing and private equity negotiation Capital Influence Without Overreach Though not a SEBI-registered merchant banker, Dhanacharya has enabled capital flows of over INR 700 crore across its portfolio companies. Its strategic inputs in valuation alignment, anchor onboarding, and investor readiness have played a key role in unlocking value. This layered, trusted involvement has made Dhanacharya a go-to name for founders and investors alike. Philosophy Before Profits Dhanacharya operates on three core principles: Integrity over Incentive – Total transparency in every transaction Quality over Quantity – Fewer, deeper deals with meaningful outcomes Partnership over Brokerage – Long-term involvement with every stakeholder This approach has won them the trust of family offices, unicorn founders, and even bureaucrats and political leaders who consult them for private capital strategies. 'You don't hire Dhanacharya for access—you partner with them for insight.' — A prominent investor From Modest Beginnings to Market Makers In 2020, Dhanacharya was a two-man operation in a small Delhi office. Today, it's a 800x revenue success story, redefining 'boutique' as lean in size, limitless in scope. They've led financing rounds, advised on strategic M&As, and orchestrated pre-IPO conversions. Their name is now spoken in boardrooms where decisions shape the future of Indian business. The Road Ahead Kunal and Dhawal are now preparing to launch: A sector-agnostic AIF to institutionalize their investment philosophy A proprietary investment fund A tech-backed dashboard for smarter deal discovery An expanded presence across India's metros and GCC markets India: The Decade of Opportunity From AI and defence to renewables and infrastructure, India has the intellectual capital, demographic edge, and macro resilience to lead globally. As India transforms into the world's growth engine, Dhanacharya is all-in.
Business Times
18-05-2025
- Business
- Business Times
Morningstar eyes growth through AI and public-private market convergence
[SINGAPORE] Investment research and management company Morningstar is strategically positioning itself to capture opportunities arising from the convergence of public and private markets. Having embarked nearly 10 years ago on a mission to bring transparency to public markets, the Nasdaq-listed multi-asset data analytics and research provider now seeks to replicate that success in the private market space. Chief executive officer Kunal Kapoor told The Business Times in a recent interview that the company's goal is to create a common language that investors can easily understand and apply to their portfolios. He noted that investors need to understand how private market assets fit into their portfolios, compare them to public market investments, and recognise differences, such as the lack of liquidity in private markets. Kapoor stressed that investor understanding must evolve for private markets to become more accessible to individual investors. 'Who better to do that work for investors than us?' he added. Empowering investors Reflecting on the transformation of public markets over the past two decades, he highlighted how they evolved from being opaque, costly and poorly regulated to offering lower fees, more transparency and better products to investors. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Kapoor said significant progress has been made in areas that Morningstar has long advocated for on behalf of investors. 'It's fair to say that if you are a public market investor, you should feel pretty good in most parts of the world about what you have access to, the fees being charged and the transparency surrounding it,' he said. However, private markets have yet to undergo a similar transformation. Kapoor pointed to a lack of transparency, highlighting that fees in certain sectors are opaque and high, with many intermediaries taking a cut. He also noted that the understanding of how to select and manage investments is largely confined to institutional investors. 'Why can't a Singaporean investor who historically has had access to public markets also think about access to the private markets for certain parts of their portfolio?' Kapoor asked. He noted that while short-term needs should not be placed in private assets, long-term assets which are set aside for 10 to 20 years could benefit from being allocated to private markets. This approach can provide diversification, potential for better returns and access to managers. 'This can only happen if there is transparency, clarity on fees and a common language through which you can evaluate it – and this is an opportunity for Morningstar,' added Kapoor. Driven by its focus on the convergence of public and private markets as well as leveraging artificial intelligence (AI) to transform client workflows, Morningstar finished 2024 on a strong note. It reported a 9.7 per cent increase in total revenue, reaching US$591 million compared to the previous year. Organic revenue grew by 10.6 per cent, while operating income saw a notable rise of 78.2 per cent, reaching US$168.2 million. Morningstar is actively leveraging AI to enhance its products and services. Investors and investment professionals can tap on its generative AI chatbot, Mo, which is designed to summarise insights in a conversational format. Mo is supported by the Morningstar Intelligence Engine, a platform that pairs the company's extensive investment research library with Microsoft's Azure OpenAI Service. Kapoor pointed out that it can become frustrating to constantly click around an website to find certain information but Mo solves this by instantly providing answers in a conversational format. Users can simply ask Mo for specific investments or compare past and present opinions on stocks. Kapoor noted that while users initially approach AI with caution, their comfort level increases over time. For instance, he observed that the nature of their questions directed at Mo has shifted from being purely transactional to more thoughtful inquiries. He added: 'I am very bullish about AI's ability to get people the answers they want much faster, in a more accurate way, and to allow us to focus on things that are of higher value. And when I think about how we help our customers grow and investors be successful, it's partly by making sure the tasks that are repetitive can be done without all those clicks.' As people get more comfortable with AI, they will accept automation for repetitive tasks. This shift, he believes, will be critical for financial services, where firms must adapt to meet evolving client expectations and add value through automated solutions. Making a difference As financial services transform with AI's rise, Kapoor reflected on what has kept him at Morningstar for almost three decades. Kapoor, who recently turned 50, believes the company's mission to empower investor success has kept him motivated. 'You get up every day and feel good about the work you do and the difference you are making in people's lives,' he said. Another driving force has been the company's growth. Kapoor recalled that when he started at Morningstar, it had less than US$50 million in revenue, with about 200 employees. Today, the company generates more than US$2 billion in revenue and employs more than 10,000 people worldwide. Kapoor noted Morningstar's global expansion, which has grown from a single office in Chicago to a presence in 32 countries, including Singapore. The company's workforce in Singapore has increased by 66 per cent from January 2024 to March 2025. He observed that Singapore's regional influence has grown over the past decade, with global capital flowing into the city-state and more Singaporean investors looking to invest internationally. 'Our expansion in Singapore is a good test of how we have been growing in Asia in general,' he added. In addition to Singapore, Morningstar has nine offices across the Asia-Pacific region, including in Hong Kong, Japan, China, India, South Korea, Taiwan and Australia.
Bloomberg
16-05-2025
- Business
- Bloomberg
Private Credit Gets a Scorecard as Morningstar Steps In
Morningstar has been grading stock and bond funds for years, but it's now going to begin rating less-liquid private asset funds marketed to the masses. CEO Kunal Kapoor joined Bloomberg Open Interest to talk about the initiative. (Source: Bloomberg)
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First Post
13-05-2025
- Entertainment
- First Post
Netflix's Jewel Thief: Kunal Kapoor reacts to severe criticism against Saif Ali Khan starrer: 'It was never supposed to be...'
Kunal Kapoor, who made a comeback with the movie, defended Jewel Thief and said that it did end up doing what it was supposed to. read more Netflix's Jewel Thief featuring Saif Ali Khan, Kunal Kapoor, Jaideep Ahlawat and Nikita Dutta in prominent roles, recently released on the OTT giant. While the film garnered praise for its lavish scale and performances, it was criticised for its storyline. Kunal Kapoor, who made a comeback with the movie, defended Jewel Thief and said that it did end up doing what it was supposed to. 'It was multiple things starting with a chance to do something I haven't done before. That's the most important thing for an actor. My belief is that sometimes a smaller part can make more of an impact if it surprises people, as opposed to a leading part where you do something they have already seen you do. This kind of character has always been my favourite. It's just unfortunate I have never had the chance to be part of one of these films,' Kunal told Hindustan Times when asked what drew him to Jewel Thief. STORY CONTINUES BELOW THIS AD 'Having said that, the reactions that I have gotten from people have shown that it did what it was supposed to do, which was entertain. It was supposed to be fun and have enough surprises to keep you engaged. That, it has done. It was never supposed to be this profound thing that changes your opinion about the world. It was supposed to be a fun ride and it has delivered on that,' he added. Produced by Siddharth Anand, who helmed films like Pathaan, War and Fighter, Jewel Thief: The Heist Begins is directed by Robbie Grewal and Kookie Gulati.
