Amid the noise of new-age ventures and speculative digital ventures, a new fund management company has steadily risen—rooted not in hype, but in hard value. Founded on the principles of aligned incentives, economic impact, and disciplined investing, the company is emerging as one of the most trusted new players in India’s private capital market, The Wealth Company, which is part of Pantomath Group.
Its marquee vehicle, the Bharat Value Fund, is already drawing attention from both institutional and HNI investors for its unique focus on traditional sectors—industries that are often overlooked in mainstream capital allocation but form the backbone of the Indian economy.
Breaking the Mold: Led by Madhu Lunawat
Spearheading this rise is Madhu Lunawat, a trailblazing force in the Indian investment landscape. A Chartered Accountant by qualification, with over two decades of experience across private equity, structured finance, and industrial growth strategy, Madhu has held senior leadership roles at prominent financial institutions before launching the firm. She last served as CFO at Edelweiss ARC.
Her journey is not just noteworthy for her credentials—it is historic. She has established India’s newest woman-founded and woman-led fund management company, setting a new precedent in an industry long dominated by men. Her leadership, marked by integrity, foresight, and institutional discipline, has built trust across both investors and entrepreneurs.
Madhu’s core belief is clear: “Capital must flow to where India builds, not just where it disrupts.”
Investing in Real India: Bharat Value Fund’s Contrarian Thesis
The company’s flagship, Bharat Value Fund, represents a contrarian and refreshingly grounded investment thesis: backing high-potential businesses in manufacturing, consumer products, electronics, industrial services, and logistics—sectors that generate employment, and build long-term value.
Among it’s diverfieid pool of more than 20 investments, some of the early investments made by Bharat Value Fund include :
• Prabhuji Haldiram – A storied Indian ethnic snacks brand with deep roots in eastern and northern India. The fund’s capital is helping it expand production capacity, modernize distribution, and digitize supply chains while preserving traditional recipes and regional employment.
• Marudar Rocks – A Hosur-based building materials company with 100% exports. With the fund’s strategic capital and operational inputs, Marudar is scaling into global markets, generating foreign exchange for India and creating artisanal jobs in tier-3 regions.
• Veira Electronics – A growing player in the electronics manufacturing services (EMS) space, supporting India’s push for import substitution in electronics. Vera’s manufacturing footprint is helping build domestic supply chains for components in consumer durables.
Each of these companies is aligned with the macroeconomic priorities of Make in India, Atmanirbhar Bharat, and industrial job creation.
A Fee Model That Walks the Talk
While many fund houses reward themselves at the start, this wealth firm charges management fees only on actual realizations of AUM, making it one of the most investor-friendly structures in Indian private equity. The model reflects a deep alignment of interest between the fund managers and their investors, and has found strong support from seasoned family offices and institutional backers alike.
Fast Exits, Focused Tenure
With an optimal investment cycle of 3 to 5 years, the Bharat Value Fund is delivering one of the fastest exit velocities in the market. Strategic sale conversations are already underway in key portfolio companies, with IRR visibility emerging within the first 24-30 months—a significant departure from the long-drawn exits typical of private equity funds.
Building More Than Wealth
The fund’s approach is not just generating returns—it is building impact. Its portfolio companies have cumulatively generated over 5,000 jobs, contributed significantly to state and central exchequers, and improved productivity in traditional industries. Whether it’s funding automation in food processing or compliance upgrades in export-led industries, the focus remains on sustainable enterprise building.
Founded on strong governance architecture
Bharat Value Fund is backed by the strong institutional foundation of the Pantomath Group, a well-diversified financial services platform with deep capabilities across investment banking, asset management, equity research, and distribution. The fund benefits from a highly organised governance structure, a seasoned leadership team, an eminent board, and domain experts as industry advisors. This integrated and professional setup ensures disciplined investment processes, robust risk management, and strong execution capabilities.
The Wealth Company, which manages the Bharat Value Fund, is guided by a highly experienced and professionally managed team with a strong emphasis on governance, transparency, and long-term value creation. The leadership is spearheaded by Madhu Lunawat, a veteran in capital markets and private equity investing, supported by a team of investment professionals with rich experience in business strategy, finance, operations, and sector-specific expertise. The fund benefits from a robust governance structure that includes a distinguished board comprising eminent professionals and thought leaders, along with a panel of industry advisors who bring deep domain knowledge and strategic insights. This institutional framework ensures high standards of diligence, integrity, and disciplined decision-making throughout the investment lifecycle.
The Voice of Value in a Noisy Market
In a world chasing fads and moonshots, this fund house is making a compelling case for capital with character. By backing grounded businesses with real output, it is proving that India’s growth story doesn’t just lie in apps and algorithms—it lies in factories, farms, machines, and warehouses.
The Bharat Value Fund may just be the contrarian voice the market needs—a return to fundamentals, to dignity in enterprise, and to wealth with purpose.
