Grounded in perspective.
Driven by partnership.
Committed for the long-term.

About Us

About Us

Invisage Capital is an independent, founder-managed investment firm based in Singapore.

Regulated by Monetary Authority of Singapore. Holding a Capital Markets Services (CMS) License.

People

Vinay Agarwal

Vinay Agarwal

Director & Lead Portfolio Manager

Vinay brings over two decades of investment experience across Indian and Asian equity markets. Prior to founding Invisage Capital, he was a director and portfolio manager at FSSA Investment Managers.
Vinay was the lead manager of the FSSA India Subcontinent Fund from 2012 to 2024, and was responsible for building an investment team focused on India. Under his leadership, the fund delivered top decile performance. Vinay was also managing the Scottish Oriental Smaller Companies Trust (2016 – 2024) and the FSSA Asia Focus Fund (2018 – 2024). Additionally, he managed large multi-billion dollar institutional mandates for globally prominent institutions.

Earlier in his career, Vinay was at Arisaig Partners (2003 – 2011), where he led the Arisaig India Fund and co-managed the Arisaig Asia Fund.

In 2017, he was recognised by CNBC Citywire as one of the Top 40 Under 40 Global Equity Investors.

Naren Gorthy

Naren Gorthy

Director

Naren has over 16 years of experience in the asset management industry.

Prior to co-founding Invisage Capital, Naren was a co-portfolio manager & senior analyst at FSSA Investment Managers since 2014. He was the co-manager for the FSSA Global Emerging Market strategy since its inception in November 2017, attracting institutional clients from countries such as Australia, the United Kingdom and the Netherlands. He was also the co-manager of the FSSA Asia Focus Fund and earlier, the FSSA Indian Subcontinent Fund. In addition, he served as a Trustee on the board of directors of the Manan Trust, the philanthropic arm of FSSA Investment Managers since 2022.

Earlier in his career, Naren was a senior analyst and director at Arisaig Partners. He was appointed as a director of the Arisaig India Fund in July 2011, and helped to oversee the firm’s investments in India.

Shivika Srimal

Shivika Srimal

Director

Shivika Srimal has a decade of experience in the asset management industry.

Prior to co-founding Invisage Capital, Shivika was a co-portfolio manager and investment analyst at FSSA Investment Managers. As an analyst, she was focused on the Indian market and was responsible for assisting the lead portfolio manager with idea generation, portfolio monitoring and investment research. She was also the co-portfolio manager of a segregated mandate investing in India.

In addition, she served as a Trustee on the board of directors of the Manan Trust, the philanthropic arm of FSSA Investment Managers since 2020.

Tze Qin Ang

Tze Qin Ang

Chief Operating Officer

Qin has over 14 years of experience in the financial services industry and is a qualified CPA.

Before jumping onboard Invisage Capital, Qin was a financial controller at Arisaig Partners in Singapore, where he managed the finance and operations for its funds and corporate entities.

Prior to this, Qin was an auditor with EY, in its financial services assurance practice, working on a portfolio of bank and asset management clients.

Stephanie Seah

Stephanie Seah

Office Manager

Stephanie has over 20 years of experience in office management and business operations across multinational and corporate environments.

Prior to joining Invisage Capital, she was the Executive Assistant and Office Manager at Combi Process Engineering, where she supported senior management and the wider team by implementing administrative systems and managing daily operations.

Earlier in her career, she held similar roles at Heidelberg and Gallus, where she gained extensive experience supporting international teams and senior executives.

Our Investment Philosophy

We believe that there is no such things as a perfect business - we spend our time assessing the direction of travel, engaging and understanding the undiscounted change.

Risk-aware

Clarity about what not to do

Long-term

Marathon, not a sprint

Quality of Owners and Managers

Alignment and strong culture

Quality of franchise

Return on capital employed and moats

Steady and sustainable growth

Internally funded, not reckless

Contact Us

Get in touch with our investment team

Office Locations

Invisage Capital Pte Ltd

1 North Bridge Road
#23-06 High Street Centre
Singapore 179094

+65 6670 6637

info@invisagecapital.com