Upside AI

Upside AI operates as a fintech firm registered with the Securities and Exchange Board of India (SEBI) as a Portfolio Management Service (PMS). The company was established in December 2017 by co-founders Kanika Agarrwal, Nikhil Hooda, and Atanuu Agarrwal. The business was founded on the principle that technology can make superior investment decisions over the long term by removing emotional and psychological biases that affect human fund managers.

The founders' collective expertise forms the company's foundation. Kanika Agarrwal, the Co-founder and CIO, is a Chartered Accountant and CFA charter holder with a background in venture capital at Mayfield India and investment banking at Credit Suisse. Her experience in evaluating early-stage companies and finance was pivotal in shaping the firm's investment philosophy. Nikhil Hooda, the technology lead, holds a B.Tech in Computer Science from IIT Bombay and a PhD, and he developed the company's proprietary algorithms in-house. Atanuu Agarrwal, also an IIT Bombay alumnus with a background in investment banking at Credit Suisse and private equity at Vedanta Capital, brings extensive experience in public and private investing in both India and the US.

The company's core offering is a rules-based, systematic approach to equity investing. It employs proprietary machine learning algorithms to analyze fundamental company data, identify financially sound businesses, and construct investment portfolios. This approach creates a distinct investment category positioned between active and passive management, with the goal of delivering consistent alpha. Upside AI primarily serves High Net-worth Individuals (HNIs), family offices, and institutional clients in India and globally, with a minimum investment threshold of INR 50 lakhs. Revenue is generated through fees for its portfolio management services. After launching its products to external investors in July 2019 following a beta period, the firm has seen significant growth in its Assets Under Management (AUM). A seed funding round of $1.2 million was secured in June 2021, led by Endiya Partners, to expand its technology, product development, and distribution teams.

Keywords: SEBI registered PMS, portfolio management service, machine learning investing, algorithmic trading, quantitative fund, investment management, fintech, wealth management, asset management company, HNI investors, family offices, fundamental investing, rules-based investing, systematic investing, Indian stock market, equity investing, AI-driven finance, investment technology, Kanika Agarrwal, Nikhil Hooda, Atanuu Agarrwal, Endiya Partners, Mumbai fintech