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A trusted partner with rich experience across diverse business cycles

True North traces its origins back to 1999, when it was originally named India Value Fund Advisors (IVFA).

The firm was founded with a vision towards investing in mid-sized, profitable, India-centric businesses, and transforming them into world-class industry leaders that are predicated on a strong value system.

Our investment strategy identifies fast growing and structurally attractive segments that either address the needs of domestic consumers or leverage India’s strengths to service the global markets.

Renowned for our investment philosophy of doing things ‘The Right Way’, our collaborative, value-aligned approach creates universally admired and socially responsible businesses which deliver boundless value for all stakeholders. We look to partner with entrepreneurs and business leaders of tomorrow who also share this vision.


True North remains fully committed to doing things ‘The Right Way’ at all times.

Stay Humble.
Sleep Peacefully.

Respect, honesty, and transparency create trust. From stakeholders to our fellow colleagues, we will always be a long-term partner to be relied upon.

Forever Insightful.
Always Innovating.

Continuous knowledge-driven decision making, because business doesn’t sleep. Learning underpins innovation, and innovation creates opportunity.

Uncompromising Integrity.
Continuous Excellence.

Integrity and excellence are our modus operandi, principles that not only govern how we work, but also those we work alongside.

Embrace Diversity.
Nurture Collaboration.

Treat all equally, with consideration and high regard. We will continue to create effective, inspiring, and inclusive teams, no matter who you are, where you are from.



The firm was established as GW Capital by Mr. Gary Wendt, HDFC and Ambit Corporate Finance.

Global PE Alliance

True North is a founding partner of the Global PE Alliance, an international network established in 2008 of eight mid-market private equity firms. These PE firms offer unique global reach, broad sector expertise, and leadership in mid-market private equity. The combined asset base of the members is in excess of US$ 13 billion coming from 400+ blue-chip institutional investors.

Combining in-depth knowledge of the local market with a wide global reach and perspective is essential to success in today’s globalized world.

We offer our partner companies this unique mix through membership with the Global PE Alliance, thus extending strong support to those with global aspirations.

We are the only mid-sized fund in the Indian market that offers such a unique overseas network.