QICAP

QICAP (QiCAP.Ai) is a quantitative multi-asset trading and investment platform specializing in high-frequency, AI-driven strategies across Indian and global markets. The company leverages proprietary technology and advanced quantitative models developed by a team of engineers and mathematicians to capture opportunities in equities, derivatives, and other asset classes. QICAP operates from major financial centers, including Mumbai, Bangalore, GIFT City, Delhi, Singapore and Dubai, reflecting its global ambitions,

Core Products and Services

• Quantitative Trading Solutions: High-frequency and low-latency trading strategies across Indian equities, derivatives and commodities, powered by proprietary AI and quantitative models.

• Multi-Asset Investment Platform: Access to a broad spectrum of asset classes for institutional and professional clients, including family offices and HNIs, with customized risk-return profiles.

• AI-Driven Portfolio Analytics: GenAI and deep reinforcement learning models for real-time sentiment analysis, stock prediction and multi-strategy portfolio construction—enhanced by the integration of Theremin.ai.

• Execution Services: Advanced execution algorithms and IT solutions for professional traders, with a focus on minimizing slippage and maximizing alpha.

Key Milestones

• 2023: Achieved a 51% YoY revenue increase and a 50% rise in profitability; net worth surged over 3,100%.

• 2024: Completed the strategic acquisition of Theremin.ai, enhancing GenAI-powered trading and sentiment analysis.

• 2024: Closed a $24 million Series B funding round at a $210 million post-money valuation.

• 2025: Raised an additional $28.8 million in Series A funding, accelerating global expansion and R&D.

Business Model & Revenue Streams

• Trading and Investment Performance Fees: QICAP earns performance-based fees from its quantitative trading and investment strategies, primarily targeting family offices, HNIs, and institutional clients.

• Technology and Analytics Licensing: Revenue from licensing proprietary AI models, analytics platforms and execution algorithms to external financial institutions and trading desks.

• Consulting and Training Services: Income from management consultancy, IT solutions and specialized training for capital market professionals.

• Geographic and Customer Mix: While India remains the primary market, QICAP is expanding into Singapore and Dubai; the client base is predominantly B2B (family offices, HNIs and institutions)

• Financial Snapshot: In FY23, QICAP Investments Private Limited reported a 51.41% revenue increase and a 50.28% rise in profit, with net worth up over 3,100%.

Top Clients & Partnerships

• Family Offices & HNIs: QICAP’s core client base includes leading Indian and global family offices, such as the Taparia family (Ananta Capital), Mittal family (Crimson Interactive) and Sandeep Runwal (Runwal Developers).

• Institutional Investors: Strategic investments and partnerships with Bay Capital, Founders Collective Fund and participation from former Goldman Sachs and PIMCO executives.

• Technology & AI Partners: The acquisition and integration of Theremin.ai (from Fractal Analytics) has brought advanced AI capabilities for stock prediction and sentiment analysis, further cementing QICAP’s leadership in quantitative finance.

• Diversification Initiatives: With a broadening geographic footprint and product suite, QICAP has reduced concentration risk by expanding into new markets (Singapore, Dubai) and asset classes.

Future Outlook & Strategic Priorities

• Continued investment in GenAI and reinforcement learning to develop new trading strategies and analytics products.

• Expansion into Southeast Asia and the Middle East, leveraging regulatory approvals in GIFT City and Dubai.

• Ongoing acquisition pipeline, targeting niche AI and quant startups to enhance platform capabilities.

• Regulatory changes impacting algorithmic and high-frequency trading in India and abroad.

• Intensifying competition from both domestic and global quantitative funds and fintechs.

• Market volatility and macroeconomic shifts affecting trading performance