9AT: INDIA CAPITAL LLC

other names

INDIA CAPITAL LLC

Adviser Profile

As of Date	03/25/2026
ADV Location	MINNEAPOLIS, MN, United States
Adviser Type - Large advisory firm
Number of Employees	1
of those in investment advisory functions	1
Registration	SEC, Approved, 11/17/2020

AUM^*	365,298,804 0%
of that, discretionary	365,298,804 0%
Private Fund GAV^*	365,298,804 5%
Avg Account Size	365,298,804 0%
SMA’s	No
Private Funds	2 1
Contact Info	973 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

Fund Type	Count	GAV
Fund TypeHedge Fund	Count2	GAV$365,298,804

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser TAMARACK ADVISERS, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM317.0m	#Funds-
Adviser EDENBROOK CAPITAL, LLC	Hedge Fund278.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV278.3m	AUM278.3m	#Funds2
Adviser LIQUID CAPITAL MANAGEMENT LLC	Hedge Fund577.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV577.6m	AUM287.6m	#Funds5
Adviser SEVEN GRAND MANAGERS LLC	Hedge Fund4.7m	Liquidity Fund-	Private Equity Fund5.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV10.2m	AUM1.2b	#Funds2
Adviser CLADRIUS PARTNERS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM211.2m	#Funds-
Adviser SCALEBUILDER, LLC	Hedge Fund160.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV160.1m	AUM145.8m	#Funds4
Adviser PALO DURO INVESTMENT PARTNERS, LP	Hedge Fund302.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV302.6m	AUM402.8m	#Funds3
Adviser SAMJO MANAGEMENT, LLC	Hedge Fund115.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV115.7m	AUM308.8m	#Funds2
Adviser UAS ASSET MANAGEMENT	Hedge Fund92.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV92.4m	AUM493.0m	#Funds1
Adviser WHITE PINE CAPITAL LLC	Hedge Fund11.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV11.9m	AUM430.6m	#Funds1

Brochure Summary

Overview

IC LLC is an investment adviser organized as a Delaware limited liability company with its principal office and place of business in Minneapolis, Minnesota, USA. IC LLC was founded in 2019 and is a wholly owned subsidiary of India Capital Management Limited, a company incorporated in Mauritius (“ICM”). Dan Tennebaum is the president and manager of IC LLC. IC LLC is a “one person shop.” Dan Tennebaum is the only officer and employee of IC LLC. However, IC LLC is part of the broader group of companies that conduct business under the “India Capital” brand. Thus Dan Tennebaum, in his role as president and manager of IC LLC, provides ongoing advice and other inputs on the business of the India Capital group of companies. IC LLC serves as sub-adviser to each of India Capital Fund Limited, an open-ended investment company incorporated under the laws of Mauritius (the “Fund”), and ICM, the investment manager of the Fund, pursuant to a written sub-advisory agreement among IC LLC, the Fund and ICM (the “Sub-Advisory Agreement”). As sub-adviser, IC LLC assists ICM, which is an investment adviser registered with the SEC, by (i) providing advice to ICM regarding listed Indian securities and

other equities and (ii) providing continuous and regular supervisory and management services to the Fund. IC LLC does not provide investment advice to any clients other than ICM and the Fund. The Fund invests primarily in shares of companies listed on Indian stock exchanges and certain other equities in accordance with the Fund’s investment strategy disclosed in the Fund’s confidential Offering Memorandum (the “Memorandum”). The Fund is exempt from the registration requirements of the U.S. Investment Company Act of 1940, as amended, pursuant to Section 3(c)(1) of that Act. The Fund offers its shares in the United States solely in private transactions exempt from the registration requirements of the U.S. Securities Act of 1933, as amended, pursuant to Regulation D under that Act and on the terms and conditions set forth in the Memorandum. As of December 31, 2023, IC LLC had total regulatory assets under management of US$365,191,055, which consists entirely of the assets of the Fund. IC LLC tailors its advisory services to meet the investment strategy of the Fund as disclosed within the Memorandum. IC LLC does not participate in wrap fee programs. This brochure is not an offer to invest in the Fund.

INDIA CAPITAL LLC

Adviser Profile

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview