Team

Renuka Ramnath

Renuka Ramnath

FOUNDER & CEO

Multiples is founded in my core belief in the infinite capacity of human potential to create value, developed over a career of over three decades. At Multiples, I aim to build a lasting, highly successful and reputed institution that will deliver the potential of alternative investments in India.

Sudhir Variyar

Sudhir Variyar

Managing Director

I teamed up with Renuka at the inception of Multiples. It has been, and continues to be an exhilarating journey as we have watched Multiples evolve from a two-person outfit operating from Renuka's residence to an established platform with a track record of success.

Nithya Easwaran

Nithya Easwaran

Managing Director

I joined Multiples in May 2010 after a 10 year stint with Citibank in structured finance and debt capital markets. I felt excited to embark on a new learning journey with people I had known and respected for more than a decade, and nervous about living upto the confidence reposed in me to succeed in a business that I had never done before.

Sridhar Sankararaman

Sridhar Sankararaman

Managing Director

I joined Multiples close to its inception in 2009, returning to investing in India after working with Sun Group in Private Equity in London.

Manish Gaur

Manish Gaur

Managing Director

I have been an investment professional for ~20 years focused on identifying and nurturing investments across listed and unlisted universe. I have enjoyed my journey of partnering with high quality entrepreneurs and working along with them to create stakeholder value over the life cycle of investments. The enduring relationships that I have forged with many amazing persons has been an incredibly satisfying part of my investing journey so far.

KS Jangbahadur

KS Jangbahadur

Senior Advisor

Starting October 2023, I joined Multiples as a Senior Advisor. I am based in Palo Alto and my role includes originating and evaluating new investment opportunities, bringing a global perspective to emerging investment areas, leveraging my network in the US and scouting for inorganic opportunities for portfolio companies. I collaborate closely with our investment teams and portfolio companies. My key sectors of interest include technology and cleantech.

Kaveesh Thakker

Kaveesh Thakker

Principal

I joined Multiples in September 2020, with a 10-year experience in Investment Banking & Private Equity, successfully managing transactions of collectively over US$1bn. I have diverse experience across several products including Debt Capital Markets, M&A and Equity Capital markets across Deutsche Bank, CLSA, Everstone and EY, which has helped me form a well-rounded view of the investing ecosystem.

Dheeraj Janakiraman

Dheeraj Janakiraman

Vice President

I joined Multiples in 2021 after about five years in investment banking. Prior to joining Multiples, I was with the M&A team of Citi, where I was part of transactions across sectors including retail, healthcare and industrials. Prior to Citi, I spent about 2 years at Avendus Capital, focused on advising private equity and strategic clients in enterprise technology and services space. While the opportunity to be part of value creation journeys by partnering with high quality entrepreneurs is what drew me towards private equity, Multiples’ differentiated approach to investing through its focus on people, combined with the team’s demonstrated track record in the Indian market is what excites me most about the firm.

Prateek Agarwal

Prateek Agarwal

Vice President

I joined Multiples in December 2021 and have 6 years of experience across Private Equity and Investment Banking. Prior to Multiples, I spent around 4 years with Affirma Capital where I focused on evaluating new investments and actively managing portfolio companies in the Consumer and Financial services sectors. I have also spent close to 2 years at Avendus Capital, focusing on Private Equity and M&A transactions. At Multiples, I look forward to partner with committed founders to build organizations for the future.

Rohit Murmuria

Rohit Murmuria

Vice President

I joined Multiples in 2023 with 9 years' experience across private equity, management consulting and investment banking. Most recently, I spent close to 4 years at TA Associates where I focused on TA's growth and buyout investments in India, particularly in the technology and financial services sectors. Prior to TA Associates, I have 4 years' experience at McKinsey & Company, India and 1 year at Ambit Holdings.

Nahush Purohit

Nahush Purohit

Vice President

I joined Multiples in February 2024 with a decade of experience across private equity, investment banking and auditing. Most recently, I was working with Moelis & Company on marquee fundraising and M&A transactions. Prior to Moelis, I worked at Ambit Holdings and Duro Capital.

Vivek Kotak

Vivek Kotak

Associate Vice President

I joined Multiples in 2023 with 6+ years of experience at Mayfield Fund, where I partnered with entrepreneurs looking to use technology to disrupt large markets. At Mayfield, I worked across the entire lifecycle including investments, portfolio management and exits across multiple sectors such as B2C marketplaces, direct-to-consumer brands, e-commerce, mobility, and enterprise technology.

Anay Dalal

Anay Dalal

Associate Vice President

I joined Multiples in October 2021. I am a Chartered Accountant and an MBA from IIM Bangalore. As a chartered accountant, my experience of working with Ernst & Young in their Audit practice led to an interest in analysing financial statements. I enjoy understanding businesses and am particularly fascinated by how market leaders separate themselves from the rest of their competitors. I look forward to work with high-quality businesses and entrepreneurs that are the hallmark of the Multiples portfolio. Outside work, I enjoy reading and watching movies. I also closely follow the Boston Celtics.

Bhuvanesh Vasudevan

Bhuvanesh Vasudevan

Associate

I joined Multiples in April 2023 after my MBA from IIM Bangalore. Prior to this, I worked with Credit Suisse India's Investment Banking team, on M&A and ECM transactions in the BFSI, Consumer, and Industrials sectors. It is here that I picked up an interest in studying industries, analysing businesses, and connecting dots. Further, my MBA helped me understand that there exist different perspectives to business and executive decisions.

Atul Gupta

Atul Gupta

Associate

I joined Multiples in August 2023. Prior to Multiples, I worked at Gaja Capital, where I evaluated investment opportunities in Technology Services, Enterprise SaaS, and EV. Prior to my MBA, I worked for two years at an early-stage Healthtech startup, where I led the product strategy and development of enterprise SaaS products.

Anurag Rathi

Anurag Rathi

Associate

I joined Multiples in October 2023 after completing my MBA from IIM Bangalore, where I graduated with a Gold Medal. Prior to my MBA, I worked with Citi Bank in their London office, covering financial institutions for the Treasury and Trade Solutions business.

Investor Relations and Corporate Affairs
Puneet Sanwalka

Puneet Sanwalka

Head - Fund Raising

Pratibha Ashok

Pratibha Ashok

Head - Investor Relations & Corporate Affairs

I joined Multiples in 2015 and focus on forging and nurturing long-term partnerships with investors. I also champion the Multiples’ SHIFT Initiative for Equity, Empowerment and Environment with its portfolio companies with specific focus on gender diversity and social impact. In this role, I find myself in the midst of the action, witnessing the dynamic changes that India is undergoing across sectors and interacting with some of the finest minds in private equity at Multiples.

Kalpesh Jain

Kalpesh Jain

Managing Director & CFO

I joined Multiples in October 2018 as Managing Director and Chief Financial Officer. Prior to Multiples, I worked in the Assurance Practice at Ernst & Young and Arthur Andersen for 18 years. As a Partner with E&Y, I was leading assignments in sectors like Technology, Fintech, Media, E-commerce, Logistics, and Consumer Goods. I bring extensive experience working on IPOs both in India and US and supported companies in Mergers & Acquisitions.

Kaushal Kapadia

Kaushal Kapadia

Principal & Head - Funds Administration & Financial Controls

I joined Multiples in 2011, and have now been working for over 10 years in the Indian private equity industry. My career objective is to succeed in a dynamic corporate environment, with a focus on enhancing my knowledge and skills and utilizing them in creating value for the organisation.

Ramgopal Seethepalli

Ramgopal Seethepalli

Principal & Head - Portfolio Management

I joined Multiples in 2017 after spending more than 5 years in the Strategic Resources Group at TA Associates, a global growth private equity fund, based out of Mumbai. Prior to working at TA Associates, I spent around 8 years with Deloitte and KPMG in their transaction services and assurance practice spread across offices in India, Singapore and UK.

Apurva Jayant

Apurva Jayant

Principal & Head - Legal

I joined Multiples in January 2022 to lead the Legal function. Prior to Multiples, I was a Partner at J. Sagar and Associates. I graduated from the National Law School of India University, Bengaluru in 2007, post which I worked as a transactional lawyer with leading law firms such as JSA, L&L Partners and AZB & Partners.

Shweta Laddha

Shweta Laddha

Vice President & Head - Compliance & Secretarial

I became part of Multiples family in December 2021. I have 12+ years of experience in Compliance, Secretarial, Legal and Investment Banking .

Vishal Bhavsar

Vishal Bhavsar

Vice President & Head of ESG

I joined Multiples in 2023 after spending more than 5 years as Head – ESG & Sustainability for UltraTech Cement Limited – an Aditya Birla Group Company. In my previous Corporate roles, I have worked with Tata Sustainability Group (TSG) - part of Tata Sons which serves as the nodal resource on sustainability for the Tata group of companies as well as Lead Sustainability for Mahindra Lifespace Developers Limited.

Vishal Bhavsar

Mehul Agarwal

AVP

I joined Multiples in 2023 after an enriching 7-year stint in Strategy and Transactions at Ernst & Young. I am a Chartered Accountant with a graduate degree in commerce from St. Xavier's College, Kolkata. Previously, as an Associate Vice President in the financial due diligence practice at EY, my responsibilities were focused on strategic M&A and private equity fundraising transactions in the BFSI space. At Multiples, I am responsible for the management of existing portfolio companies and oversight of diligence activities for the targets in the pipeline.

APARNA JAIN

APARNA JAIN

Senior Manager - Portfolio Management

I joined Multiples in 2020 after spending more than 4 years in Forensic Diligence at Deloitte and Ernst & Young. Prior to working in Forensic Diligence, I also worked with CRISIL as part of their Global Ratings Team, rating complex structured finance instruments. I spent 3 years with PwC Assurance during my articleship.

CHIRAG MISTRY

CHIRAG MISTRY

Senior Manager - Finance

I joined Multiples in April 2020. I am a Chartered Accountant with over eight years of professional experience in the field of financial reporting and auditing.

Harsh Shah

Harsh Shah

Manager - Finance

I joined Multiples in June 2021 and I look after the fund accounting, operations, investor reporting, and taxation of the AIFs. Prior to Multiples, I was working with Kotak Investment Advisors for around four years where I gained experience in fund accounting and operations of various private equity, real estate, and special situations funds. I am a qualified Chartered Accountant and a Company Secretary. Outside work, I enjoy spending time drawing and doing some amateur photography

Bhadresh Mehta

Bhadresh Mehta

Senior Manager - Compliance

I joined Multiples in January 2022. I have work experience of 7+ years in compliance, legal and company secretarial functions Prior to Multiples, I have worked with Motilal Oswal Private Equity, CLSA India Private Limited and Tata Capital with experience across alternate investment funds, broking, merchant banking and corporate compliances.

Trustee Board
MS Sekhar

MS Sekhar

MS Sekhar is the Former MD of the speciality chemicals business of the Sanmar Group, which he headed for 10 years. He has also served as a functional head in HR, Finance, Legal & Tax during his tenure at Sanmar. He is an expert in setting up new businesses, turnaround of existing businesses, corporate governance initiatives, foreign partner alliances and other such areas.

Vijay Kumar

Vijay Kumar

Vijay Kumar, former Group Executive Vice President, NIIT Group, has a distinguished career spread over 30 years in banking and IT industries. During his association with the NIIT group since March 2000, he was involved in several international acquisitions, setting up strategic alliances and joint ventures and new initiatives.

Advisors
Anita Ramachandran

Anita Ramachandran

Anita Ramachandran has over 35 years of experience as a management consultant. In 1995, she founded HR consultancy firm Cerebrus Consultant, which has now worked closely with over 300 companies across South and Southeast Asia and the Middle East on organization reviews, compensation and benefits, performance management and strategic HR. Anita serves as an Independent Director on the boards of several companies including Godrej & Boyce, Geometric Software, Aditya Birla Retail and others.

Govind Shrikhande

Govind Shrikhande

Retail expert Govind Shrikhande has spent close to 35 years in the Indian textiles, apparel and retail sector, launching and reinventing several renowned brands. Most recently, Govind was Managing Director of Shoppers Stop Ltd where for over 17 years, he spearheaded formats including Home Stop, Crossword and Hypercity.

Jeroen Tas

Jeroen Tas

Mr Jeroen Tas is an innovator and a thought leader, with over 35 years of experience as an entrepreneur and an executive in healthcare, technology software and services, and financial services. In his last role, he was the Chief Innovation & Strategy Officer of Philips. He has also spent a decade at Mphasis, an IT and Business Process Outsourcing company, where he was the Co-founder, COO and Vice Chairman.

JV RAMAN

JV RAMAN

J.V. Raman (JV) is an experienced and accomplished consumer sector global expert, having worked for nearly 3 decades in Unilever across dozens of brands in 7 different countries. In the last 10 years he was heading two significant businesses of Unilever in Vietnam and the Russia cluster business unit.

Prakash Iyer

Prakash Iyer

Consumer sector guru-turned-leadership guru Prakash Iyer spent nearly three decades in key positions with consumer companies including HUL, Infomedia, Pepsico and Kimberly-Clark Lever. He thereafter turned full-time to his passion for writing and speaking, authoring best-sellers including The Habit of Winning and The Secret of Leadership and serving as a leadership coach.

Rajiv Gulati

Rajiv Gulati

Rajiv Gulati has over 30 years of experience in the pharmaceutical industry and has been an independent consultant since 2015. Most recently, he served as President of Global Pharmaceutical Business at Ranbaxy. Prior to that, Rajiv spent several years at Eli Lilly & Company in various roles globally and in India, including as Senior Director of Global Anti-counterfeiting Operations, Director for India-China Strategy and Corporate Strategic Planning, as well as CMD in India overseeing performance in India, Nepal, Bhutan, Sri Lanka and Maldives.

Shashikala Venkatraman

Shashikala Venkatraman

Shashikala Venkatraman brings close to thirty five years of global experience in consumer insight, brand development, strategy and communication having lived and worked in the Middle East, UK and USA. Currently, she runs a CMO advisory firm that specializes in advising media, consumer/service, retail and retail real estate companies. She also serves as an Independent Director on Company Boards.

Managers

Managers

Our Managers help us do our jobs better. They are responsible for running our calendars, planning travel schedules and keeping us better organized!

Finance & Admin

Finance & Admin

Our Finance, Admin and IT teams work hard behind the scenes to keep the Multiples office running smoothly.

Hospitality

Hospitality

Our team of ace cooks keep us well-fed, happy and supplied with endless cups of filter coffee. They are an integral part of the Multiples family.