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.

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.

Kaustubh Maniar

Kaustubh Maniar

Principal

I joined Multiples in 2017. Prior to that, I spent time as an entrepreneur in a family-run business and as an investment banker at Kotak Investment Banking. These diverse experiences, along with an MBA from the Indian School of Business (Dean’s List), drove a passion for understanding businesses and working with entrepreneurs in building new leaders.

Rahul Hirawat

Rahul Hirawat

Vice President

I joined Multiples in 2022 with about 5 years’ experience in leading growth stage investments across Consumer, Logistics, Mobility and B2B businesses at Bertelsmann.

Dheeraj Janakiraman

Dheeraj Janakiraman

Associate 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

Associate 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.

Madhurima Jaiswal

Madhurima Jaiswal

Associate

I joined Multiples in 2021 after four years in Investment Banking, most recently with J.P. Morgan in New York and London, where I focused on Technology, Media and Telecoms companies. Prior to this, my MBA from Yale School of Management allowed me to have well-rounded view of the various facets of a business, learn from the unique experiences of my peers and expand my professional network. My global experiences have instilled in me a curiosity to understand industries and business models, and closely work with entrepreneurs in their journey.

Anay Dalal

Anay Dalal

Associate

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.

Investor Relations and Corporate Affairs
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 .

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 Accounts

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.

Advisory Board
Alok Agarwal

Alok Agarwal

Mr. Alok Agarwal has been the Chief Financial Officer of Reliance Industries Limited (RIL) since 2005. He joined Reliance in 1993 as Treasurer and has been responsible for managing all of the groups financial resources, banking relationships and capital market transactions for over two decades. Reliance has won several accolades in this period for its financing transactions risk management and investor relations.

D Shivakumar

D Shivakumar

Shivakumar, or Shiv as he is popularly known, is currently Group Executive President at Aditya Birla Group for Strategy and Business Development. He joined the ABG group in January, 2018.

Dr.Khajeh-Hosseiny

Dr.Khajeh-Hosseiny

Dr. Khajeh-Hosseiny is Chairman of Open X Innovations LLC and Trinity Sky LLP, a venture capital and private equity investor; Senior Advisor to McKinsey & Company on Innovation, Growth and Investments; and a Board Trustee of the Brookings Institution, the United States' oldest and largest public policy think tank, founded in 1916 and based in Washington, DC. Hosein is also a Board Trustee of the UK Productivity Leadership Group, an entity supported by the UK government and comprising of the leaders of some of UK's most distinguished corporations, to help transform the performance and competitiveness of UK enterprises.

Trustee Board
BD Narang

BD Narang

BD Narang is the former Chairman of Oriental Bank of Commerce, who completed his tenure in 2005. During his Chairmanship, OBC became the first public sector bank with Zero Net NPA and was ranked amongst "Best under a Billion, 200 Best Small Companies for 2003" by Forbes Global. OBC was also rated as "Best Bank" by Business India Group for the Year 2003.

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.

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.

Romesh Sobti

Romesh Sobti

Romesh Sobti retired as the Managing Director and CEO of IndusInd Bank. Since 2008, he was at the helm of the bank where he is credited with turning around the Bank. His entrepreneurship approach to conceive and execute a business model along with a team of like-minded professionals were key ingredients of his success at the Bank. Mr. Sobti is a career banker with a career spanning 46 years across State Bank of India, ANZ-Grindlays, ABN Amro and IndusInd Bank. He brings his rich

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.