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Evolvence India Fund

Fund of funds

Mumbai · Seed–Late Stage · 20 people tracked

Also known as EIF MANAGERS II LIMITED · EIF MANAGERS III LIMITED · EIF MANAGERS IV LIMITED · EIF MANAGERS LIMITED

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Investment thesis

Evolvence India positions itself as a comprehensive private markets platform for India, offering customized solutions across fund investments, secondaries, and co/direct investments. The team collectively holds over 80 years of senior-level experience in private equity and venture capital, supported by a strategic advisory board of industry veterans and policy makers. Its competitive edge stems from a large on-ground team dedicated to fund and co/direct investments, deep relationships across India's and the global PE and VC ecosystem, and a strong presence in both India and the Middle East that enables cross-border opportunities for portfolio companies.

Invests inConsumerEnterprise SoftwareFintechHealthtechSector AgnosticIndiaMiddle East & North AfricaMumbai

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Late Stage
HQ
Mumbai, IN
Instruments
Equity
Founded
2009
AUM
$700M
Tracked investments
24

Team · 20 people

from the firm's website
Ajit Kumar· Managing Partner and Member of the Investment Committee

Ajit Kumar is Managing Partner at Evolvence India, where he oversees strategy, investments, and investor relations. He has over 27 years of experience in private equity and venture capital, including a prior role at a Middle East multifamily office where he allocated capital across more than 130 PE and VC funds as well as direct and co-investments in India and other geographies. He has served on boards and sub-committees of public and private entities across financial services, steel, construction, engineering, chemicals, education, and services, and holds an MBA from London Business School.

Rohit Batra· Managing Partner and Member of the Investment Committee

Rohit Batra is Managing Partner at Evolvence India, where he oversees core operations spanning strategy, investments, and investor relations. He has over 17 years of experience in private equity, consulting, and institutional broking, and previously worked as an analyst at Bond & Pecaro, a US consulting firm focused on appraisals of media assets for M&A in broadcasting, print, and cable. He holds a B.A. in Economics and International Affairs from George Washington University.

Abhishek Chandra· Partner and Member of the Investment Committee

Abhishek Chandra is a Partner and member of the Investment Committee at Evolvence India, where he oversees co- and direct investments across financial services, consumer, and technology. He has more than 14 years of experience in private equity, consulting, and banking, previously serving as Assistant Vice President at MCap Fund Advisors and working with Citibank in its credit department. He holds an M.Com and an MBA from SP Jain Center of Management, India.

Anil Talreja· Managing Director & CFO

Anil Talreja oversees finance, accounting, and compliance operations at Evolvence India. He previously worked in the fund operations team of Vistra ITCL (India) Limited (formerly IL&FS Trust Company Ltd), the finance team of Uttam Galva Steel Ltd, and the internal audit team of BPCL, with over 13 years of experience in fund operations, accounting, taxation, auditing, and controllership in India. He holds a Master's degree in Commerce, is a qualified Chartered Accountant (ACA) from The Institute of Chartered Accountants of India, and has cleared company secretary exams from The Institute of Company Secretaries of India.

Deependra Dhamu· Managing Director

Deependra Dhamu oversees co-investments at Evolvence India Fund, focusing on healthcare, consumer, and technology. He has more than 12 years of experience in private equity (buyouts and growth) and M&A investment banking across India and the Middle East, having previously worked at Evolvence Capital, Phoenix Equity Holdings, and Bank of America Merrill Lynch. He holds an MBA from IIM Ahmedabad and a B.Tech from IIT Roorkee, and is a CFA charterholder.

Agrata Gupta· Senior Associate

Agrata Gupta is a Senior Associate at Evolvence, where she works on the firm's investments in India. She has about eight years of experience across private equity and investment banking, having joined in 2024 after roles as an investment professional at EQT (covering Tech Services and Pharma) and on the investment team at Kotak Private Equity. She started her career in investment banking at Goldman Sachs and studied at Shri Ram College of Commerce.

Nawaz Naviwala· Vice President - Investments

Nawaz Naviwala supports the core operations of the Evolvence India platform, covering investments in funds and co-investments/directs as well as investor relations. He previously worked in the finance team at Mehta Associates, handling accounting, auditing, and related financial services, and has more than six years of experience in private equity, fund operations, taxation, and auditing in India. He holds a Master's degree in Commerce and has passed CFA Level I.

Srinidhi Srinath· Ms.

Srinidhi Srinath supports the core operations of the Evolvence India platform, including investments in funds and co-investments/directs. She previously spent over two years at Investec India's Venture Advisory division, advising early-stage companies in the consumer, SaaS, and fintech sectors. She is a Chartered Accountant and holds an MBA from the Indian Institute of Management, Lucknow.

Anik Sheth· Associate - Investments

Anik Sheth supports the operations of the Evolvence Group across fund-of-funds and direct deals as well as investor relations, helping evaluate investment opportunities and prepare investment committee notes. Before joining Evolvence India, he worked in the fund accounting team at Morgan Stanley and has over five years of experience in fund operations, accounting, taxation, and auditing in India. He holds a Master's degree in Commerce, is a qualified Chartered Accountant (ACA) from The Institute of Chartered Accountants of India, has cleared the company secretary exams from The Institute of Company Secretaries of India, and has passed all levels of the CFA.

Deepak Harwani· Associate - Finance

Deepak Harwani supports finance and compliance operations at Evolvence Equity Partners. He previously worked as a Private Equity Senior Fund Accountant at Citco Shared Services Private Limited, handling accounting operations for private equity funds including NAV calculations, auditing, and investor queries. He holds a Bachelor's degree in Commerce and is a qualified ACA from The Institute of Chartered Accountants of India.

Dr. Kris Singh· Strategic Advisor

Dr. Kris Singh is the Founder, President, and CEO of Holtec International, a company he established in 1986 that supplies equipment and services for the nuclear, solar, geothermal, and fossil power generation sectors of the energy and petrochemical industry across six continents. He also serves as a Professor at the University of South Florida's Institute for Advanced Discovery and Innovation. He has published extensively in scientific journals, authored a textbook, and holds 170 US patents; he earned a Ph.D. in Mechanical Engineering and an M.Sc. in Engineering Mechanics from the University of Pennsylvania.

Geraldine Pepito· Executive Assistant

Geraldine Pepito supports administrative operations at Evolvence India. She previously held administrative roles at Al Aswaq Foodstuff Trading, Insuphil Industrial Corporation, and Cebu Steel Corporation. She holds a B.Sc. in Computer Sciences.

Gurcharan Das· Strategic Advisor

Gurcharan Das previously served as CEO of Procter & Gamble India and later as managing director of Procter & Gamble Worldwide (Strategic Planning). Before that, he was chairman and managing director of Richardson Hindustan Limited. He graduated with honours from Harvard University and attended Harvard Business School, and sits on several corporate boards.

Jonathan Franklin· Chairman of Metin Mitchell & Company

Jonathan Franklin is Chairman of Metin Mitchell & Company, an executive search firm serving Saudi Arabia and the wider Middle East. He previously spent more than 14 years at The Olayan Group, joining as Head of Investments in 2007 and serving as CEO from 2019 until his retirement in April 2021, and he continues on the group's Board and Executive Committee. Earlier in his career he spent seventeen years at JP Morgan, led investment banking for oil and gas companies across Europe, the Middle East, and Africa at Chase Manhattan Bank, and was a partner at Ernst and Young; he holds a history degree from Cambridge University.

Namit Makhija· Investments Team

Namit Makhija is part of the investments team at Evolvence Equity Partners, which he joined in 2025, where he helps evaluate opportunities across fund of funds and direct deals and supports investor relations. He previously spent close to three years in the Corporate Finance teams at Deloitte India and PwC India, working mainly on sell-side mandates in the consumer and technology sectors. He holds a bachelor's degree in Economics and International Development from the University of Bath, UK.

Pradyuman Agarwal· Analyst, Investments team

Pradyuman Agarwal joined Evolvence Equity Partners as an Analyst on the Investments team in 2026, where he evaluates investment opportunities and supports transaction execution. Before this role, he held internships at Roots Ventures, Modulus Alternatives, and Evolvence, working on sector research, investment theses, and live deals. He holds a Dual Degree (B.Tech. + M.Tech.) in Electrical Engineering from IIT Bombay and has cleared CFA Level I.

Rini Mitra· General Counsel

Rini Mitra oversees and advises on legal aspects of fund raising and investments at Evolvence India, providing operational and compliance support. She previously was a Partner heading the Investment Funds practice at Desai & Diwanji, worked as a Principal Associate in the General Corporate and Investment Funds team at Cyril Amarchand Mangaldas, and served as Associate Vice President at IDFC Alternatives Limited. She holds a B.A. LL.B. (Hons.) from Hidayatullah National Law University, Raipur, and has more than a decade of experience in fund formation, investment platforms, M&A, and private equity transactions.

Suresh Kumar· Chairman of Values Group

Suresh Kumar chairs Values Group, a private equity and M&A advisory firm serving small and medium-sized companies. He previously served as CEO of the Emirates NBD Group over a 25-year career in senior leadership roles, and established Emirates Merchant Bank Limited and Emirates Financial Services. He holds a Bachelor of Commerce (Honours) from the University of Bombay and completed executive programmes at Stanford University, the London School of Business, and Columbia Business School.

Surjit Bhalla· Dr.

Surjit Bhalla serves as the executive director for India at the International Monetary Fund. He previously worked as a proprietary trader, strategist, and portfolio manager at the World Bank, Goldman Sachs, Deutsche Bank, and Oxus Investments, and has sat on the governing board of the National Council of Applied Economic Research since 1999. He holds a B.S. in Electrical Engineering from Purdue University, an M.P.A. from Princeton University's Woodrow Wilson School, and a Ph.D. in Economics from Princeton University.

Vinesh Semlani· Vice President - Finance

Vinesh Semlani supports core operations in finance, accounting and compliance at Evolvence India. He previously worked on the fund accounting team at Basiz Fund Service Private Limited, handling PE fund accounting, auditing, NAV calculations and investor queries, and has over nine years of experience in PE and mutual fund accounting and NAV validation. He holds a Bachelor's degree in Commerce and is a qualified ACA from The Institute of Chartered Accountants of India.

Investments · 24 tracked

founders shown can be your intro path
AgTech Company Focused on Agri Inputs
AI-powered automated testing
B2B online seafood platform
Credit-led financial services platform
D2C healthcare diagnostic
Digital first cosmetic brand
Global high precision engineering solutions
Hyperlocal Delivery Service Company
India's
India's Largest Chain of Diabetes Specialities Centre
India's Largest, Unlisted Used Vehicle Financier
India's Leading Digital First Personal Care Brand
India's leading Home Interior Solutions Platform
India's premier processed food manufacturer
Indian Multinational Real Estate Company
Integrated Manufacturer of Silk Fabrics
Integrated Turn-Key Construction Services
International Information Technology Company
Loyalty Management Platform
Managed marketplace of real-life experiences
MSME-focused lending solutions
Registered NBFC Focused on MSME Financing
SaaS Based Video Editing Platform
World's Largest Internet Restaurant Platform

Frequently asked questions

What stage does Evolvence India Fund invest at?
Evolvence India Fund invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does Evolvence India Fund focus on?
Evolvence India Fund focuses on Consumer, Enterprise Software, Fintech, Healthtech, Sector Agnostic.
Where is Evolvence India Fund located?
Evolvence India Fund is headquartered in Mumbai, IN.

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