We use cookies for analytics and ads to improve your experience. You can accept or decline. See our Privacy Policy.
Building Sustainable, Market-Leading Enterprises.
Kedaara Capital is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/12-13/0020), registered in November 2012 as the inaugural fund of Kedaara Capital Advisors LLP (LLPIN: AAA-6840, incorporated 11 December 2011) — one of India's most prominent operationally-oriented private equity firms. Co-founded by Manish Kejriwal (formerly of Temasek Holdings, McKinsey), Sunish Sharma, and Nishant Sharma (both formerly of General Atlantic, McKinsey), Kedaara was established with a minority stake from Clayton, Dubilier & Rice (CD&R) — the pioneering global PE firm whose investment model blends financial skills with operating expertise. This SEBI AIF registration (IN/AIF2/12-13/0020) corresponds to Kedaara Capital Fund I, the firm's first domestic fund vehicle registered with SEBI. Subsequent funds are structured as: Fund II ($750M, 2016), Fund III ($1.08B, 2020–21, LEI LLPIN 'Kedaara Capital Growth Fund III LLP'), and Fund IV ($1.73B, closed April 2024 — India's largest India-focused PE fund close). Total AUM managed or advised by the investment team is approximately $5.6 billion across all vintages. The investment manager is registered at Unit No. 2301, 23rd Floor, Altimus, Pandurang Budhkar Marg, Mumbai 400018. The SEBI Fund I registration address was at Sunshine Tower, Parel, Mumbai 400013 — the earlier office before the move to Altimus, Worli. Kedaara has 68 team members, 35 portfolio companies, and 11 IPOs across its fund vintages.
Kedaara was founded on a simple premise: market-leading businesses are built with sound strategy, driven entrepreneurs, and a commitment to operating excellence. The firm pursues primarily control and minority investments in growth-oriented businesses in India across financial services, consumer, technology & tech services, and pharma & healthcare. Kedaara combines the strengths of a well-networked, highly experienced local investment advisor with the operating expertise of its strategic partner CD&R, whose model blends financial skills with operational transformation. A distinctive feature of Kedaara's model is the use of senior operating partners — ex-CEOs hired as Partners who work directly with portfolio companies to enhance capability, drive sales growth, and execute transformation. Kedaara deliberately stays in India's middle market (target ticket ₹150–200M), maintaining a European waterfall for carried interest to ensure team alignment and faster distributions. The firm targets high-quality businesses with defensible market positions, strong management teams, and clear paths to category leadership. Total AUM is ~$5.6 billion.
Manish Kejriwal
Founder & Managing Partner
Manish Kejriwal is the Founder and Managing Partner of Kedaara Capital. He co-founded the firm in 2011 with Sunish and Nishant Sharma after serving as Senior Managing Director of Temasek Holdings, where he founded Temasek's India office in 2004. Prior to Temasek, he was a Partner at McKinsey & Company in India. He holds an A.B. (magna cum laude) from Dartmouth College and an MBA from Harvard Business School where he was a Baker Scholar. He serves as Lead Independent Director at Bharti Airtel and on the boards of Bajaj Finserv Limited and Bajaj Holdings & Investment Limited. He was a member of SEBI's Alternative Investments Policy Advisory Committee and is named on Hurun India Rich List 2023 with an estimated net worth of ₹3,000 crore. Young Global Leader (WEF 2005); 'Hot Young Executives' by Business Today (2007).
Sunish Sharma
Co-Founder & Managing Partner
Sunish Sharma is a Co-Founder and Managing Partner of Kedaara Capital Advisors LLP. Prior to Kedaara, he served as a Managing Director at General Atlantic from 2004, where he was a senior member of the India investment team in technology, financial services, consumer, and pharma. Before GA, he worked at McKinsey & Company. He is an MBA gold medallist from IIM Calcutta and graduated with honours from Delhi University. He was profiled as one of the '25 Hottest Young Executives Below 40 in India' by Business Today in 2011.
Nishant Sharma
Co-Founder & Managing Director
Nishant Sharma is a Co-Founder and Managing Director of Kedaara Capital Advisors LLP. Prior to Kedaara, he served as a Principal at General Atlantic from 2006, focused on business services, financial services, and healthcare. Before GA, he worked at McKinsey and the Bill & Melinda Gates Foundation (setting up India's largest HIV/AIDS prevention program). He holds an MBA from Harvard Business School and an M.Tech + B.Tech in Biochemical Engineering and Biotechnology from IIT Delhi.
No insights published yet.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.