Private Markets

Anand has 25+ years of experience across India and Australia, of which 15 years is in private equity funds management in India. He joined NIIF in 2018 and is currently the Managing Partner of NIIF’s Private Markets business. At NIIF, he is currently responsible for developing and executing the strategy specific to Private Markets business, which is diversified fund investing and co-investments into various sectors and strategies through third party fund managers. Prior to joining NIIF in March 2018, Anand was a senior member of Macquarie Infrastructure and Real Assets (MIRA) team in India for about 10 years and has been involved in several direct and fund investments in sectors such as roads, power, renewable energy and real estate. He was part of the core team that established MIRA’s infrastructure funds management business in India in 2008 and was actively involved in raising and deploying a USD 1.2 Bn India dedicated infrastructure fund. During his tenure with MIRA, in addition to his involvement with investments and his role on the Investment Committee of the India dedicated fund, Anand held many roles including head of finance, head of operations and an active role in fundraising for MIRA’s India fund and a broader Asia fund. Before MIRA, Anand worked with KPMG for over seven years in India and Australia, in the audit and financial advisory services divisions. During this period, Anand primarily worked with large clients primarily in the consumer, industrials, pharma and media and entertainment sectors. In the early part of his career, Anand has also worked with Universal Music Group in Mumbai as their Finance Manager for the India business. Anand holds a Bachelor of Commerce and is an Indian Chartered Accountant. He has also completed his Certified Public Accountancy (US).

Krupa has over 16 years of experience across fund of funds, private equity and investment banking. He joined NIIF’s Private Markets team in Mumbai as a Principal in February 2021, and is responsible for developing the deployment strategy of the Funds, identifying and evaluating prospective fund managers, and managing the portfolio along with the team. Prior to joining NIIF, he was part of the Asia Equity team managing DEG’s ~USD 1 Bn Asia portfolio with investments spanning LP positions, direct equity investments, and co-investments, with a focus on the South Asian region. Earlier in his career, Krupa has worked with MCap Fund Advisors – an India focused, sector agnostic private equity fund manager, and at o3 Capital – a boutique advisory firm focused on M&A and Private Equity. He started his career in finance with YES Bank’s corporate banking division. His overall experience ranges from corporate banking, investment banking, GP and LP positions, across Indian and global institutions, giving him a well-rounded perspective on the Indian market, and a deep network of relationships. Krupa is a CFA Charterholder, holds a Post Graduate Diploma in Management from the Indian Institute of Management (IIM), Lucknow, and has also holds a Bachelor of Engineering (Hons) in Electronic and instrumentation from Birla Institute of Technology and Science (BITS), Pilani.

Ankit has over 16 years of experience across fund of funds investing, investment banking and business management. He joined the firm in August 2018 with the Private Markets Team and is based out of Delhi office. Ankit has played a key role in building out Private Markets fund strategy and investment portfolio. Prior to joining NIIF, he spent 3.5 years with Moody’s Analytics Knowledge Services as a part of their business development team covering investment banking vertical where he led and won several client accounts. Prior to Moody’s, Ankit was in London with BII (erstwhile CDC) South Asia Fund of Funds investment team. At BII, Ankit was part of the team responsible for making new commitments in South Asia as well as overseeing existing portfolio of 60+ funds with commitments of over USD 2.4 billion across Asia. Ankit started his career in Investment Banking with Nomura, UK in 2010 and was based out of their London office as a part of their EMEA Industrial M&A team. At Nomura, he was involved in several marque cross border M&A transactions, totalling up to over USD 1 billion. He was also involved in varied origination activities ranging from acquisition financing to ECM and DCM offerings for Industrial clients across Europe. Ankit holds a Master’s in Science degree in Management from Imperial College Business School, London, UK and a Bachelor in Mechanical Engineering from Manipal University, Manipal, India.

Rini has 15 years of experience in private investing and investment banking. Rini joined the firm in February 2025 as a Principal in NIIF’s Private Markets team, based in Mumbai. She is responsible for evaluating new opportunities including co-investment opportunities along with its fund managers. Prior to joining NIIF, she worked with Lok Capital, focussing on investments and exits in financial services and agri/ consumer businesses. Apart from investing, she held the responsibility of building relationships with larger ecosystem of founders, bankers and other equity funds. Earlier in her career, Rini held roles at Aavishkaar Venture Management Services and Nomura across investing and investment banking. Rini is an MBA from Narsee Monjee Institute of Management Studies, Mumbai and has a Bachelor's degree from Hindu College in Economics. She has also completed Level I and Level II of the CFA program of CFA Institute, USA.

Tamanna has over 12+ years of experience across private equity, fund investments and fixed income. She joined NIIF as an Associate with the Private Markets team in May 2020. Based in Mumbai, she is responsible for evaluating investment opportunities and managing portfolio investments and is primarily focused on venture capital/technology investments. Prior to joining NIIF, Tamanna was associated with J.P. Morgan as a part of the Private Equity & Private Real Assets Investment due diligence team. During her nine-year stint with the firm, she conducted research and diligence on funds based in USA, Emerging Markets and Asia across various Private Equity and Real Assets strategies. She started her career journey with J.P. Morgan in March 2011 as an Investment Portfolio Specialist with the Fixed Income products and strategies team. Tamanna holds an MBA from ICFAI Business School (IBS), Mumbai and Bachelor of Management Studies (BMS) from S.I.E.S College, Mumbai. She has also passed level II of the CFA program.

Apoorv has close to 13 years of experience across private equity, corporate finance and consulting. He joined NIIF in September 2019 and is based out of the Mumbai office. As part of the Private Markets Team, Apoorv is responsible for evaluating private equity opportunities across both funds and co-investments. Prior to joining NIIF, Apoorv was associated with KPMG India, where he spent 6 years across Corporate Finance, Valuations and Tax Advisory. He is also a former state-level cricket player and has represented the Mumbai Cricket Team at the junior levels during his 8-year professional cricket career. Apoorv holds an MBA from Indian School of Business, Hyderabad. He is also a CFA Charterholder and a CAIA Charterholder.

Ishita has approximately 5 years of experience across valuations, financial services and fund investing. Ishita joined NIIF as an Analyst in April 2020 with the Private Markets team and is based out of the Mumbai office. She is responsible for evaluating investment opportunities and monitoring existing portfolio commitments primarily focused on early growth and venture capital. Prior to joining NIIF, she worked with Duff and Phelps for close to 11 months in the valuations team conducting post transaction valuation of assets held by private equity clients globally. Previously, she has also spent time at TresVista Financial Services for almost a year where she worked on deal evaluations and industry research across sectors for private equity clients in U.S. and U.K. Ishita holds an MBA from Indian School of Business and BBA with Finance major from NMIMS, Mumbai.

Akshita is an Analyst in NIIF’s Private Markets team, based in Mumbai. She is responsible for evaluating investment opportunities and monitoring existing portfolio commitments. Prior to joining NIIF, Akshita worked for a year as an Equity Analyst and has experience across equity research and portfolio management. She holds an MBA from XLRI, a B.Com. (Hons) with finance major from St. Xavier's College, Kolkata and has cleared the Intermediate level of the Chartered Accountancy Course.

Khushboo is an Analyst in NIIF’s Private Markets team, based in Mumbai. She previously worked at Deutsche Bank, where she spent over 2 years supporting clients across various sectors on high-value M&A and financing transactions. Prior to this, she worked with Marquee Equity in New Delhi. She holds an MBA from the Indian Institute of Management, Indore and a B.Sc. (Hons) in Statistics from Hindu College, University of Delhi.

Khushi has 3 years of experience across financial services and investment research. She joined NIIF as an Analyst with the Private Markets team in 2026 and is responsible for evaluating investment opportunities and monitoring existing portfolio commitments. Prior to joining NIIF, she worked at JPMorgan Chase and KRIIS Portfolio Management Services. Khushi holds an MBA from the Indian Institute of Management Lucknow, a BBA in Finance from NMIMS, and has cleared the CFA Level I examination.

Prakhar Jain is a Research Analyst in NIIF’s Private Markets team, based in Mumbai. He has previously interned with the Private Markets team and prior to joining NIIF, he worked as an Analyst at Acuvon Consulting. Prakhar holds a Bachelor's degree in Engineering from the Delhi Technological University.

Shahzad Tata is a Research Analyst in our Private Markets team, based in Mumbai. Shahzad joined NIIF from Houlihan Lokey and brings over two and a half years of experience across investment banking and portfolio valuation, including prior experience with Mavuca Capital Advisors. He holds a bachelor's degree from R. A. Podar College of Commerce and Economics.

Betsy Vincent A. works closely with the Private Market Fund Investment Team and EMSD team, PMF Portfolio funds and its Portfolio companies at the corporate level and asset level. Betsy brings with her over 20 years of work experience in climate change and sustainability and has headed sustainability in consulting and in organisations such as the Future Group, and in recent capacity, The Leela Palaces, Hotels and Resorts. Another 8 years of her work has been in core marketing. She holds a master’s degree in management studies from Mumbai University, a post graduate diploma in Environmental Law and Policy, an Executive Programme in Corporate Sustainability from IIM Calcutta, and an International General Certificate in Occupational Health & Safety (NEBOSH, UK).

Rakhee is a Vice President in the ESG team, based in Mumbai. She has over 20 years of varied experience working in the environmental domain, including Environment/EHS Auditing, Environment Monitoring, Environment Clearance (EIA), Water & Wastewater and Sanitation Sector, and Greenhouse Gas (GHG) accounting (including training and capacity building).Rakhee is responsible for ESG integration for the Private Markets portfolio through pre-investment diligence, post investment EHS monitoring and performance review, ESG risks and opportunities assessments including interactions with relevant stakeholders.Prior to joining NIIF, Rakhee worked with organizations like UNICEF & Public Health Engineering Department (PHED), National Environmental & Engineering Research Institute (NEERI), JM EnviroNet, Synergy Engineering & Environmental Solutions, Green Circle Consultants India Pvt. Ltd. and International Certification Services on different sectors like Infrastructure, Cement, Iron and Steel, Pharmaceutical industries, Power Plant, etc. She is a certified lead EMS (ISO 14001) auditor having conducted many Environment Management System (EMS) & Integrated management system (IMS) audits across diversified sectors. She was an EIA coordinator for Building and construction projects sector and Functional Area Expert for Air and Water Pollution Monitoring, Prevention and Control (AP and WP), approved by NABET, a government accreditation agency.Rakhee is a postgraduate in Environmental Sciences and M. Phil in Energy & Environment from Devi Ahilya University and has a Certificate in GRI Reporting from KPMG.

Arati joined NIIF as an Executive Assistant in September 2019 and is currently based out of NIIF Mumbai office. Prior to joining NIIF, Arati was associated with General Atlantic India as an Executive Assistance for 1.5 years. She has worked with companies like Financial Technologies Pvt Ltd, Grand Hyatt, ITC Grand Maratha Sheraton. At Financial technologies she worked as an assistant manager administration for the Chairman office for a span of 6 years. At Grand Hyatt, she worked at the frond rest at an Assistant Manager- Front Desk. She has also worked at ITC Grand Maratha as a Guest Relation Executive for a span of 5 years. Arati started her career with ITC grand Maratha Sheraton in 2000. She holds a Bachelor in Commerce from the University of Mumbai.