Malabar Investments

Dhruva Mukherjee joined Malabar in 2017. Before Malabar, he worked as an Associate at Kalaari Capital, an early-stage VC fund, where he was responsible for deal evaluation across various sectors, and portfolio management. Dhruva completed his undergraduate degree at Indian Institute of Technology, Kharagpur, and earned an MBA at Indian Institute of Management, Ahmedabad.

Gayathri Dhevi Ramkrishnan joined Malabar in 2024. Prior to Malabar, she worked as a Global Business Analyst at Arga Investment Management, and across equity research at Bank of America (USA). Gayathri also worked as a management consultant at Boston Consulting Group. She completed her MBA at Harvard Business School, and is a member of The Institute of Chartered Accountants of India.

Yash Mehta joined Malabar in 2024. Prior to Malabar, he worked at Steinberg India Advisors, Amansa Capital (Singapore), and CLSA India in investment research and portfolio monitoring, covering the Indian equity markets. Yash is a member of The Institute of Chartered Accountants of India, and has passed all three levels of the CFA Program.

Bhavesh Dalal joined Malabar in 2023 as a member of the investment team, focusing on primary research. Prior to joining Malabar Bhavesh worked as a consultant at Asset Management firms TenCore Partners and Ruane Cunniff in the primary research space. Bhavesh graduated from KPB Hinduja College (University of Mumbai) with a commerce degree, and earned an MBA in Finance at the K. J. Somaiya Institute of Management, University of Mumbai.

Naveen Bhather joined Malabar in 2014. Prior to joining Malabar he worked with Fidelity International Limited and L&T Investment Management in operational roles; he was responsible for trade settlement, cash flow management, performance tracking, and acted as a liaison between the custodian and brokers. Naveen graduated with a degree in Commerce from Ajmer University, and is a member of the Institute of Chartered Accountants of India ("ICAI").

Farah Mahava joined Malabar in 2018 as a consultant to the Business Development team. She formerly worked as a fund manager covering the Asia Pacific region, at Sanlam Multi-Manager International (London), and prior to that, was a member of the private client team with Deloitte Wealth Management in London. Farah graduated with a Management Studies degree from the University of Nottingham (UK), and has passed all three levels of the CFA Program.

Chirag joined Malabar in February 2026 as Chief Operating Officer ('COO'). His role is to oversee Operations, Back Office, Audit, Compliance, General Administration, IT, and HR related activities. Prior to joining Malabar, Chirag was COO of HSBC Asset Management, and Head of Operations at Aditya Birla Sun Life AMC. Chirag holds a Bachelor of Commerce, Accounting degree from University of Mumbai and a Company Secretary qualification from the Institute of Company Secretaires of India.

Jhanvi joined Malabar in 2023. Prior to joining Malabar she worked with Purnartha Investment Advisors and KFIN Technologies in operational roles; she was responsible for investor services, investor & fund on-boarding, fund accounting, fund operations, and setting up new investment vehicles. Jhanvi has also worked with SS&C GlobeOp and BNP Paribas Fund Services in the Fund Accounting and Administration space. Jhanvi graduated with a degree in Commerce from Mumbai University and is a member of the Institute of Chartered Accountants of India ("ICAI").

Nilesh Phondke joined Malabar in 2014 to support the Business Development team. Prior to joining Malabar, he was Manager of Human Resources at Baldota Institute, which is a part of Global Hospitals. Nilesh graduated with a degree in Commerce from Mumbai University, and earned his Diploma in HR from Welingkar Institute.

Pratiksha Kotian joined Malabar in 2022 with a dual focus of supporting Investor Services and Office Administration. Prior to joining Malabar, she worked as an Executive Assistant at Jet Airways and its subsidiary, Filmstoc. Pratiksha graduated from Mumbai University with a Masters in Management Studies (Human Resources).

Nerissa Fernandes joined Malabar in 2024 as the Office Manager. Prior to joining Malabar, she worked at Canara Robeco as an Executive Assistant to the COO. Nerissa graduated from Mithibai College of Arts, with a Bachelor of Arts degree.

Steven Leischner has been a principal of Holding Capital Group ("HCG") since 1983. He is currently the CFO of various HCG related entities and oversees HCG's finance, accounting, administration, and recruiting. He is an officer and board member of several of HCG's portfolio companies and is active in managing HCG's investments. Steven received his BS (cum laude) in Accounting and Business Administration from Wagner College and attained his Certified Public Accountant certification in 1982.

David Broser has been President of RDA Ventures, LLC since 1993. He has helped RDA invest in over 30 companies in a variety of industries. Over the last few years, David has also helped RDA provide strategic capital to select hedge funds. David received his Law degree from Boston University, and a BBA from the University of Michigan.

Carl Oppenheimer is Managing Partner of Oppenheimer + Close, an investment advisory firm. Prior to joining Oppenheimer + Close, he was a Principal at Milestone Venture Partners, and before that he was a Manager in the Business Development department of Sears, Roebuck and Company, where he focused on strategic M&A transactions. In April 2010 Carl was elected to the FINRA District 10 Committee. Carl received a B.A. from St. Lawrence University, and an MBA from the University of Chicago.

James Donaghy joined Holding Capital Group ("HCG") in 1978. In addition to being an owner and an officer of Holding Capital Group companies, he serves as President of HCG's primary investment entities, and is President of Holding Capital Asset Management, LLC. James holds an MBA, is a Certified Public Accountant, and served in the U.S. Marine Corps from 1968 to 1972.

Brian Cooper has been investing in the middle/lower-middle markets over the past 20+ years and has led over 30 M&A transactions. Currently, Brian is a Partner at Windsong Global and a member of Windsong's investment and executive committee. Brian also serves as an Operating Partner at Tengram Capital Partners, a consumer-focused private equity firm. From 2020 to 2022, Brian led the acquisition and subsequently served as CEO of Daytona Apparel, a $150M sock and sportswear supplier, leading a distressed turn-around effort that led to a successful sale to a large strategic. Prior to joining Windsong, Brian was a Partner at Atlantic Street Capital, an operationally driven, hands-on private equity firm that partners with entrepreneurs in the lower middle markets. Prior to joining Atlantic Street Capital, Brian was a Vice President at Gordon Brother's private equity arm, where he invested in the retail and consumer sector. Brian started his career at Financo (currently a subsidiary of Raymond James), a boutique investment bank focused on serving the consumer sector. Brian received a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.