Cat II · Managed by Vixar
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Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Arpwood Partners Fund I is a Category II private equity AIF managed by Ascentios Advisors Private Limited, the investment manager to funds sponsored by VIXAR (formerly Arpwood Partners). VIXAR is a mid-market control-oriented private equity firm founded in 2014 and inspired by the legacy of Vikram Sarabhai. The firm focuses on founder and family-owned businesses, partnering with professional entrepreneurs to build market-leading institutions. Since 2015, the firm has invested in over 6 family-owned companies across financial services, consumer QSR, and other sectors, with a notable partial and full exit from SBFC Finance via its IPO in 2023–24. The firm rebranded from Arpwood Partners to VIXAR in late 2025.
Amol Jain
Partner, Investment Advisory Team
Amol Jain is a Partner and founding member of the VIXAR (formerly Arpwood Partners) investment advisory team, with the firm since its establishment in 2014. He was previously a Managing Director with Texas Pacific Group (TPG) between 2005 and 2014, where he helped build the TPG India franchise and led investments in Shriram Transport, Shriram City Union Finance, and Vishal Retail — the first distressed buyout by a financial sponsor in India. Prior to TPG, he worked at DSP Merrill Lynch between 1999 and 2005, leading the Financial Sponsors group and overseeing PE transactions including ICICI Ventures' investment in Tata Infomedia and TPG's investment in Matrix Labs. He began his career at IL&FS in 1996. He holds a BE in Electrical Engineering from IIT Bombay and an MBA from IIM Ahmedabad.
Manoj Dengla
Partner, Investment Advisory Team
Manoj Dengla is a Partner and member of the VIXAR investment advisory team, with the firm since 2017. He was a Director at The Carlyle Group between 2005 and 2017, setting up Carlyle's India franchise and leading investments in HDFC, India Infoline, PNB Housing Finance, and SBI Cards. He also set up the renewable energy investing franchise at Goldman Sachs' Special Situations Group (2004–2005), leading investments into SunEdison and Horizon Wind. Prior to Goldman Sachs, he worked with ICICI Bank's leveraged finance and structured finance division and Hindustan Unilever. He is an all-India rank Chartered Accountant and holds MBAs from IIM Ahmedabad and Harvard Business School, where he graduated as a Baker Scholar with High Distinction.
Kazi Arif Uz Zaman
Whole-Time Director, Ascentios Advisors Private Limited
Kazi Arif Uz Zaman is a Whole-Time Director of Ascentios Advisors, the investment manager to funds sponsored by VIXAR. He is also a partner at GestAlt Network, a Bangalore-based investment partnership. Prior to co-founding GestAlt Network in 2017, he served as Managing Director at Everstone Capital for over 9 years and as Associate Director at ICICI Venture. Before private equity, he worked with ANZ Grindlays Bank / ANZ Investment Bank for about 9 years. He holds a BE in Electrical Engineering from IIT Kharagpur and an MBA from IIM Ahmedabad. He has been a CFA charterholder since 2001 and was a founder director of the CFA India Society.
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Manoj Jain
Whole-Time Director, Ascentios Advisors Private Limited
Manoj Jain is a Whole-Time Director of Ascentios Advisors. He is a seasoned IT professional with close to 20 years at Microsoft India, working on global products including Windows, Windows Server, Azure, and Bing. He has multiple patents across various technologies. He has co-founded two startups in EdTech and FinTech. He holds a BE in Computer Science Engineering and an MBA from IIM Ahmedabad.
Achal Khanna
Whole-Time Director, Ascentios Advisors Private Limited
Achal Khanna is a Whole-Time Director of Ascentios Advisors and CEO of SHRM India and Business Head for Asia Pacific and MENA. Previously Managing Director of Kelly India, and Vice President at GE managing business development for NBC and Consumer Industrial across India, China, Hungary, and Mexico. Earlier she was Country Manager for Polaroid India. She has also worked with DuPont, ITC, and Cosmo Group. She holds a BA in Economics and an MA in English Literature and Business Management.
Amit Deshmukh
Chief Financial Officer, Ascentios Advisors Private Limited
Amit Deshmukh is the CFO of Ascentios Advisors. He was previously CFO for Yes Bank AMC and HSBC India's AMC. His career in Indian financial services also includes Bharti AXA, Fidelity India, Standard Chartered Bank, and Kotak Securities. He is a qualified Chartered Accountant and Cost Accountant.
Adesh Kumar
Head ESG / Vice President
Adesh Kumar leads ESG monitoring and compliance at VIXAR, with the firm since 2023. He worked with CBRE-ExxonMobil between 2020 and 2023, managing environmental risks across ExxonMobil India sites. Prior to CBRE, he worked with GE Healthcare across manufacturing, supply chain, and sales. He has conducted over 90 audits across EHS, labour, and supply chain security in oil & gas, power, healthcare, and consulting sectors. He holds a BE in Biotechnology Engineering from MSRIT Bangalore and an ME in Environmental Engineering from NITK Surathkal.
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