Aashwit Mahajan

Aashwit Mahajan is a Director and Co-Lead of Technology & Technology Services at Kedaara Capital, a leading operationally oriented private equity firm in India that manages over $5.6 billion in assets. He joined Kedaara Capital in January 2021, bringing over a decade of experience in private equity and investment banking across technology, consumer, financial services, and business services sectors.

Aashwit holds a Bachelor of Technology degree in Electrical Engineering from the Indian Institute of Technology, Bombay (IIT Bombay), one of India's premier engineering institutions. He furthered his education with an MBA from the Indian Institute of Management, Ahmedabad (IIM Ahmedabad), widely regarded as one of Asia's top business schools. This combination of technical and business education has equipped him with deep analytical capabilities and an understanding of both engineering fundamentals and financial principles.

His career began at Goldman Sachs in their Investment Banking Division, where he gained foundational experience in financial analysis and deal execution. He subsequently moved to Bain Capital, where he focused on investment opportunities across the Indian technology, media, telecom (TMT), and financial services sectors. In 2016, Aashwit joined Apax Partners as a Vice President in the Services team, based in Mumbai. During his tenure at Apax Partners, which lasted until early 2021, he worked on significant investments including Manappuram Finance, Lexitas, Quest Global, and L&T Finance Holdings.

At Kedaara Capital, Aashwit has been instrumental in building the firm's technology and technology services portfolio. As Co-Lead of the sector, he has been involved in major transactions including GS Lab (November 2021), K12 Techno Services (September 2023), Axtria (September 2025), and Impetus Technologies (January 2025). His role involves sourcing deals, conducting due diligence, structuring transactions, and supporting portfolio companies with strategic and operational initiatives. Kedaara Capital's investment philosophy emphasizes operational value creation, and Aashwit works closely with portfolio company management teams to drive growth and profitability.

Aashwit focuses on technology-enabled businesses and business services companies in India that demonstrate strong growth potential and market leadership in their respective niches. His investment approach at Kedaara Capital centers on identifying companies that can benefit from operational improvements, strategic guidance, and expansion capital.

Sector Preferences:

Investment Criteria:

Value Creation Approach: Kedaara Capital employs an operationally oriented investment model, with Aashwit working alongside portfolio companies to:

• Technology Services & IT Services
• SaaS and Enterprise Software
• Data Analytics & AI Solutions
• EdTech and Digital Education
• Business Process Services
• Digital Infrastructure
• Companies operating at the intersection of technology and business transformation
• Businesses leveraging data, analytics, and artificial intelligence for competitive advantage
• Market-leading or emerging leaders with defensible positions
• Opportunities for both growth equity and buyout transactions
• Focus on Indian companies with potential for domestic and global expansion
• Drive strategic initiatives and market expansion
• Enhance operational efficiency and margin improvement
• Support talent acquisition and organizational development
• Facilitate M&A and consolidation opportunities
• Leverage the firm's network of industry experts and senior advisors