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A-913, 9th Floor, Kanakia Wall Street, Andheri - Kurla Rd, Chakala, Andheri East, Mumbai, Maharashtra 400093
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Deepank Bhandari

Partner

Deepank is a Partner at S45, where he is focused on bridging the gap in India's capital markets and empowering the next generation of high-growth businesses. With 14 years of experience spanning investment banking, private equity, quick commerce, fintech, supply chain management, and actuarial sciences, he brings a deep understanding of capital markets, scaling businesses, and financial innovation.

A B.Tech graduate from IIT Delhi and a postgraduate in finance from ESCP Europe, Paris (Grand École), Deepank has held pivotal roles at Blinkit, 1Mg, BNP Paribas, and Alcazar Capital. He is also the founder of Dexif, a fintech startup that raised $5 million in its seed round last year, establishing itself as a key player in wealth-tech and structured finance solutions.

The Mission Behind S45

“The real superheroes of our nation are the founders of Micro, Small, and Medium Enterprises (MSMEs)—businesses that contribute 30% of India's GDP and provide livelihoods to over 110 million people."

India is home to exceptional entrepreneurs who have built efficient, scalable businesses, often bootstrapped, ready to expand beyond borders. Yet, many struggle to secure structured capital market support—the missing piece that could unlock their full potential.

Not every company is built to be a unicorn, but there are countless businesses poised to scale to $100–200 million enterprises, evolving into India's next blue-chip giants.

A Personal Journey to a Larger Mission

This mission is deeply personal. While scaling one of my ventures, we identified key growth levers and expanded 10x, reaching $60 million ARR. Yet, we faced significant challenges:

     -     Not “tech-first” enough for new-age VCs.
     -     Not "big enough" for institutional investors.
     -     Not willing to dilute ownership for private equity.

However, with the right capital backing and strategic focus, we overcame these obstacles and unlocked exponential growth.

Enabling 1,000 Entrepreneurs

Through S45, my goal is clear: to empower 1,000 entrepreneurs like me over the next 4–5 years, giving them the capital, strategic direction, and operational backing they need to scale and thrive.

India’s economic future isn’t just about creating more unicorns—it’s about building a robust ecosystem of sustainable, high-growth companies. At S45, we are here to make that happen.
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Tushar Sharma

Partner

Tushar is a Partner at S45, bringing 16+ years of experience across finance, technology, blockchain, and manufacturing. His career has been shaped by a deep understanding of capital markets, entrepreneurship, and emerging technologies, making him a valuable partner for businesses looking to scale efficiently.

He currently co-leads the fixed-income business at Dexif Securities, where he and Deepank are working to solve structural inefficiencies in India's debt capital markets. In a short span, Dexif has emerged as a leading player, collaborating with some of India’s most respected financial institutions and banks.

A firm believer in the economic impact of capital markets, Tushar started his career at JPMorgan and Morgan Stanley in London, navigating the 2008 global financial crisis firsthand. He later worked as a market-maker in index derivatives, first for European hedge funds and then in India.

His early recognition of disruptive technologies led him to the blockchain space in 2014, where he collaborated on Bitcoin applications with the founders of Chess.com, well before crypto became mainstream.

Beyond finance and technology, Tushar is a strong advocate for the Make in India movement. He built and ran a vertically integrated D2C consumer brand with in-house manufacturing, gaining hands-on experience in cash flow management, workforce operations, supplier relationships, marketing, and customer acquisition. This experience has deepened his understanding of what it truly takes to build and scale a business from the ground up.

At S45, Tushar focuses on bridging the gap between capital, strategy, and sustainable growth, offering patient, practical, and strategic insights to entrepreneurs. His multi-sector expertise allows him to work closely with high-potential businesses, helping them navigate challenges and scale effectively in competitive markets.
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Pankaj Harlalka

Partner

Pankaj is a Partner at S45, bringing over 22 years of experience in capital markets, merchant banking, and corporate advisory. A Company Secretary by qualification, he began his career with Dolphin Laboratories before transitioning into merchant banking at Microsec India Limited in 2003.

Throughout his career, he has played an instrumental role in over 16 Initial Public Offerings (IPOs) on the main board, executed 25+ takeovers, and led numerous rights issues, buybacks, mergers, and demergers, successfully listing companies across various exchanges.

Pankaj has worked closely with some of East India’s largest listed corporates, including Ramkrishna Forgings, Rupa Limited, Emami, Haldia Petrochemicals, and Centuryply. More recently, he was part of the Investor Relations team at Shyam Metallics and Energy Limited, gaining deep insights into corporate growth strategies and market dynamics.

Over the years, he has closely observed the factors that drive long-term growth and stability, as well as the missteps that have led once-promising companies to decline. His expertise lies in advising mid-sized companies on capital raising, M&A strategy, and long-term value creation. He has been instrumental in facilitating equity raises through private equity and public markets, helping businesses unlock new opportunities for scale and expansion.

With a strong belief in empowering passionate, high-potential founders, Pankaj has joined forces to build S45, with a vision to reshape the capital landscape for India’s small and mid-sized enterprises. At S45, he focuses on guiding businesses through strategic growth initiatives, identifying acquisition targets, and unlocking capital market access to fuel sustainable expansion.
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Aman Singh

Partner

Aman is a Partner at S45, where he focuses on investing in and scaling high-growth businesses. His journey has been shaped by a deep entrepreneurial and operational background, having built, scaled, and advised companies across fintech, consumer tech, and enterprise technology.

He founded SayF during his pre-final year at IIT Delhi, growing it into a venture-backed company that grew into a multi-million dollar business footprint. Following this, he worked directly with the founders of a Bay Area-based SaaS startup backed by Khosla Ventures, driving strategic initiatives and growth operations.

His experience spans building from scratch, navigating fundraising, establishing growth levers, and executing at scale. Through these ventures, Aman developed a firsthand understanding of operational challenges, capital efficiency, and sustainable growth strategies.

Perspectives & Principles

Having grown up in an Indian Army household, adaptability and resilience have been core to my approach. Over the years, a few guiding principles have shaped how he thinks and operate:

     -     It's often better to make a poor decision quickly than the best decision too late
     -     Prioritize people in everything you do; It pays off in the long run
     -     Majority advices are just a series of Barnum–Forer effect
     -     Always bet on yourself & don't forget your roots
     -     Life is too short to work on things that are purposeless

At S45: Partnering with Founders for Growth

As a Partner at S45, his focus is on empowering ambitious entrepreneurs—providing capital, strategic direction, and operational support to help them scale efficiently and build enduring businesses. Having been a founder myself, he understands the nuances of fundraising, product-market fit, and navigating growth challenges. He works closely with entrepreneurs to help them unlock strategic opportunities, optimize execution, and create long-term value.

Outside of work, he enjoys traveling, meeting interesting people, breaking down long-form essays, and reading non-fiction.
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Devika Khandelwal

Fractional CMO

Devika has spent the past five years at the crossroads of media and technology, building brands and global networks. She launched her podcast in 2019, led community growth at a blockchain startup in New York, and served as CMO at a venture capital firm—honing her expertise in digital storytelling and brand amplification.

As a fractional CMO, she blends media strategy with business acumen, helping S45’s portfolio companies scale from local to global. Her experience spans growth strategy, brand positioning, and capital-efficient marketing—all critical for India's ambitious SME sector.

Her approach aligns with S45’s founder-first philosophy, driving measurable impact for growth-stage enterprises through collaborative, resource-efficient marketing strategies.
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Abhishek Bhanushali

Principal, Private Investments

Abhishek is a Principal, Private Investments at S45, bringing a unique blend of finance, trading, and technology to the world of capital markets. His expertise spans alternative investments, proprietary trading, and investment banking, with a strong focus on data-driven decision-making and automation.

His journey began at Edelweiss, where he advised HNIs and UHNIs on Alternative Investment Funds (AIFs) and Portfolio Management Services (PMS). Though a short stint, it provided him with an intensive learning curve in high-stakes investing.

Driven by a passion for trading and risk management, he founded AR Quants, a proprietary trading desk that scaled from zero to ₹20 crore in AUM within just three months. Specializing in derivatives trading on the MFT side, he eventually grew the portfolio to $5 million, establishing a strong foothold in the space.

During the COVID era, Abhishek launched Iris Capital, an investment banking boutique specializing in Series C to pre-IPO deals. He successfully executed large-scale transactions while building a deep network of investors, helping companies secure critical late-stage funding.

Along the way, he transitioned from finance to coding, teaching himself how to automate trading systems and integrate technology into investment strategies. This fusion of numbers and tech has allowed him to optimize trading execution, improve risk models, and drive efficiency in capital markets.

As a Principal, Private Investments at Dexif, Abhishek applies his deep market expertise to identify, evaluate, and scale high-potential investment opportunities. More than just an investor, he has always been on the business side—ensuring profitability from day one in every venture he has built.

When he’s not structuring deals or refining trading algorithms, you’ll likely find him riding waves—because adventure isn’t just for markets.
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Achin Goyal

Principal, Investments

Achin is a Principal, Investments at S45, bringing over five years of experience in private equity and investment banking. His expertise lies in identifying high-potential investment opportunities, structuring deals, and driving value creation for growth-stage businesses.

Before joining S45, Achin was an Associate on the investment team at Affirma Capital, where he worked extensively on private equity investments, due diligence, and portfolio management. Prior to that, he began his career as an Investment Banking Analyst at Arpwood Capital, gaining hands-on experience in M&A transactions, financial modeling, and strategic advisory.

A graduate of the Indian Institute of Technology, Delhi, with a Bachelor’s degree in Engineering, Achin combines analytical rigor with a deep understanding of capital markets and investment strategies.

At S45, he is focused on empowering ambitious entrepreneurs, ensuring they have the right capital, strategic direction, and operational support to scale efficiently and build enduring businesses.
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Rajesh Agrawal

Fractional CFO

Rajesh   Agrawal   is   a   Fellow   Chartered   Accountant   and   a   seasoned   strategic   financeprofessional with over 25 years of experience across financial structuring, strategic advisory,business transformation, financial due diligence, forensic audits, and performance reviews. Heis widely recognized for his sharp execution capability and deep understanding of complexfinancial environments impacting mid-market and growth-stage enterprises.

Throughout his career, Rajesh has worked closely with entrepreneurs, family-led businesses,and   emerging   corporates,   advising   them   on   capital   raising,   financial   restructuring,   andstrategic realignment. He has played a pivotal role in transforming mid-sized companies intoscalable, investor-ready enterprises, guiding them through critical inflection points such asfunding rounds, expansion plans, and regulatory compliance.

With a strong belief in founder-focused advisory and execution-led outcomes, Rajesh leadshigh-impact mandates in corporate strategy, fund syndication, forensic audits, financial duediligence, and investor readiness. His approach is built on integrity, insight, and long-termvalue creation — enabling businesses to scale with structure and sustainability.

Rajesh’s early professional journey includes overwhelming professional career as partner inreputed audit firms across India and Nepal, where he led high-profile assignments for globaland   multilateral   clients   such   as   the   World   Bank,   Asian   Development   Bank   (ADB),   andcorporates like Larsen & Toubro, Siemens AG, Impregilo SpA, Dywidag International, andJesons Industries.

A  respected   voice   in   the   industry,   Rajesh   has   also   built   a   strong   reputation   in   the   foodprocessing sector, both as a strategic finance professional and an entrepreneur. His hands-onleadership across operations, finance, and growth strategy has shaped multiple successfulventures in agro and food businesses. He has been recognized with awards such as “TimesEntrepreneur in the Agro Food Industry” and “The Think Tank of the Industry”, highlighting hisforesight and impact on India’s agro and wheat milling ecosystem
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Rajesh Agrawal

Partner

Rajesh is a Partner at S45, where he brings over two decades of capital markets leadership to help high-growth businesses align financial performance with strategic storytelling, access to capital, and market trust.

A seasoned investor and capital markets strategist, Rajesh has advised more than 80 public companies, partnering with CXOs and boards to navigate financial events, investor sentiment, and capital strategy. His expertise spans investor relations, structured finance, corporate strategy, and debt markets—helping organizations communicate value with clarity and confidence.

Before S45, Rajesh was CEO of Stellar IR Advisors. He also held a senior leadership role at Orient Capital, (a MUFG group company), scaling investor engagement platforms and aligning capital flows with long-term vision. Earlier, he co-founded Cleaon IR and also led investor relations at UFlex Ltd., managing global outreach and financial narratives. His journey includes leadership in Treasury and DCM at Capri Global, along with earlier stints at Reliance Capital, Pfizer, and Bayer— giving him a 360° perspective across finance, strategy, and stakeholder engagement.

Bridging Performance & Perception

"Capital markets reward clarity as much as performance. The right message, at the right time, with the right intent—can move more than just markets. It moves confidence."

Rajesh thrives at the intersection of finance, strategy, and communication. Whether structuring debt instruments or managing earnings cycles, he ensures business value is amplified—not lost—in translation. His holistic understanding of both institutional and public market dynamics makes him a trusted advisor to founders seeking sustainable, long-term growth.

At S45, Rajesh works alongside entrepreneurs to sharpen financial strategy, elevate investor readiness, and build market credibility. He partners closely with founders to prepare them for scale—optimizing capital structures, refining narratives, and aligning execution with investor expectations resulting in access to capital through his network of investor relationships across AIFs, Family offices, DIIs etc. His mission at S45 is to help entrepreneurs unlock strategic capital, scale efficiently, and build institutional-grade governance and market credibility from Day 1.

Rajesh practices Ghatastha Yog as a way of life, grounding his leadership in mindfulness and discipline. He's also an avid traveller and home chef, always exploring new cultures and cuisines with curiosity and joy.
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Ritesh Bhargava

Head of Distribution

Ritesh is the Head of Distribution at S45, where he brings over 25 years of financial markets expertise to help high-growth businesses develop comprehensive financial strategies, access specialized investment solutions, and build sustainable wealth creation frameworks.

A seasoned financial strategist, Ritesh has navigated all facets of the financial ecosystem, from equity broking and wealth management to structured products and real estate investments. His entrepreneurial approach has empowered HNIs, MSMEs, and growth-stage businesses to optimize capital allocation, mitigate risks, and capitalize on strategic opportunities across market cycles.

Before S45, Ritesh held leadership positions at premier financial institutions including IIFL Securities and SMC Advisory, where he facilitated high-value transactions and built robust wealth management frameworks. He spearheaded multi-regional business operations at Narnolia and Indiabulls, establishing profitable centers across North India. Throughout his journey, Ritesh has cultivated deep relationships with major financial distributors including Motilal Oswal, IIFL, Prudent, Bonanza, SMC, and LKP—building an extensive network that spans the entire financial ecosystem.

Connecting Capital with Opportunity

"The most promising ventures often need more than just capital—they need the right capital, from the right partners, at the right time. Distribution excellence means creating meaningful connections that drive mutual growth."

Ritesh thrives at the intersection of financial engineering, market insight, and strategic execution. Whether structuring complex investment vehicles or optimizing capital allocation, he ensures that financial strategies remain aligned with long-term business objectives. His comprehensive understanding of both traditional and alternative investment landscapes makes him a trusted advisor to entrepreneurs navigating critical growth phases.

At S45, Ritesh leads distribution initiatives, connecting promising investment opportunities with the right capital partners. He leverages his extensive network to create powerful synergies between entrepreneurs and investors, ensuring mutual alignment and sustainable value creation. He works closely with founders to enhance their investment proposition, refine distribution strategies, and access specialized capital through his vast network across wealth managers, family offices, and institutional investors. His mission at S45 is to build distribution bridges that transform innovative businesses into compelling investment opportunities, delivering superior outcomes for both entrepreneurs and investors.

Ritesh is deeply committed to social and spiritual development, actively contributing to organizations like Isha Foundation and Vipassana Research Institute. He balances his professional pursuits with his passion for personal growth, mindfulness practices, and community engagement.
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Shreya Mehta

Investment Analyst

Shreya Mehta is an Associate at S45, with a background in consulting, investor relations, and equity research. She has cleared CFA Level III andis a graduate of Narsee Monjee College of Commerce and Economics.

Her time in consulting helped her work with different stakeholders of an organization and sharpened her problem-solving and people skills. In investor relations, she learned how to work with numbers and explain them clearly to investors. As an equity research intern, she improved her ability to study companies and understand financial statements and ratios.

At S45, Shreya works on both the sourcing and distribution sides. On the sourcing side, she looks for promising companies that could go public and reviews businesses that approach S45 for fundraising. On the distribution side, she speaks with potential investors and shares interesting investment opportunities with them.

What sets her apart is her unwavering dedication and her constant drive to outdo herself, every single day
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Shreeya Singh

Product Manager

Shreeya Singh is a seasoned product leader with over 8+ years of experience in developing and scaling innovative products across B2B and B2C ecosystems. With a dual academic foundation in B.Tech and MBA, she brings a rare blend of technical depth and business insight to every product she builds.

Her journey has been defined by driving innovation across diverse domains, including Green Tech, blockchain platforms, bond trading systems, and IPO solutions for equity markets. From concept to launch, she has led multiple products to successful market adoption and growth.

Beyond strategy and execution, Shreeya has built and led cross-functional teams, aligning engineering, design, marketing, and business objectives to deliver outcomes that matter. She’s passionate about leveraging emerging technologies i.e. AI, to enhance productintelligence and user experience.

Whether launching a new B2C app, optimizing B2B workflows, or owning an entire product vertical, she thrives in environments that demand both vision and execution.

Her Philosophy

Shreeya operates at the intersection of innovation, usability, and impact—building products that solve real problems and create lasting value. She blends user empathy, data-driven decision-making, and a forward-thinking approach to AI and emerging tech to craftscalable, meaningful solutions.

At S45: Building Scalable Products

As a Product Manager at S45, Shreeya leads the end-to-end product function- driving the development of innovative, scalable solutions that power the platform and its growth. She plays a pivotal role in translating S45’s vision into a high-impact product, aligning user needswith business goals.

With end-to-end ownership across multiple product lines, she collaborates closely with engineering, design, and business teams to define product roadmaps, prioritize features, and deliver seamless user experiences. Shreeya combines deep product thinking with a hands-on approach, leveraging data, user insights to continuously evolve the platform. At S45, she’s not just building products—she’s helping shape the infrastructure that empowers founders to grow and scale with confidence.

Beyond Work

Outside of her work, Shreeya leads a life full of exploration and adventure. A licensed pilot, she learned to fly aircraft as a passion project—an expression of her love for mastering new skills and pushing boundaries. She’s also a dedicated Pilates and meditation enthusiast, balancing physical and mental wellness.

A passionate traveler and thrill-seeker, she thrives on discovering new countries, cultures, and experiences. Whether it’s diving into local cuisines, trekking through unfamiliar terrain, or simply curling up with a great novel, she approaches life with curiosity, courage, and creativity.

MEET THE TEAM

We’re a team of founders, investors, and advisors offering you a playbook to transform your enterprise into an institution.

We’re excited to meet you!
Deepank Bhandari
Partner
Tushar Sharma
Partner
Pankaj Harlalka
Partner
Aman Singh
Partner
Rajesh Agrawal
Partner
Ritesh Bhargava
Head of Distribution
Achin Goyal
Principal, Investments
Abhishek Bhanushali
Principal, Private Investments
Shreya Mehta
Investment Analyst
Rajesh Agrawal
Fractional CFO
Devika Khandelwal
Fractional CMO
Shreeya Singh
Product Manager