Capital Provider Showcase

Dialogue with Uday Garg, Aditya Mody and
Gaurav Kumar, Mandala Capital


Uday Garg, Managing Partner, Mandala Capital

Uday Garg founded Mandala Capital in 2008 and since then has been involved in all areas of the business. He was instrumental in developing its strategy and vision as well as raising the current funds under management. The inspiration behind food and agriculture as sector focus stems from the influence of Mr. Garg’s late grandfather, Mr. B. R. Barwale, who founded Mahyco, India’s leading seed company, in 1964.

Prior to Mandala Capital, Mr. Garg worked at Altima Partners (London) focusing on private investments in global Emerging Markets across sectors (including Agribusiness). He holds a B.S. in Economics from the Wharton School of the University of Pennsylvania, with a concentration in Finance.




Aditya Mody, Managing Director, Mandala Capital

Aditya Mody joined Mandala Capital in 2013 from Axis Capital’s Investment Banking Coverage team (Mumbai) where he was a part of the Financial Sponsors Group.His previous roles with the Axis Group include Telecom, Media and Technology focused on equity research, as well as setting up the retail broking arm Axis Direct. From 2004 to 2008, he was a part of JP Morgan’s Investment Banking Coverage team (Mumbai, London and Hong Kong).

Mr. Mody holds an MBA in Finance and IT from Narsee Monjee Institute of Management Studies, Mumbai University, and a BCom in Accounting and Computer Sciences from Jai Hind College, Mumbai University.


Gaurav Kumar, Director, Mandala Capital

Gaurav Kumar joined Mandala Capital in 2016 from IDBI Capital Market Services, where he was a part of the Investment Banking division as a Manager, focused on M&A and private equity transactions across the Pharmaceuticals and Financial Services sectors, working on both, deal original and execution and providing support to the Structured Finance division.

Mr. Kumar completed an MBA from NMIMS (Mumbai) as well as a BTech in Mechanical Engineering from the Indian Institute of Technology (Banaras Hindu University).




About Mandala Capital

Founded in 2008, Mandala Capital is a private equity firm focused on long term and sustainable investments across the food value chain in India and South East Asia. It partners with visionary promoters and management by providing complete financial and operational support to enhance their operational value and help companies achieve sustained leadership in their sectors.

In 2014, Mandala launched its first institutionally backed fund with investors from the USA and Europe. The early success of Fund I led to the launch of Fund II soon after in 2016. In early 2022, it launched Mandala Innovation to focus on Agritech.

Mandala’s current portfolio includes companies across the spectrum of food-related investing, including seeds, biotechnology, sugar, biochemicals, irrigation, food processing, solar, agri-financing, logistics and cold chain, dairy, beverages, and fresh produce.

About Impact Investors Council:
Impact Investors Council, India (IIC) is a member-based national industry body formed with an objective to build and strengthen the impact investing eco-system in India. To know more about our work visit https://iiic.in or reach out to secretariat@iiic.in

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