Renuka Ramnath: The Private Equity Powerhouse Shaping India’s Business Future

If there’s one name that’s redefining how capital meets vision in India, it’s Renuka Ramnath. While most headlines spotlight startup unicorns or legacy conglomerates, Ramnath has been quietly and powerfully scripting a different kind of success story—one that sits at the intersection of finance, entrepreneurship, and purpose.

A former ICICI Ventures head and now the Founder and CEO of Multiples Alternate Asset Management, Renuka Ramnath is among the rare women in India who has not just led but built a homegrown private equity firm from scratch. Multiples isn’t just about investing money—it’s about believing in founders, shaping governance, and scaling businesses that define the next decade of India’s economy.

What makes Renuka’s journey especially compelling is her ability to blend sharp business instincts with long-term vision. Under her leadership, Multiples has invested in big names like PVR Cinemas, Delhivery, and Niyo—brands that young professionals interact with every day. Her firm manages over $2 billion in assets, yet her leadership style is rooted in trust, transparency, and backing entrepreneurs beyond balance sheets.

Here’s a lesser-known fact: Renuka Ramnath also serves as the Chairperson of Tata Communications, a rare feat for someone in the PE world. She's also a former board member of the Indian Private Equity and Venture Capital Association (IVCA), pushing for stronger standards and diversity across the investment ecosystem.

Her story matters, especially now. As India sees a surge in startup activity and institutional investments, Ramnath’s work offers a blueprint for how capital can be a force for strategic scale—not just fast growth. For young entrepreneurs and students, she’s proof that finance can have both purpose and power.

In a business world dominated by aggressive scaling and short-term wins, Renuka Ramnath reminds us that real leadership lies in building legacies—quietly, steadily, and with conviction.

Whether you’re planning your first venture or exploring a career in finance, her journey offers more than inspiration—it offers a playbook.