Aashir has over 12 years of experience across various leadership and governance roles in strategic advisory, management consulting, academia, and tech design – across organizations like Desai & Associates, Grameen Foundation, Sattva Consulting, Indian School of Business, & Noora Health. 

Across diverse sectors, his prior experience includes the design and structuring of blended finance facilities (focused on climate action in agriculture, WASH, asset financing) and outcome-based financing initiatives (Indian state-govt led social impact bonds), program design and fundraising, portfolio management of CSR funds for Indian and global corporates, and ESG strategy and reporting at company and group-conglomerate level.

Aashir has an MBA from the Entrepreneurship Development Institute of India, and a Bachelor’s in Engineering in Computer Science.

Alankruthi is an Analyst at The Blended Finance Company, currently working on climate-focused projects. Before joining TBFC, she interned at Alsisar Impact, an impact investment advisory firm based in Mumbai, where she engaged directly with startups in the impact space, assisting with fundraising and preparing impact reports . She has also explored roles in the startup sector, including working as a marketing intern at the fintech neobank Pencilton, where she developed growth strategies to increase customer acquisition, and at ABC Consultants, an HR consultancy firm, where she facilitated executive placements in their technology vertical.

Alankruthi’s passion for the development sector stems from her academic background at Ashoka University, where she pursued courses and research projects in development economics. She holds a Post Graduate Diploma in Advanced Studies and Research and a Bachelor of Science in Economics and Finance from Ashoka University.

Aparna Dua is a Partner at The Blended Finance Company (TBFC), where she has played a pivotal role in designing and launching the ASPYRE facility, which enables students from low-income households to access skill loans for aspirational skilling courses. She has also led the design of blended finance and outcomes-based structures to scale climate-smart agriculture for smallholder farmers.

Before co-founding TBFC, Aparna headed the think tank at Asha Impact, where she established the organisation’s blended finance practice, including designing India’s first Social Impact Bond and other innovative structures in livelihoods. Under her leadership, Asha emerged as a leading voice in outcomes-based financing (OBF), driving national dialogues on the Social Stock Exchange and advocating for CSR funds for OBF in partnership with UNDP, USAID, and other industry bodies. She co-authored influential reports on impact investing and blended finance in India, and has been a consistent advocate for mobilising more capital into the space. Aparna has also consulted for the Delhi Government on setting up the State Skilling and Entrepreneurship University, and helped establish Innovation Mission Punjab, a public–private partnership with the Punjab Government to strengthen the state’s entrepreneurship ecosystem.

Earlier in her career, Aparna was with the Boston Consulting Group, working across sectors to improve development outcomes, particularly in education. She serves on the Advisory Council at the Centre for Innovative Finance at ISDM and on the Investment Committee for the Startup India Seed Fund at the Indian School of Business. She has been part of the Impact Investors Council’s Blended Finance Committee and served as co-chair of the ANDE India Lab on SGB Finance.

Aparna began her career on Wall Street as an investment banker at Credit Suisse. She holds an MBA from INSEAD and a BA in Mathematics and Economics from Carleton College.

Monica is a chartered accountant with over two decades of experience in financial management, reporting, and advisory roles. She has worked closely with senior leadership, auditors, and external stakeholders across diverse organizations, delivering structured financial insights and dependable reporting.

Her expertise includes financial reporting, MIS design, trial balance mapping, working capital analysis, and financial due diligence support. She is known for her ability to bring clarity to complex financial data and support informed decision-making.

Monica adopts a collaborative and disciplined working style, values transparency, and accountability, and is particularly effective in time-sensitive environments. She continues to engage in selective advisory assignments where her experience and values align with organizational needs.

Outside of work, she enjoys reading, reflective writing, music, and spending meaningful time with her children, which she considers her greatest source of grounding and inspiration.

Gyan joins TBFC with around 14 years of experience across banking and impact consulting domain. In his last assignment with Water.org (2+ years), Gyan was responsible for managing donor engagement and expanding the portfolio of financial institution partnership delivering approx. USD 250 M (annually) capital mobilization into water and sanitation space.

Previously, Gyan has built a career in the banking sector, where he held leadership roles across corporate banking, structured finance, and financial inclusion. He has been responsible for setting up from scratch Priority Sector Lending (PSL) vertical for DBS Bank and building a PSL arm to support wholesale lending vertical of Kotak Mahindra Bank. He brings in experience of building portfolio through corporate finance, retail lending, NBFC on-lending, co-lending, direct assignment, and supply chain finance avenue. In his role at Yes Bak and ICICI, he worked on client acquisition, new product structure development, risk management and process improvement to enable credit flow in sectors like agriculture and MSME. Gyan brings in functional expertise of Project Management, Financial Structuring and Risk Management.

Gyan holds an MBA from Indian Institute of Forest Management, Bhopal, with majors in Environment Management and minors in Development Management.

Schatz is an Analyst at the Blended Finance Company, with experience across consulting and policy research at the intersection of finance, healthcare, and development.

Prior to this, he was at 1Lattice, where he assessed investment opportunities for financial institutions and supported strategy development to strengthen India’s healthcare landscape. He also interned at NITI Aayog, contributing to renewable energy policy and clean energy transitions. Schatz holds a Bachelor’s degree in Economics from Aryabhatta College, University of Delhi.

Jugal is an Analyst at The Blended Finance Company, currently focused on projects in the WASH sector. Prior to joining TBFC, he served as an equity research analyst at CRISIL Global Research and Risk Solutions, where he was part of a strategic valuation team for a leading global investment fund with over EUR 9 billion in assets under management. With over two years of experience, he conducted research, developed and maintained valuation models for stocks in the global consumer discretionary and water utilities sectors.

His specialization included macro research, creating earnings briefs, sector reports, and other ad hoc assignments. He gained significant exposure to the ESG (Environmental, Social, and Governance) space, analyzing companies’ ESG practices and policies within his coverage.

Jugal is a CFA (Chartered Financial Analyst) Level 3 Candidate and holds a Bachelor’s degree in Commerce from the University of Mumbai. He is based in Mumbai and has a keen interest in music, sports, and traveling.

Naishi is an Analyst at The Blended Finance Company, passionate about advancing impact in the development sector. At Teach For India, she worked on the national fundraising team, contributing to annual budgets exceeding USD 12M. In this role, she managed a portfolio of corporates, HNWIs and UHNWIs, expanded retail giving, and contributed to early thinking on innovative finance for the Fellowship model.

Previously, at Dasra Foundation, she deepened her understanding of flexible grant-based capital. During her internship, she led capacity-building initiatives for the Rebuild India Fund and conducted a mixed-methods study on proximate leadership and mental health, which was presented at Dasra Philanthropy Week ’24. She also gained exposure to public and mental health through internships at Lokmanya Tilak Hospital, Sir H.N. Reliance Foundation Hospital, IIT Bombay’s MNRT research wing, and mental health startup Trijog -Know Your Mind.

Naishi holds a double major in Economics and Psychology from Kishinchand Chellaram College, Mumbai. During this time, she honed her writing and leadership skills by contributing to internal newsletters and serving as President of the Rotaract Club of Bombay Hanging Garden

Nakul is an Associate at TBFC. Prior to joining TBFC, Nakul worked at IDinsight with their India team. As part of the role, he worked closely with top government stakeholders and funders to drive systems change.

He graduated from Shri Ram College of Commerce, where he majored in Economics.

Before co-founding TBFC, Nirav led Kaizenvest’s impact investments in India and Southeast Asia and built the firm’s Blended Finance practice. Under his leadership, Kaizenvest successfully implemented USAID’s CATALYZE EduFinance programs in South Africa and Rwanda.

Nirav has spent over two decades with the Tata Group, where he joined as a Tata Administrative Service (TAS) Officer and left as the CEO of two EdTech companies. As the Vice President of the Chairman’s Office, Nirav led several strategic initiatives of the holding company Tata Sons in communications and aerospace.  

Through governance and advisory roles, Nirav supports several impactful organizations such as Global Schools Forum, NORRAG, USAID’s Education Finance Network, Jagran Lakecity University, and Maker’s Asylum.

Nirav was selected to attend the prestigious Chevening Rolls-Royce Science and Innovation Leadership Program at Oxford University. He was recognized as a “Young India Leader” by the British High Commission in 2013 and awarded an honorary doctorate for his contributions to the fields of education, technology, and management.

Pranjal has over six years of experience spanning across impact consulting, public health and governance on strategy and implementation projects. Prior to joining TBFC, Pranjal was associated with GDi Partners for the past two years as a consultant working closely with central/state ministries and philanthropy offices in designing and managing large-scale projects. Before that, he was part of CHAI – supporting portfolio teams across sexual and reproductive health, covid response and cervical cancer. He has also worked as a political analyst anchoring research and campaign design for four state legislative elections with IPAC.

Having worked with a myriad of stakeholders across governments, philanthropies, politics, multilateral organizations and private sector partners – he has developed a holistic understanding of the development ecosystem and its key drivers.

He attained his MPP degree from National law school of India University, Bengaluru in 2019 where his research work primarily focussed on the role of informal local governance institutions in India

Samyuktha is an Analyst at The Blended Finance Company, with a focus on skilling and livelihood projects. She previously worked at Goldman Sachs as a Senior Analyst in the Private Wealth Management division, and was one of 100 people from all around the world chosen for the Young India Fellowship, Ashoka University’s Flagship program. Previously, she has also worked with the Lodha Group’s CSR initiative, Lodha Genius Program, aiming to enhance opportunities in India for STEM education.

Samyukta holds a Bachelors in Commerce from Madras University. She is passionate about learning about the impact sector and wants to contribute to drive sustainable development and innovative financial solutions.

Sarang has close to 6 years of experience working in India and London. Most recently, he was an investment banking associate at Consilium Capital, a boutique corporate finance firm based in London, working on raising capital for a nature-based start-up. He also worked on capital raises for distributed energy companies based in Africa. Before that, he worked at Deloitte on the M&A Transaction Services team, specialising in financial due diligence on renewable energy companies.

He has a Master’s in Finance from London Business School and is a CFA charterholder.

Siddhanth is an analyst at TBFC, working across climate-smart agriculture, outcome-linked finance, and social-purpose real estate. He focuses on technical assistance and program design, supporting the development of innovative financial structures, capacity building, and implementation strategies that drive sustainable and measurable impact.

Previously, he interned at SG Analytics as an Investment Banking intern, specialising in forex, commodity, and equity markets. He also interned at Capria Ventures, a Global South-focused Venture Capital firm, as a fundraising intern. There, he steered investor relations with Middle Eastern family offices and HNIs, mobilising investments exceeding $200K. These experiences have given him expertise in fundraising, market analysis, stakeholder engagement, and structuring investment opportunities, with a strong focus on mobilising capital for sustainable and impactful initiatives.

Siddhanth holds a BSc (Hons) in Economics and Finance and a PG Diploma in Computer Science and Entrepreneurship from Ashoka University. At Ashoka, he held leadership positions in the Ashoka Business Club, participated in case competitions, and represented the university in varsity badminton.

Shivika is a Manager at TBFC. Previously, Shivika was part of Omidyar Network India, where she was responsible for sourcing, evaluating and managing investments across the Property Inclusivity vertical. She managed portfolio companies & projects in the Housing Finance, Fintech, Urban Housing, Land Governance and Climate space.

Prior to that, Shivika was leading the Blended Finance initiatives and investments at Asha Impact Trust and worked across sectors such as healthcare, livelihoods, financial inclusion and WASH. She started her career as a Senior Analyst at Arete Advisors (now part of Bain & Company), a boutique strategy consulting firm with an expertise in healthcare strategy and investment advisory and worked across the India and Africa markets.

Shivika holds a Master’s in International Affairs Degree from Columbia University, New York and a Bachelor’s Degree from Hansraj College, Delhi University.

Shraddha Talwar is an Associate at the Blended Finance Company. Prior to this, she was a Consultant at Dalberg, where she focused on developing inclusive research tools and innovative finance mechanisms, primarily in healthcare and skilling. She has worked on diverse engagements, ranging from designing an outcomes fund for green skilling to drafting the social inclusion strategy of a social enterprise developing medicines for neglected diseases. She also designed a mixed-methods study to analyze physical activity (PA) patterns for a leading impact investor. She graduated from Lady Shri Ram College for Women, where she majored in Economics.

Shweta Arya has over 24 years of experience in Human Resources, Employee Engagement, Customer Relationship Management, and Design Management. She is also a qualified Commercial Artist, bringing a unique blend of creative and people-focused expertise to her work. Her career combines operational execution, cross-functional leadership, and relationship-driven engagement strategies.

At Tata ClassEdge, she began as a Graphics Lead, managing design teams, setting project standards, and overseeing quality reviews for a range of graphic projects. She later transitioned into HR, where she led employee engagement and HR operations. Her experience covers both strategic HR and creative leadership roles.

At TBFC, she designs and implements engagement programs aligned with organizational goals, with a focus on relationship-building, internal communication, and cultural alignment. She brings strong customer orientation, communication and interpersonal skills, and a track record of conceptualizing and executing large-scale events. She is committed to building lasting connections with customers and employees through tailored engagement initiatives.

Shweta holds a Bachelor of Fine Arts from Chandigarh College of Art, where she ranked second in her graduating class. She is a trained Kathak dancer and has exhibited her charcoal artwork in Mumbai and Chandigarh.

Tushar leverages over 19 years of prior experience in investment banking and blended-finance-focused strategy consulting. Previously, an Associate Partner at Dalberg, Tushar co-led the development finance & investment practice and also led work in the city’s space. As Dalberg, he worked with a variety of clients including social enterprises, large corporations, philanthropic donors, non-profits, academia, and DFIs, advising them on fund/financial structuring, instrument design, feasibility evaluation for innovative or blended finance, fundraising strategies, and design of PPP structures. Key engagements that he led at Dalberg included advising a large ODA donor in its transition to a blended finance strategy, developing co-financing strategies for a large global philanthropy with a focus on activating domestic capital in India, and rapidly assessing the feasibility of a financial markets-linked energy transition index to direct capital towards companies that exhibit sustainable behaviour. Tushar has led the design and implementation of several outcomes-focused financing funds and instruments including India’s first skilling-focused impact bond and a multi-instrument fund focused on foundational literacy and numeracy.

Before Dalberg, Tushar was a Vice President in the Mumbai office of Lazard, where he advised Indian and international clients on M&A and fundraising transactions, with a focus on the infrastructure, energy, industrials, and telecom sectors.

Viyona has managed and led several projects across innovative finance, catalytic financing, climate policy, strategic advisory, and national-level program management.

Her prior experience includes the design and structuring of blended finance facilities (focused on agroecology solutions) and outcome-based financing initiatives like state-level social impact bonds. She has led consulting engagements to develop investment and policy roadmaps for climate technology , unlock catalytic capital for climate action in India, and scale private sector financing in the WASH sector. She has also anchored a national-level program on the Forest Rights Act, focusing on policy advocacy and improving community access to protected areas.

Viyona has a Master’s in Public Policy and Governance from Azim Premji University and a Bachelor’s degree with a double major in Public Policy and Environmental Studies from FLAME University

Urja Hansraj is an Analyst at TBFC, where she works across agriculture and education. She focuses on outcomes-based funding and impact-linked incentives that move the conversation from inputs to measurable outcomes.

Previously, she interned with Waterfield Advisors in the Philanthropy and Impact team, supporting family offices and HNIs in deploying capital for causes they cared about. The experience gave her a close look at how investors balance returns with impact and sparked her interest in finding ways to blend capital for the greater good.

She also holds a degree in Economics and Finance from Ashoka University, where she was an active member of the Student Government. There, she worked on initiatives to make campus life more inclusive and affordable.

Yashi has been part of the dynamic and high impact team at Dasra where she worked closely on the adolescent collaborative working on building strategies, capacities and engagement with adolescents, NGOs and Government. Yashi has also been closely involved in strategy development, on-ground programming & building a robust Monitoring and Evaluation framework as well as developing innovative mechanisms for meaningfully engaging philanthropists and building initiatives to unlock capital for India. More recently, Yashi has worked on scaling promising practices on adolescents innovations with the National Govt of India and led a project on youth leadership around Sexual Reproductive Health. Yashi graduated with a Masters in Communication and Development Studies from the London School of Economics and Political Science.