Post Mizuho deal, Avendus elevates Karan Sharma to lead investment banking

Mumbai: Avendus appointed Karan Sharma as managing director and head of investment banking, effective immediately; This marks a major leadership transition at the financial services firm after Japan’s Mizuho Financial Group acquired a controlling stake last year.

Sharma replaces Avendus Group co-founder and chief executive Gaurav Deepak, who has overseen the investment banking franchise and the wider firm for several years. The move will provide dedicated leadership to its investment banking business and allow Deepak to focus on Avendus’ broader strategic priorities, the company said in a statement on Monday.

The appointment comes about six months after Mizuho acquired a majority stake in the domestic investment bank, allowing private equity firm KKR & Co. to fully exit its nine-year investment. There have been some senior departures at Avendus since the deal, including Anshul Gupta, who heads healthcare, and Prateek Jhawar, who leads infrastructure and real estate.

Sharma has been with Avendus for 15 years and has played a key role in growing its digital and technology practice into a leading private equity and M&A advisory franchise. In his new role, he will oversee the strategic direction of the investment banking business, drive growth initiatives and strengthen the firm’s corporate capabilities.

“Looking forward, I will focus on strengthening client partnerships and deepening our industry expertise,” Sharma said in a statement.

“Karan’s leadership, ability to build and develop teams, deep customer relationships, and his role as an ambassador for our culture over the last 15 years make him a natural choice to lead, supported by a talented group of leaders who are scaling their respective verticals,” said Deepak.

“With Karan assuming this responsibility, I will be able to focus more on the firm’s broader strategic priorities, deepen engagement with our clients and help shape the next phase of growth for Avendus,” Deepak added. “As Avendus has grown in scale and ambition, we have reached a point where the next phase of growth requires dedicated leadership for our investment banking franchise.”

Founded in 1999 by Deepak, Ranu Vohra and Kaushal Aggarwal, Mumbai-based Avendus started as an online platform connecting founders and investors before evolving into a full-service financial services institution. Over the years, it has emerged as a prominent player in India’s technology and startup ecosystem.