Renuka Ramnath

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Renuka Ramnath is a private equity fund manager from India.


For close to three decades in financial services, Renuka successfully built several businesses in the ICICI Group including Investment Banking, e-commerce and private equity. As the MD & CEO of ICICI Venture for close to a decade, she led that firm to become one of the largest private equity funds in India.


Renuka turned an entrepreneur to set-up Multiples in 2009. Multiples is a $400 million Independent private equity fund backed by 15 Indian and global institutions.[1]

As of 2017, Multiples manages over USD 400 million of private equity capital raised from 15 Indian and global institutions. Investors in the fund include several firms including pension funds from Canada and Netherlands, Development Finance Institutions, Indian banks and other institutional investors.

Multiples adopted a "sector agnostic" strategy and invested in themes around new-to-market opportunities, business turnarounds and shareholder realignment / consolidation. This includes situations where Multiples has taken a minority equity position or effected a management buyout.

Multiples successfully deployed capital across ten transactions between 2011-14.

Public image[edit]

She has been featured in listings such as: the Top 25 Most Powerful Women in Business (Business Today, India);[2] India’s most Powerful CEO’s (Economic Times),[3] the Top 25 Non Bank Women in Finance (US Banker’s global list),[4] Asia's Women in the Mix: The Year's Top 50 for Achievement in Business (Forbes),[5] and the Top 25 women in Asian asset management (Asian Investor).[6]


  1. ^ "Multiples (Private Equity)". Retrieved 30 October 2014. 
  2. ^ "Business Today's 10 listing of Most Powerful Women in Indian Business - Business Today". Retrieved 30 October 2014. 
  3. ^ "India's top businesswomen". The Economic Times. Retrieved 30 October 2014. 
  4. ^ Rebecca Sausner (1 October 2008). "#14 Renuka Ramnath". American Banker Magazine. Retrieved 30 October 2014. 
  5. ^ Forbes Asia (27 February 2013). "Asia's Women In The Mix, 2013: The Year's Top 50 for Achievement In Business". Forbes. Retrieved 30 October 2014. 
  6. ^ "2nd Annual Japan Institutional Investment Forum - Asset Owners - News - AsianInvestor - Inside Asia-Pacific’s asset management industry". AsianInvestor. Retrieved 30 October 2014.