Financial services firm Avendus has elevated Karan Sharma to the leadership role of managing director and head of investment banking, with immediate effect, the company said in a statement.
Sharma has assumed the role from Gaurav Deepak, co-founder and chief executive officer who has led both the investment banking (IB) franchise and the firm for the last many years.
This change has been made to give the firm's IB vertical a more focussed leadership, according to the statement.
“As Avendus grows in scale and ambition, we have reached a point where the next phase of growth requires dedicated leadership for our investment banking franchise,” said Deepak, co-founder and chief executive officer, Avendus Group.
Deepak added that he would now be able to focus more on the firm’s broader strategic priorities, deepening engagement with their clients, and helping shape the next phase of growth for Avendus.
Over the last 15 years at Avendus, Sharma has led the firm’s digital and technology practice into being a key private equity and M&A advisory team, working closely with founders and investors, according to the statement.
“As we look ahead, my focus will be on strengthening client partnerships, deepening our sector expertise and reinforcing our position as the trusted advisor to India’s most ambitious businesses,” said Sharma, managing director and head of investment banking, Avendus Capital.
Avendus Capital has seen a few leadership changes in the past few months. Anshul Gupta, managing director and head of healthcare investment banking at Avendus Capital, recently quit the firm to join Bank of America to lead its investment banking business in India.
Previously, Prateek Jhawar, head of investment banking - real estate and infrastructure, quit to join Macquarie. Gaurav Arora recently replaced him, joining as managing director and head of infrastructure.
In December 2025, Japan's Mizuho Securities agreed to acquire a majority stake in Avendus from KKR in a deal estimated at $523 million. As part of the deal, Avendus co-founder and executive vice-chairman Ranu Vohra also sold his stake.
Avendus Group has a presence in investment banking, institutional equities, wealth management, asset management and credit solutions. Under its investment banking unit, it serves clients from growth stage funding to large-sized transactions, M&A advisory and access to public markets.
