Ironwood Capital Partners

The three named partners — Steven Enderby, Mayank Parekh, and Hiran Embuldeniya — jointly lead the firm. Enderby brings 20 years of emerging-market private equity from Actis, Parekh draws on his McKinsey tenure and seed-stage investing across Southeast Asia, and Embuldeniya contributes investment banking and strategy expertise from Goldman Sachs and York Street Partners. The firm does not list a standalone investment committee, implying decisions are taken within this partner group.

Sourcing flows through the partners' individual operating roles and professional histories. Enderby’s simultaneous role as CEO of Hemas Holdings and board seat at CIC Holdings provides visibility into Sri Lankan industrial and consumer corridors. Embuldeniya’s advisory track record at York Street Partners, where he led multiple large foreign PE entries into Sri Lanka, offers access to founder-led companies seeking institutional minority partners.

Ironwood is a dedicated private equity general partner, not a family office. Its three partners manage external capital pooled alongside their own, focusing exclusively on growth-stage and expansion deals in Sri Lanka.

Ironwood appears to operate on a direct-deal or syndicate basis, writing $2–5 million checks for minority stakes. The firm does not describe a blind-pool fund structure or a series of limited partner commitments, suggesting it raises capital on a per-transaction basis.

The firm targets growth and expansion-stage companies. Its materials reference long-term minority partnerships over three-to-five-year hold periods, avoiding startup seed rounds or public-market carveouts.

These are the separate professional affiliations of its partners, not subsidiaries. Steven Enderby runs Hemas Holdings as CEO while acting as an Ironwood partner. Mayank Parekh founded Singapore-based M Venture Partners, a separate seed-stage firm. Hiran Embuldeniya was formerly a lead advisor at York Street Partners, bringing that deal network into Ironwood.

Ironwood’s literature emphasizes acting as a lead minority investor that takes board representation in Sri Lankan companies. While the team’s Goldman Sachs and Actis backgrounds suggest comfort with co-investment syndicates, the firm does not explicitly market a co-investment product or club-deal structure.