# Multiples Asset Management IFSC

Multiples Asset Management IFSC is an Asset Manager based in Gandhinagar, Gujarat, India.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Gandhinagar, Gujarat, India
- **Region:** Asia
- **Address:** GIFT City, Gandhinagar, Gujarat, India
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** multiplesalternate.com
- **LinkedIn:** https://www.linkedin.com/company/multiples-alternate-asset-management

## Regulatory record

- **CRD number:** 330810
- **SEC file number:** 802-130718
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/330810

## About

MULTIPLES ASSET MANAGEMENT IFSC LLP is an exempt reporting adviser in GANDHINAGAR, GUJARAT. It is based in the IFSC.

## Sectors

- Financial Services
- Enterprise Software
- Healthcare Services
- Consumer
- Pharmaceuticals
- Infrastructure

## People

- Renuka Ramnath — Founder, Managing Director & CEO
- S. Sriniwasan — Co-Founder & Managing Director

## Questions

### Does Multiples invest in venture-stage companies or only growth equity?

Multiples primarily targets growth equity and buyouts, not seed or early-stage venture. Its typical check is aimed at profitable or near-profitable mid-market companies needing scale-up capital. The Delhivery investment, made before the company's 2022 IPO, is the closest the firm has come to late-stage venture, but the portfolio is anchored in cash-flow-positive operators.

### What is Multiples' relationship with ICICI?

There is no formal corporate relationship between Multiples and ICICI. Renuka Ramnath left ICICI Venture, the private equity subsidiary of ICICI Group, in 2009 after a long tenure that included serving as its CEO. Multiples is an independent firm she founded the following year with a new team and separate institutional backing. ICICI is not a sponsor or LP in Multiples funds.

## Related profiles

- [Beijing Defu Yuean Investment Consulting](https://altss.com/profile/beijing-defu-yuean-investment-consulting-co-ltd)

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Last updated: 2026-08-14T12:30:00.000Z

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