Kumar Bahukhandi
Winpe, a gender diversity-focused not-for-profit platform, successfully hosted the third edition of the Winpe Leadership Summit and Awards (WLSA) at Taj Lands End, Mumbai. The event convened top private equity and venture capital (PE-VC) leaders to address the pressing need for greater diversity, equity, and inclusion (DEI) in the investment ecosystem and was followed by an awards ceremony recognising firms and individuals driving meaningful change in the industry.
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Winpe Leadership Summit and Awards 2025 Charts the Future of PE-VC with Diversity at the Forefront
The investment ecosystem continues to be a male-dominated space where the underrepresentation of women in leadership roles creates barriers to entry for women entrepreneurs, hindering their career advancement and limiting access to networking and mentorship opportunities. While gender diversity in Indias PE-VC sector has improved over the years, significant gaps persist, particularly in leadership roles.
Leading PE-VC firms such as Warburg Pincus, ChrysCapital, Multiples Alternate Asset Management, Everstone Capital, Gaja Capital, Peak XV Partners, Fireside Ventures, AZB & partners, British International Investment (BII), Canada Pension Plan Investment Board, (CPPIB) have been actively collaborating with Winpe, supporting initiatives that drive greater gender diversity and inclusion in the investment ecosystem.
A 2020 survey across 25 Indian PE firms showcased that women constituted only 16% of the workforce, with merely 5% holding senior leadership positions. The ‘Mind the Gender Gap’ report by CFA Institute Research and Policy Center suggests that women constitute less than 20% of the overall workforce and hold only 10% of key managerial personnel (KMP) roles. This gap showcases a lack of representation at key decision-making levels.
Recognising these issues, Nupur Garg, Founder, Winpe, said, “Despite growing evidence that diversity drives better returns, women hold less than 20% of roles in PE-VC and remain significantly underrepresented at leadership levels. In today’s climate, where DEI faces both momentum and backlash, silent support is not enough. Winpe Leadership Summit and Awards 2025 is a call to action-to move from intent to impact, from conversations to measurable change. The future of investing must be built on merit and inclusion, not outdated barriers.”
Featuring 65 speakers and around 400 attendees, WLSA 2025 served as a critical forum to address these gaps and drive solutions. Through expert-led panel discussions on fundraising strategies, mentorship, and leadership acceleration, along with masterclasses focused on pitching and entrepreneurial success, the summit reflected a legacy that stands strong since the WLSA’s inception in 2023. Notable attendees included Ashley Menezes, Partner and COO, ChrysCapital; Manish Kejriwal, Managing Partner and Founder, Kedaara Capital; Upasana Taku, Co-founder and CFO, MobiKwik; Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures; Anita George, Chief Executive Officer, ProsperETE; Renuka Ramnath, Founder, Managing Director, and CEO, Multiples Alternate Asset Management; Vikram Raju, Managing Director and Head of Climate Investing for Private Credit and Equity, Morgan Stanley; Anand Unnikrishnan, Managing Partner- Private Markets, National Investment and Infrastructure Fund; VT Bharadwaj, Co-founder and General Partner, A91 Partners; Sunil Mishra, Partner – Primary Investments, Adams Street Partners; Ralitsa Rizvanolli, Partner and Head of Investments, Sarona Asset Management; Diane Jegam, Regional Director, South Asia, Proparco; Puja Sondhi, Partner, Shardul Amarchand Mangaldas and Co; and Roshini Bakshi, Managing Director and Head of Impact, Everstone Capital Asia Pte, among others.
The jury for this year’s Winpe Leadership Awards included eminent global leaders such as Debbi Sutuntivorakoon, Partner, Axiom Asia Private Capital; Pamela C. Fung, Partner, Morgan Stanley; Ralitsa Rizvanolli, Partner and Head of Investments, Sarona Asset Management; Sunil Mishra, Partner – Primary Investments, Adams Street Partners; and Thomas Kronsbein, Director, Private Equity, Global Markets, DEG.
The comprehensive list of winners:
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Firm of the Year: Private Equity – India Alternatives
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Firm of the Year: Venture Capital – Elevar Equity
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Deal of the Year: Private Equity – Multiples Alternate Asset Management for their investment in Svatantra Microfinance
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Deal of the Year: Venture Capital – Fireside Ventures for their investment in Moxie Beauty
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PE-Backed Company of the Year – Gynoveda and India Alternatives
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VC-Backed Company of the Year – Eloelo and WaterBridge Ventures
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Changemaker of the Year: Private Equity – Vishal Tulsyan from Motilal Oswal Alternates
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Changemaker of the Year – Venture Capital – Manish Kheterpal from WaterBridge Ventures
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PE Leader of the Year – Nithya Easwaran from Multiples Alternate Asset Management
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VC Leader of the Year – Richa Bajpai from Campus Fund
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Special Acknowledgement – Leadership – Shweta Jalan from Advent International
The representation of women in PE-VC and the broader corporate workforce remains a global challenge. The recent backlash against DEI has led companies to practice diversity quietly rather than champion it publicly. However, visibility is critical to driving real change. Winpe Leadership Summit and Awards 2025 brought these issues to the forefront, creating a platform where industry leaders not only discussed the barriers to diversity but also committed to driving measurable progress.
About Winpe
Winpe is an industry forum where stakeholders come together to set the diversity agenda and lead collective action to bring about gender diversity in the investing ecosystem. Winpe is committed to catalysing action by increasing the participation of women as investors and capital allocators and as recipients of investment capital, through a well-rounded and holistic approach that engages key stakeholders of the investing industry.
For more information, please visit winpeforum.com/home.
