Founders

Sushil Kumar Agarwal
Arvind Tungaria

Investment Team

Matterhorn India Opportunity Fund (Category II)

Aditya Goyal
Shruti Tiwari
Ayush Agarwal
Rahul Agarwal
Pulkit Goyal​
Gazal Gupta

Matterhorn India Fund (Category III)

Parag Jhawar
Kiran Gadge​
Vatsal Shah​

advisors

Prakash Diwan

Sushil Kumar Agarwal

Sushil Kumar Agarwal is a highly accomplished entrepreneur and business leader with over 2 decades of rich experience in the financial industry.

Prior to founding Matterhorn Investment Advisors in May 2023, he was the Founder MD & CEO of Aavas Financiers Limited, a leading affordable housing finance company. Under his leadership, Aavas grew exponentially to become a public listed HFC with 15000 Cr AUM. In his remarkable career, he has also been associated with several reputed companies, including AU Small Finance Bank, ICICI Bank Limited, and Kotak Mahindra Prime Limited with impactful tenures as part of their senior leadership.

Mr. Agarwal exemplifies hard work, dedication and excellence in both academic and professional pursuits. He is a CA gold medallist and merit holder, a qualified Company Secretary, and has completed the Owner/President Management Program (OPM) from Harvard Business School. He won the “EY Entrepreneur of The Year 2020” award in the Financial Services category. He is also a member of Young President Organization (YPO), Rajasthan Chapter.

Mr. Agarwal has a passion for continuous learning and his forte lies in creating & running different businesses with top-class execution. His leisure pursuits include indulging in golf.

Arvind Tungaria

Arvind Tungaria, a seasoned finance professional with over 20 years of rich experience, brings a wealth of expertise to the table. As a Chartered Accountant, his journey is marked by significant contributions to esteemed institutions.

Having served as Executive President at Au Small Finance Bank in the Secured Business Loans department for over a decade, Arvind played a pivotal role in driving strategic initiatives and fostering growth. Prior to this, he distinguished himself working in mortgage credit at ICICI Bank for 5 years and gained valuable experience at Ruchi Soya Industries Limited and Gujarat Ambuja Exports Limited in his initial work journey.

Arvind’s strengths lie in his strategic vision, effective communication skills, and adept problem-solving abilities. His extensive experience in secured lending and financial management positions him as a valuable asset ready to drive success and deliver tangible results in any endeavor. Arvind is very passionate about cinema, food and history. He loves to explore content across all genres and geographies.

Aditya Goyal

Aditya is a young professional with 7 years of work experience across multiple industries. He joined the group in its early stage in 2023 and is working on private and public markets research and investments.

Prior to joining Matterhorn, Aditya served as Assistant Vice President with Aavas Financiers Ltd. and worked on business strategy, market research, product at corporate level along with driving large scale digital transformation projects. He has also worked in Corporate Business Development with Blackbuck, a startup in logistics domain; and in Applications Engineering domain with Oracle India. He holds internship experience with Aditya Birla Group Leadership Program and Flipkart.

Aditya is a B.E. graduate from BITS Pilani, Goa Campus (Batch of 2015) and an M.B.A. in Finance & Marketing from XLRI, Jamshedpur (Batch of 2019). His education is marked by strong all-round excellence having secured brilliant grades and leading the Finance Association and Football team at XLRI.

Shruti Tiwari

Shruti is a distinguished professional with over 20 years of experience. She possesses a robust educational background, holding qualifications as a Chartered Accountant, a Master in Finance and Control, EPYP from IIM Calcutta, a NET certification, and an AIF NISM-Series-XIX-C certification.

Her career began at Genpact, where she worked as a Revenue Assurance professional for CREDITEK and Westpac, USA. She later joined The IIS Deemed to be University as an Assistant Professor and Program Coordinator for a unique B.Com (Hons) course with proficiency in CA and CS—a program launched for the first time in an Indian university.

Shruti has been actively involved in research and development roles, serving as a member of the Board of Studies at the university. Prior to her role at the university, she was associated with R. Shandilya & Co., a CA firm, where she handled taxation and audit-related matters.

In addition to her academic and professional roles, Shruti has been a guest speaker ,has international publication and presented papers at various national and international conferences on topics such as Risk & Return Analysis, Women Empowerment and Inclusive Growth, and Foreign Direct Investment.

Rahul Agarwal

Rahul is an investment professional with five years of diverse industry experience. He joined Matterhorn in 2024 and focuses on research and investments across public and private markets.

Prior to joining Matterhorn, Rahul was a Finance Manager at R.K. Textiles, Jaipur, where he worked on business strategy, hedging strategy, sales, and banking operations. He also gained experience through internships at AU Small Finance Bank and Viacom18.

Rahul holds a Bachelor of Business Administration (BBA) with a specialization in Finance from NMIMS, Mumbai (Class of 2020). He has successfully cleared two levels of the CFA program and has demonstrated strong academic excellence throughout his education.

Pulkit Goyal

Pulkit is a passionate young professional and a part of our investment research team. He is an adept at industry trend research across sectors and analysis of mainboard and SME IPOs.

He holds a B.Com. (Hons.) degree in Accounting from Manipal University, Jaipur and is currently pursuing and part-qualified in ACCA Qualification (UK). He has worked with EY in 2021 as an audit intern, where he gained experience in analysing and identifying gaps in financial statements and audit reports for companies and ensuring compliance with audit standards.

Pulkit is passionate about travelling and football and has played at District Level in Rajasthan.

Gazal Gupta

Gazal is a dedicated legal professional with a global perspective shaped by her experience in India, Laos, Singapore, and the United Kingdom. She joined the team in 2025 as Legal Counsel, bringing a strong foundation in corporate and commercial law, complemented by litigation expertise as an enrolled Advocate at the Rajasthan High Court.

Her academic credentials include an LL.M. in Corporate and Commercial Law with a specialization in Fintech from the London School of Economics and Political Science, and a B.A. LL.B. (Hons.) from Manipal University Jaipur, where she graduated with a stellar 9.5 CGPA. She is also a Level 1 Mediator accredited by the Singapore International Mediation Institute.

Gazal has gained extensive experience through internships at the Competition Commission of India and her role as a Legal Associate at Varidus Asia Pacific Ventures, where she assisted in establishing Variable Capital Companies under Singapore law. Her exposure to international finance and regulatory frameworks enables her to take a forward-thinking approach to legal and financial advisory.

Parag Jhawar

Mr. Jhawar has 21 years of experience in investment management and research. Prior to founding Knightstone Capital Management, an investment management firm focused on the Indian market, he was Managing Director at Steinberg India Advisors for seven years and has been involved in making and monitoring investments of over USD 200 million in portfolio companies across various sectors like consumer, retail, financial services. He was responsible for idea generation, investment recommendations and post investment monitoring of portfolio companies.

Prior to joining Steinberg India Advisors, he worked for over four years at Pari Washington, an investment advisory firm managing over USD 300 million for US and European university endowments and family offices. As part of the core five-member investment team, he was instrumental in deploying capital in mid-sized Indian companies across sectors. Before joining Pari Washington, he worked at Boston Avenue Capital LLC, an investment firm based in Tulsa, Oklahoma. Prior to his business school education, he worked at McKinsey & Company for two years.

Mr. Jhawar holds an MBA from Indian Institute of Management, Ahmedabad and received his B. Com. (Honours) from Shri Ram College of Commerce, Delhi University.

Kiran Gadge

Prior to working at Knightstone Capital Management, Mr. Gadge has a combined working experience of over 3 years across marketing research and investment banking roles. He worked for Nailbiter and Fuel Intelligence as a Research Analyst, helping top CPG clients market their products better by providing customer insights. Before that, he worked as an Analyst at eClerx, where he managed Morgan Stanley’s collateral generated at various Central Counterparty Clearinghouses (CCPs).
Mr. Gadge is a B.Com graduate and has passed CFA level 2. He is detail-oriented and passionate about technology, finance, and enjoys reading books and playing video games.

Vatsal Shah

Prior to joining Knightstone Capital Management, Mr. Shah worked at Deutsche Bank as Corporate Banking Analyst where he handled risk management & opening of FPI accounts in the custody department. Before that, he interned with Knightstone Capital for about a year while he was pursuing his graduation & CFA Level 1, where his major focus was on the BFSI sector.
Mr. Shah is a B.M.S Graduate from Narsee Monjee College of Commerce & Economics with a major in Finance. He has also cleared CFA Level 1 as well as level 2 in 1st attempt with 90 plus percentile & plans to attempt level 3 later this year.
He is a young professional deeply passionate about finance & investments. He has represented his school & college in sports such as Cricket & Chess with him continuing his interest in the former albeit as a hobby.

Prakash Diwan

With over 25 years of distinguished experience in capital markets, Mr. Prakash Diwan is highly regarded for his extensive expertise spanning mutual funds, institutional broking, venture capital, investment banking and family offices. His deep understanding of market dynamics and sharp acumen for investment strategies distinguish him as a seasoned professional in the financial industry.

Prakash is widely recognized as a leading authority in equity markets, sought after by major digital and print media for his insightful commentary and astute stock selection. His ability to uncover potential in undiscovered stocks and meticulous attention to detail have garnered him acclaim and a strong following among investors.

While he has had successful stints in the past with institutions such as Prudential ICICI Asset Management, Principal Financial Group, Way2Wealth in his career, the last engagement that Prakash held was over a decade with a Altamount Capital Management – a crossborder multi-family office set up, where he played a key role in advising and helping set up family offices for clients using a global platform centred around U.K. His strategic guidance and wealth of experience make him a pivotal advisor and valuable asset to the team at Matterhorn.

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