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How Pankaj Karna bet on fragmented markets to build a top-class M&A outfit

An active early-stage start-up investor, he isn't obsessed with promoter credentials and focusses more on entrepreurs with clarity of mind and fire in the belly

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Pankaj Karna, founder, Maple Capital Partners

5 min read Last Updated : Nov 12 2019 | 4:37 PM IST

Whether it was serving as the sole advisor to Chrys Capital for its $30 million investment in co-working space Awfis Space Solutions, or overseeing the acquisition of fitness chain Fitness First India by Cult.fit, Maple Capital Advisors founder Pankaj Karna has a keen eye for businesses focused on fragmented markets.

Prior to Maple, Karna was partner and head of mergers and acquisitions, Lead Advisory at Grant Thornton in India before starting his own venture in 2010.

“We started bootstrapped, but were encouraged by high-quality clients that continued to engage with us. Our first transaction was a listed company M&A-Orient Bell

Topics : Start-up funding

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