Ajay Mahipal, MBA

Ajay Mahipal is the Co-founder & General Partner at HealthKois, India’s leading Healthcare Innovation and Impact Fund with over US$ 300 Million in Assets Under Management (AUM).

Ajay is a highly active investor, focusing on high-growth, innovative companies across Health-Tech, Biopharma, MedTech, Healthcare Delivery, and Climate Health. He is recognized for his leadership in building India’s foremost Healthcare AI portfolio, reflecting a strong emphasis on AI-driven healthcare models. His mission is to impact a billion lives through the HealthKois platform by backing exceptional entrepreneurs and nurturing transformative models that solve for affordability, accessibility, and quality of care. He currently serves on the Boards of cutting-edge companies including Qure.ai, Wysa, ekincare, Carepal, Beta Drugs, and BeatO.

With over 21 years of experience spanning Investment Management, Corporate Finance, Corporate Strategy, and Investment Banking, Ajay has a deep and diverse operational background. Previously, he led the CURRAE Healthtech Fund (India's first dedicated early-stage Healthtech Fund) and chaired the Board of Directors for the Amazon & Patni Group JV. His career history includes leadership roles at Patni Family Office, E&Y, American Express, Elara Capital, and Pepsi.

As a respected thought leader in the sector, he co-authored a seminal report on ‘Healthcare Innovation in India’ with Bain & Company. He regularly publishes articles on innovative healthcare models in leading publications and speaks at preeminent global forums, including the World Economic Forum (New York), GPC and BioAsia.

Ajay is a recipient of the prestigious “40 under 40 Award” for best Alternate Investment Professionals. He holds a Chartered Accountant qualification and an MBA from the Indian Institute of Management (IIM), having graduated from Shri Ram College of Commerce (SRCC).