"A Visionary's Path: Ashish Dhawan's Pursuit of Social Change"
The Early Years and Education:
Born on March 10, 1969, in Delhi, India, Ashish Dhawan's upbringing was marked by a blend of academic rigor and cultural immersion. He was very good at studying and wanted to serve our nation in either way. He wanted to become a teacher in his life, but his mother denied that to become a Teacher. Raised in Kolkata, he attended St. Xavier's Collegiate School and later St. James' School, where he imbibed the values of diligence and intellectual curiosity. From childhood only he wanted to do something big in his life and wanted to do social activities in our country. Dhawan's educational journey led him to the prestigious halls of Yale University, where he pursued a bachelor's degree in applied mathematics and economics. He got a Bachelor of Arts and a Bachelor of Science degree from Yale University. He was a person who took a dual degree at same time. While he was at Yale University, at that time only he decided that I want to become an entrepreneur at the age of 30 and a philanthropist at the age of 45. His thirst for knowledge drove him further to Harvard Business School, where he earned his MBA, laying the foundation for his future endeavors.
Venturing into Finance:
Armed with a stellar academic background, Dhawan embarked on his professional journey in the competitive realm of finance. After graduation, in 1992 he started to do job in Wasserstein Perella & Co.where he learned many things , then during period of 1993-1995 , he did job in and McCown DeLeeuw & Co. which private equity firm in California where he worked as Junior Associate.During this period, he met with McCown who encouraged him to persue MBA from Harvard University. In 1997, Ashish Persued MBA degree from Harvard with distinction. His stint on Wall Street, particularly at Wasserstein Perella & Co. and McCown DeLeeuw & Co., provided him with invaluable insights into investment banking and private equity. After his MBA he started to work for Goldman Sachs. At Goldman Sachs, Dhawan honed his expertise in risk arbitrage, demonstrating a keen eye for identifying lucrative investment opportunities.
Biography of Ashish Dhawan - Trader, Investor , Philanthropist
The Birth of Chrys Capital:
As
decided earlier, he left his job at the age of 30 and returned to India to
starts entrepreneurial phase of life. Then in 1999, fueled by entrepreneurial
zeal and a vision for growth, Dhawan co-founded ChrysCapital in Mumbai
alongside Raj Kondur, his Harvard Business School peer. This bold venture
marked the inception of one of India's premier private equity firms, poised to
capitalize on emerging market opportunities and drive substantial returns for
investors. During initial phase of company, they struggled a lot, they faced
many difficulties while collecting the funds but eventually they managed to do
so and within less than one year they start to manage more than 1 Billion Dollar
funds.
During dot com crash they faced huge
losses in internet and technology related companies, but because of diversified
portfolio companies like Spectra mind saved him. Ashish invested near about 10 million dollars in it
and got return 6 times at that time. And because of this, he and his company
survived in market. His private equity firm invested in many finance companies
like Axis Bank, Yes Bank, Shriram Transport finance, Global Vantedge, Techteam
, Gammon, IVRFC which became multibeggar for him. Also, he faced losses in
companies like Mastek, Orient Green Power, Allsec technologies due to improper
analysis during investment.
In 2001, he bought heavy quantity of
Mphasis shares for Rs 350 but this reached to 50 Rs within few weeks. But due
to strong belief and research, he had trust on this stock and not sold single
share and within few years, he got 5 times returns from it. In 2004, he bought
Suzlon shares of 100 Crores and sold out to 1300 crores which became
multibeggar for him. In 2010, he was among India’s forth top Taxpayers in
India.
Currently his portfolio is diversified in all sectors, having stocks like IDFC, Mahindra & Mahindra Finance Ltd, Glenmark Pharma, Quess Corp Ltd, Arvind fashion Ltd, Greenlam Industries, equitas holding. Also he invested in startups like Ackno Technologies, , B9 Beverages, Nutricane Beverages. His total net worth is around 3600 crores as of 2024.
Transition to Philanthropy:
Despite
achieving considerable success in private equity, Dhawan felt a calling to
channel his energies towards philanthropy and social impact. In 2012, he made a
pivotal decision to pivot his career trajectory, bidding farewell to the world
of finance to embark on a mission-driven path. This led to the establishment of
the Central Square Foundation (CSF), a groundbreaking initiative aimed at
catalyzing systemic change in India's education landscape. Also, in
collaboration with Khan Academy Hindi, he started free education for needy
ones. Additionally, In 2015,Dhawan played
a pivotal role in the creation of Ashoka University, signaling a paradigm shift
in higher education in India. This was very big move in his life because Ashoka
Unviversity was India’s first Liberal Art University which was founded by
taking 40 philanthropist together. And by this his childhood dream to become a
Teacher was completed in other way.
Dhawan's
commitment to social change extended beyond education, encompassing a diverse
array of initiatives aimed at addressing pressing societal challenges. From
founding organizations like India Leaders for the Social Sector (ILSS) and the
Air Pollution Action Group (APAG) to collaborating on ventures such as the
Centre for Effective Governance of Indian States (CEGIS), Dhawan demonstrated
an unwavering dedication to driving positive change at scale.
Also he worked for many foundation just to serve peoples like Akanksha Foundation, 321 Education Foundation, Teach for India, Center for Civil Scoiety, Jangrah India, Bharti Foundation, School Leadership India and many more .
Impact Amidst Adversity:
The
onset of the COVID-19 pandemic presented unprecedented challenges, but Dhawan's
resolve remained unshaken. In response, he and CSF launched the ACT EdTech
Ambition Fund, a testament to their commitment to ensuring equitable access to
education, especially for marginalized communities. Moreover, the establishment
of the Convergence Foundation underscored Dhawan's strategic approach to
fostering sustainable growth and development in India, even in the face of
adversity.
Dhawan's contributions to philanthropy earned him widespread recognition and acclaim, solidifying his status as a trailblazer in the field. From being honored as the NextGen Leader in Philanthropy by Forbes India to securing a prominent position on the Hurun India Philanthropy List, Dhawan's impact reverberated far beyond the realms of finance and academia.
The Power of Education:
Throughout
his journey, Dhawan remained steadfast in his belief in the transformative
power of education. Whether teaching math and economics to underprivileged
children in Harlem or spearheading initiatives to revolutionize the Indian
education system, Dhawan's unwavering commitment to empowering individuals
through learning remained a driving force behind his philanthropic endeavors.
He follows Power of Four Rule for transforming India in Education Field.
4 Pillars are
-
Affordable education for everybody
-
Best Training to Teachers
-
Using latest technologies in education
-
Maintain Accountability and Transparency
Legacy and Future Endeavors:
As
Dhawan's journey continues to unfold, his legacy is defined not only by
financial success but by the tangible impact he has had on countless lives.
With a steadfast focus on education, social empowerment, and sustainable
development, Dhawan's vision for a brighter, more equitable future for India
and beyond continues to inspire generations to come.
