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Private equityFirmbuyout · probablelower middle market

NDB Zephyr Partners Limited

Private Equity

Ebene

Zephyr Management is a global emerging markets investment manager, specializing in the creation and management of highly focused private equity and venture capital funds.

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:90875a4c-1fe6-4a03-bf3f-4789ce342ab3

Data as of Sep 18, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures. Page built Sep 19, 2026, 6:44 AM UTC and rebuilt at most every 15 minutes.

Relationships: 78
Dated events: 35
On other graphs: 0
Observed: Sep 13, 2026 to Sep 18, 2026
31 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Funds: 1
PE funds: 1
PE GAV, 2024 filing: $7.8Mgross asset value on Form ADV; never dry powder
Investments: 33
Active investments: 3
Size band: LOWER MIDDLE MARKETderivedproxy: $0.01bn Private Equity Fund GAV on the Form ADV filed 2024-03-21
Stated sectors: food_beverage,financial_services,agriculture
Latest ADV filing: Mar 21, 2024
Website: zmlp.com

Funds

Fund	Vintage	Lifecycle	ADV type	Form D sold	GAV	LPs
Emerald Sri Lanka Fund I Limited	n/a	Harvest	Private Equity Fund	n/a	$7.8M	0

Investments

Company	State	Role	Control	Invested	Exited	Status
Showroom B2B	n/a	platform	control	Mar 23, 2026	n/a	active
India rights	n/a	Add on	control	May 13, 2025	n/a	active
Showroom B2B B&W	n/a	unknown	unknown	n/a	n/a	unknown
Cerelia Foods BW	n/a	unknown	unknown	n/a	n/a	unknown
Afri-Flora BW	n/a	unknown	unknown	n/a	n/a	unknown
Samed	n/a	unknown	unknown	n/a	n/a	unknown
Origin BW	n/a	unknown	unknown	n/a	n/a	unknown
Family Milk	n/a	unknown	unknown	n/a	n/a	unknown
Agnitsemi	n/a	unknown	unknown	n/a	n/a	unknown
Unnati	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2019	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2021	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2020	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2008	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2015	n/a	unknown	unknown	n/a	n/a	unknown
AZA Finance	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :1998	n/a	unknown	unknown	n/a	n/a	exited
Zippmat	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2018	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2014	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2011	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2009	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :1996	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2016	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :1985	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :1977	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :1993	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2003	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2005	n/a	unknown	unknown	n/a	n/a	unknown
FOUNDED :2010	n/a	unknown	unknown	n/a	n/a	unknown

Relationships

Invested in (33)

→ CurefoodsCompanyplatform
factNews and newswire
→ India rightsCompanyAdd on
May 13, 2025 to presentfactNews and newswire
→ Showroom B2BCompanyplatform
Mar 23, 2026 to presentfactNews and newswire
→ ZippmatCompanyunknown
factThe subject's own site
→ FOUNDED :2020Companyunknown
factThe subject's own site
→ FOUNDED :2008Companyunknown
factThe subject's own site
→ FOUNDED :2015Companyunknown
factThe subject's own site
→ AZA FinanceCompanyunknown
factThe subject's own site
→ FOUNDED :1998Companyunknown
factThe subject's own site
→ FOUNDED :2018Companyunknown
factThe subject's own site
→ FOUNDED :2014Companyunknown
factThe subject's own site
→ FOUNDED :2011Companyunknown
factThe subject's own site
→ FOUNDED :2009Companyunknown
factThe subject's own site
→ FOUNDED :1996Companyunknown
factThe subject's own site
→ FOUNDED :2016Companyunknown
factThe subject's own site
→ FOUNDED :1985Companyunknown
factThe subject's own site
→ FOUNDED :1977Companyunknown
factThe subject's own site
→ FOUNDED :1993Companyunknown
factThe subject's own site
→ FOUNDED :2003Companyunknown
factThe subject's own site
→ FOUNDED :2005Companyunknown
factThe subject's own site
→ FOUNDED :2010Companyunknown
factThe subject's own site
→ FOUNDED :2004Companyunknown
factThe subject's own site
→ FOUNDED :1992Companyunknown
factThe subject's own site
→ Showroom B2B B&WCompanyunknown
factThe subject's own site
→ Cerelia Foods BWCompanyunknown
factThe subject's own site
→ Afri-Flora BWCompanyunknown
factThe subject's own site
→ SamedCompanyunknown
factThe subject's own site
→ Origin BWCompanyunknown
factThe subject's own site
→ Family MilkCompanyunknown
factThe subject's own site
→ AgnitsemiCompanyunknown
factThe subject's own site
and 3 more

Employs (36)

→ Tim HorsburghPersonPortfolio Manager and Director of Research
factThe subject's own site
→ Tina KeriazesPersonHead of Client Services
factThe subject's own site
→ Thomas Corcoran BarryPersonChairman, Cco And Limited Partner Of Zephyr Management, L.P.; Director, Chairman & Major Shareholder, Zephyr Management, Inc.
Dec 1, 1994 to presentfactForm ADV, The subject's own site
→ Stephen E. CanterPersonManaging Director
factThe subject's own site
→ Ravi ChoudharyPersonVice President, Portfolio Operations
factThe subject's own site
→ Rishabh AggarwalPersonAnalyst, Research and Investments
factThe subject's own site
→ Regina BeechertPersonCompliance Manager
factThe subject's own site
→ Om PawaskarPersonAssociate, Investments and Research
factThe subject's own site
→ Nisha BijuPersonAdministrative Executive
factThe subject's own site
→ Nikhil SultaniaPersonVice President, Accounts and Finance
factThe subject's own site
→ Naveena Prasad M.PersonMarketing Communications Analyst
factThe subject's own site
→ Aman SoniPersonAssociate, Research and Investments
factThe subject's own site
→ Anisha BhardwajPersonOperations and Research Manager
factThe subject's own site
→ Andrea GeisserPersonSenior Advisor
factThe subject's own site
→ Aryaman KhoslaPersonAnalyst, Research and Investments
factThe subject's own site
→ Bharadwaj ReddyPersonSenior Associate, Finance
factThe subject's own site
→ Laldinpuii RaltePersonVice President, Marketing and ESG
factThe subject's own site
→ Mukul GulatiPersonLimited Partner, Ceo, Cio And President Of Zephyr Management, L.P.; Shareholder Of Zephyr Management, Inc.
Jan 1, 2017 to presentfactForm ADV, The subject's own site
→ Lillian AnselmiPersonFamily Office Advisor
factThe subject's own site
→ Yash BerliaPersonAnalyst, Research and Investments
factThe subject's own site
→ Tulika SharmaPersonFund Operations Manager
factThe subject's own site
→ Panagoda Liyanage Dimantha N SeneviratnePersonDirector - N D B Zephyr Partners Lanka (Private) Limited
Aug 1, 2019 to presentfactForm ADV
→ Bernard Sujanthan SinniahPersonDirector - N D B Zephyr Partners Lanka (Private) Limited
Feb 1, 2021 to presentfactForm ADV
→ Ananda Wijetilaka AtukoralaPersonDirector - Ndb Zephyr Partners Limited
Oct 1, 2018 to presentfactForm ADV
→ Wendy RamakrishnanPersonDirector - Ndb Zephyr Partners Limited
Nov 1, 2023 to presentfactForm ADV
→ Arjun Rishya FernandoPersonDirector - Ndb Zephyr Partners Limited
Mar 1, 2018 to presentfactForm ADV
→ Sarath WikramanayakePersonChairman - N D B Zephyr Partners Lanka (Private) Limited
Nov 1, 2016 to presentfactForm ADV
→ Dilshaad RajabaleePersonDirector - Ndb Zephyr Partners Limited
Dec 1, 2014 to presentfactForm ADV
→ Bibi MandaryPersonDirector - Ndb Zephyr Partners Limited
Dec 1, 2014 to Mar 14, 2018inferenceForm ADV
→ Girish PatilPersonManaging Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited
Nov 1, 2015 to Mar 21, 2024inferenceForm ADV
and 6 more

Firm member (1)

→ ZephyrFirmadviser
factDFX's own graph

Manages (1)

→ Emerald Sri Lanka Fund I LimitedFundPrivate Equity Fund
Feb 11, 2015 to presentfactForm ADV

Owns (4)

← Zephyr Management, Inc.FirmShareholder - Ndb Zephyr Partners Limited
Dec 1, 2014 to presentfactForm ADV
← NDB Capital Holdings PlcFirmShareholder - Ndb Zephyr Partners Limited
Dec 1, 2014 to presentfactForm ADV
← National Development Bank PlcFirmShareholder
Oct 1, 1983 to presentfactForm ADV
← NDB Zephyr Partners LimitedFirmParent Corporation Of N D B Zephyr Partners Lanka (Private) Limited
Jan 1, 2015 to presentfactForm ADV

Dated events

13 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Mar 23, 2026
Firm news
Zephyr Peacock India invests in Showroom B2B
The subject's own siteobserved yesterday
Occurred
Mar 23, 2026
Platform investment
Zephyr Peacock India invests in Showroom B2B
Showroom B2B News and newswireobserved today
Occurred
Mar 23, 2026
Transaction announced
Zephyr Peacock India invests in Showroom B2B
News and newswireobserved today
Occurred
May 13, 2025
Transaction announced
Curefoods acquires India rights to Krispy Kreme, plans Northern expansion
News and newswireobserved today
Occurred
Mar 21, 2024
Person left
Girish Patil (Managing Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Mar 21, 2024
Person left
Arunagirinatha Runghien (Director - Ndb Zephyr Partners Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Nov 1, 2023
Person joined
Wendy Ramakrishnan joined Schedule A of NDB Zephyr Partners Limited as Director - Ndb Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Mar 22, 2021
Person left
Vajira Kulatilaka (Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Mar 22, 2021
Person left
Senaka Kakiriwaragodage (Managing Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Feb 1, 2021
Person joined
Bernard Sujanthan Sinniah joined Schedule A of NDB Zephyr Partners Limited as Director - N D B Zephyr Partners Lanka (Private) Limited
Form ADVobserved 5 days ago
Occurred
Aug 1, 2019
Person joined
Panagoda Liyanage Dimantha N Seneviratne joined Schedule A of NDB Zephyr Partners Limited as Director - N D B Zephyr Partners Lanka (Private) Limited
Form ADVobserved 5 days ago
Occurred
Mar 12, 2019
Person left
Kooshal Ashley Torul (Director - Ndb Zephyr Partners Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Oct 1, 2018
Person joined
Ananda Wijetilaka Atukorala joined Schedule A of NDB Zephyr Partners Limited as Director - Ndb Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Apr 1, 2018
Person joined
Arunagirinatha Runghien joined Schedule A of NDB Zephyr Partners Limited as Director - Ndb Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Mar 14, 2018
Person left
Bibi Mandary (Director - Ndb Zephyr Partners Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Mar 1, 2018
Person joined
Arjun Rishya Fernando joined Schedule A of NDB Zephyr Partners Limited as Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited
Form ADVobserved 5 days ago
Occurred
Feb 16, 2017
Person left
Rajendra Theagarajah (Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Nov 1, 2016
Person joined
Sarath Wikramanayake joined Schedule A of NDB Zephyr Partners Limited as Director - N D B Zephyr Partners Lanka (Private) Limited
Form ADVobserved 5 days ago
Occurred
Apr 1, 2016
Person joined
Kooshal Ashley Torul joined Schedule A of NDB Zephyr Partners Limited as Director - Ndb Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Nov 1, 2015
Person joined
Girish Patil joined Schedule A of NDB Zephyr Partners Limited as Managing Director - Ndb Zephyr Partners Limited And N D B Zephyr Partners Lanka (Private) Limited
Form ADVobserved 5 days ago
Occurred
Jun 22, 2015
Person left
Karthik Bhat (Managing Director - Ndb Zephyr Partners Limited) no longer on Schedule A of NDB Zephyr Partners Limited
Form ADVobserved 5 days ago
Occurred
Feb 11, 2015
Adviser first adv filing
NDB Zephyr Partners Limited first filed Form ADV in the extract (ERA)
Form ADVobserved 5 days ago

Show 13 bookkeeping events

First seen by DFX
Sep 17, 2026
date not stated
SandMartin Impact Capital Announces Strategic Advisory Partnership with Zephyr Management
First seen by DFX
Sep 17, 2026
date not stated
Curefoods acquires India rights to Krispy Kreme, plans Northern expansion
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Curefoods Acquires Krispy Kreme’s South And West India Operations
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Ripplr hires banker for Series B round, net sales set to grow sixfold in this fiscal
First seen by DFX
Sep 17, 2026
date not stated
PE-VC exit deals rebound in Q3 2020
First seen by DFX
Sep 17, 2026
date not stated
Mid-stage investments will account for a major portion, once activity resumes: Zephyr Peacock India MD
First seen by DFX
Sep 17, 2026
date not stated
Checks on Chinese investments likely to keep Indian start-ups on tenterhooks
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Zephyr Peacock-backed Utkal Tubers appoints Vinod Bhat as CEO
First seen by DFX
Sep 17, 2026
date not stated
COVID-19 impact: VC, PE-VC exit deals tumble in Q1 2020
First seen by DFX
Sep 17, 2026
date not stated
Here is an investment checklist to identify resilient businesses by Pankaj Raina
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Zephyr Peacock backed 20Cube hires senior executives
First seen by DFX
Sep 17, 2026
date not stated
The potential positive economic impact of investment bubbles by Mukul Gulati
Occurred
Feb 11, 2015
Emerald Sri Lanka Fund I Limited first reported on Form ADV by NDB Zephyr Partners Limited (Private Equity Fund)

Who to call

the organisation, the role and the published line, with the filing or website that published it; revealed to signed-in accounts

The firm's published line

Revealable: 1 business phone (Form ADV), 1 office address (Form ADV), 1 website (Form ADV) · as of 2026-09-13

Tim Horsburgh
Portfolio Manager and Director of Research · Revealable: 1 professional profile (firm website)
Tina Keriazes
Head of Client Services · Revealable: 1 professional profile (firm website)
Stephen E. Canter
Managing Director · Revealable: 1 professional profile (firm website)
Ravi Choudhary
Vice President, Portfolio Operations · Revealable: 1 professional profile (firm website)
Rishabh Aggarwal
Analyst, Research and Investments · Revealable: 1 professional profile (firm website)
Regina Beechert
Compliance Manager · Revealable: 1 professional profile (firm website)
Om Pawaskar
Associate, Investments and Research · Revealable: 1 professional profile (firm website)
Nisha Biju
Administrative Executive · Revealable: 1 professional profile (firm website)
Nikhil Sultania
Vice President, Accounts and Finance · Revealable: 1 professional profile (firm website)
Naveena Prasad M.
Marketing Communications Analyst · Revealable: 1 professional profile (firm website)
Aman Soni
Associate, Research and Investments · Revealable: 1 professional profile (firm website)
Anisha Bhardwaj
Operations and Research Manager · Revealable: 1 professional profile (firm website)
Andrea Geisser
Senior Advisor · Revealable: 1 professional profile (firm website)
Aryaman Khosla
Analyst, Research and Investments · Revealable: 1 professional profile (firm website)
Bharadwaj Reddy
Senior Associate, Finance · Revealable: 1 professional profile (firm website)
Laldinpuii Ralte
Vice President, Marketing and ESG · Revealable: 1 professional profile (firm website)
Mukul Gulati
Limited Partner, Ceo, Cio And President Of Zephyr Management, L.P.; Shareholder Of Zephyr Management, Inc. · Revealable: 1 professional profile (firm website)
Lillian Anselmi
Family Office Advisor · Revealable: 1 professional profile (firm website)
Yash Berlia
Analyst, Research and Investments · Revealable: 1 professional profile (firm website)
Tulika Sharma
Fund Operations Manager · Revealable: 1 professional profile (firm website)

Also named here, with no published line of their own (reach them through the firm): Thomas Corcoran Barry (Chairman, Cco And Limited Partner Of Zephyr Management, L.P.; Director, Chairman & Major Shareholder, Zephyr Management, Inc.), Panagoda Liyanage Dimantha N Seneviratne (Director - N D B Zephyr Partners Lanka (Private) Limited), Bernard Sujanthan Sinniah (Director - N D B Zephyr Partners Lanka (Private) Limited), Ananda Wijetilaka Atukorala (Director - Ndb Zephyr Partners Limited), Wendy Ramakrishnan (Director - Ndb Zephyr Partners Limited), Arjun Rishya Fernando (Director - Ndb Zephyr Partners Limited), Sarath Wikramanayake (Chairman - N D B Zephyr Partners Lanka (Private) Limited), Dilshaad Rajabalee (Director - Ndb Zephyr Partners Limited).

Who to call is the organisation, the person's role and the line they published themselves: a business phone, office address, website or profile link from Form ADV, Form 13F or their own website, with that source named on every value. The counts above are what a reveal returns; a personal email is rarely published, so most reveals are the firm's line. Never data bought from a provider, never anything personal. Reveals by plan

Provenance