Our Team

We bring research, discipline, and experience to every investment decision.

Drona Advisory Services Limited

Drona Advisory Services Limited offers advisory services to Starmark Investment Management Limited through a Research and Advisory Agreement. Starmark Investment Management Limited serves as the investment manager for Drona Capital Limited, a long-only equity fund firm. Drona Capital aims to achieve long-term capital growth for its clients by applying a proven value-investing strategy, with a focus on delivering sustainable returns while minimizing risk.

Roli Saxena

Roli Saxena

Founder and CEO, Drona Advisory Service Limited

FCA Approved Person (CF30)

Roli has been chief investment advisor of Drona Capital since its inception in 2012 . She has helped the firm identify and invest in many high quality companies over these year. Apart from helping build a strong track record for the fund for over a decade through her ability to analyse stocks based on qualitatively and quantitative characteristics, she has proven her temperament of staying focused and detached from the macros noise over the years to seek great opportunities to invest. She has helped the fund identify some extremely high quality businesses during Covid that have given the investors ability to own great businesses at a discounted price. Prior to advising the fund, Roli accumulated 15 years of international business experience across various sectors, including Oil and Gas, Technology, IT Sourcing, BPO Operations, and Education, working in Europe, the Middle East, and Asia. She made history as the first and only woman to lead country operations for Compaq in Bahrain.

Roli holds the Investment Management Certificate (IMC) from the CFA Society UK and a Corporate Finance accreditation from the London Business School. She graduated with a Gold Medal and First Class (Honours) degree in Engineering from Punjab Engineering College, India in 1991.

Passionate about education, employment, and social mobility, Roli has sponsored English language teaching programs and provided library books to three government schools in India and has also served on the grants committee for Social Venture Partners in Bangalore.

A proud mother of three, Roli currently resides in London.

Nish Sivarajan

Nish Sivarajan

Head of Investor Relations

FCA Approved Person (CF30)

With over 20 years of experience in both public and private capital markets, Nish specialises in private placements, institutional fundraising, and investor relations. At Drona, he oversees all client relationships, ensuring strategic alignment and fostering long-term partnerships.

Nish holds an MSc in International Banking and Finance from the University of Birmingham. His career encompasses significant roles at Lazard, Foresight Group, Cromwell and Bloc Ventures where he led initiatives in relationship building, capital strategy, and investment activities.

Recognised as an authority in nurturing investor relations, crafting marketing strategies, and delivering impactful communications, Nish consistently adds substantial value to his current and past roles.

Sreenivas Raju

Sreenivas Raju

Senior Research Analyst

Sreenivas is a CFA Level II candidate with over nine years of experience in equity research and financial analysis, with a focus on U.S. public markets at Drona Capital. He leads in-depth research and valuation initiatives for companies across various market capitalizations—small, mid, and large cap—in sectors such as Industrials, Healthcare, and Auto Parts. His skill set spans the entire equity analysis process, including financial modelling, revenue forecasting, competitive benchmarking, strategic assessment, and company valuation.

Over the years, he has been instrumental in supporting strategic advisory decisions that have contributed meaningfully to portfolio performance.

Sreenivas holds a B.Com in Finance and Accounting from Christ University and progressed to CA Level II while pursuing the Chartered Accountancy qualification. Before joining Drona Capital as an Analyst in 2015, he worked for over a year as an Auditor at Prolead Financial Solutions.

Shrey Sao

Shrey Sao, cfa

Equity Research Advisor

Shrey brings over 12 years of experience, having evolved from an individual investor to leading investments for his family office, with a strong focus on Indian equities and emerging small-cap moats. Several of his early investments have matured into successful mid-cap companies.

He previously served as a Research Analyst at Valuepickr Research & Analytics and later as Head of Learning & Development at Visible Alpha (now part of S&P Global). In addition to his professional roles, Shrey actively mentors businesses, professionals, and students in areas such as strategy, investing, leadership, and career development.

A CFA charterholder, Shrey holds a Postgraduate Certificate in Securities Markets from NISM, Mumbai, and a degree in Electronics & Communication Engineering from SRM University. He is also the author of the Amazon bestseller Chanakya: The Career Sarthi, reflecting his passion for career alignment. Outside of work, Shrey is a committed advocate for animal welfare.