Leadership Team
Madhu Chaudhary
Founder & CEO
Madhu Chaudhary is the Founder and CEO of Indago Research, overseeing research operations and client servicing. He has extensive experience as an investment analyst, having worked at Contrast Capital Management, Zuna Capital Partners, and Sequence Capital specializing in financial analysis, due diligence, and portfolio management. Madhu holds an MBA from Babson College, an MA in Finance and Investment from the University of Exeter, and a Bachelor’s in Commerce from Bangalore University.
Parth Upadhyay
Senior Manager
Parth Upadhyay is a Senior Manager at Indago Research, leading industry analysis, peer evaluations, and client servicing. Previously, he worked in brand audit and marketing at Acterim, a French staffing firm. He holds an MSc in International Finance and an Masters in Management (MIM) from Rennes School of Business in France, along with a B.Tech in Electronics and Communication. Fluent in English and Hindi, Parth is also a passionate footballer, having played in the Coupe de France and for Islands United Football Club in India.
Nidhi Jani
Senior Manager
Nidhi Jani is a Senior Manager at Indago Research, overseeing research operations and financial analysis. She previously worked at Acuity Knowledge Partners, producing in-depth company reports and earnings commentary, and at Dalal Street Investment Journal, conducting equity research and management interviews. She also has experience as an equity advisor at Karvy Stock Broking. Having completed all levels of the CFA program, she is fluent in English, Hindi, and Gujarati and holds a Master’s in Commerce with a specialization in accounting and finance.
Darshan Bhandari
Darshan Bhandari is a Senior Manager at Indago Research, leading strategic financial modeling, in-depth company/industry analysis and client servicing. Previously, he worked in merchant banking at Trust Investment Advisors, a financing advisory firm in Mumbai, and prior to that, gained experience at the prop trading firm Futures First in Kolkata. He has completed all three levels of the CFA program, along with a B.Com from St. Xavier’s College, Kolkata with a specialization in accounting and finance.
Craig Dickens
Managing Partner
Craig is a seasoned entrepreneur and investor with deep expertise across the business lifecycle, from startups to IPOs, mergers, and acquisitions. He serves as Chairman and Managing Partner of Merit Investment Bank, a top-tier M&A advisory firm with a track record of several billion dollars in advised transactions. He has worked with prominent family offices and private equity firms, identifying and executing high-value opportunities. His achievements include taking a company public and selling another to a publicly traded firm. With a vast industry network, he continues to connect businesses with the capital and resources needed to scale and succeed.
Francis X. Claró
Managing Partner
Francis is a seasoned investment professional with decades of experience in global financial markets. He is the founder and managing member of Contrast Capital Management, overseeing global investment strategies. Previously, he held senior roles at Wells Capital Management and the Inter-American Investment Corporation. A CFA charterholder, he holds degrees from ESADE, the London School of Economics, and an MBA from Harvard. Fluent in Spanish and Catalan, he has been featured on CNBC, CNNfn, and Bloomberg TV.