Team Overview

The HS team is managed and controlled by principals who are actively involved in all of the investment decisions and portfolio company oversight.

Neal Shah

Mr. Neal Shah serves as a Principal at HS Holdings. Mr. Shah’s activities involve business development, strategic initiatives, and M&A. Mr. Shah worked as a Consultant at the International Strategy Consulting firm of Bain & Company. Prior to that, he has had experience in a variety of industries through his portfolio companies of Impact Stamping and AMRAS as well as his venture backed start up, MedOnTime. Mr. Shah also worked as an Investment Banker at Stern Stewart & Company. Mr. Shah holds an MBA from Rice University and graduated from The Wharton School at the University of Pennsylvania.

Martin Wind

Martin Wind is a seasoned IT professional with over 25 years experience in various IT and engineering disciplines. At HS Holdings, Mr. Wind consults on all technology and strategy initiatives providing specific expertise on security and privacy issues. Martin has a proven track record of success with Fortune 500 companies building clients’ vision and growth goals supported by operational execution and disciplined measurement. Martin is adept at omni-channel and strategic planning with leadership skills in management and business operations. He has developed and implemented roadmaps for technology initiatives and strategies with budgets exceeding $20 million USD. Martin operates with high integrity, exceptional communication, and outstanding customer relationship skills.

Manish Chhadua

Mr. Manish Chhadua serves as a Principal to HS Holdings. Mr. Chhadua’s activities involve strategic technical consulting, evaluating emerging markets and identifying opportunities for innovation. Mr. Chhadua has over 17 years of experience in delivering successful products within small, medium and large environments. He has led dynamic projects and architectural teams, with a strong emphasis on managing business relationships with partners, clients and vendors. He holds a Bachelors in Computer Science from the University of Texas at Austin.

Kevin Shah

Mr. Kevin Shah serves as a Manager at HS Holdings. Mr. Shah’s activities involve consulting, business development and strategic operating initiatives, including acquisitions. Kevin currently serves as a Manager in the Business Development group at GOAT – Sneaker Marketplace ($100M Venture backed startup). Prior to that he worked in the Corporate Strategy group at The Walt Disney Company and the Business Valuation group of Deloitte. He holds an MBA from UCLA Anderson School of Management and a Bachelor’s in Business Administration from Georgetown University in Washington DC.

Jaylen Patel

Mr. Jaylen Patel serves as an Analyst at HS Holdings. Mr. Patel’s activities involve business development and strategic operating initiatives. Jaylen currently serves as an Analyst in the portfolio company Heat Source Inc. He holds a B.S. in Biochemistry and minor in General Business from The Ohio State University in Columbus, Ohio.

Chad Sayler

Chad Sayler is a full stack developer for HS Holdings. Mr. Sayler helps to identify emerging technologies and trends in digital marketing strategies to current clients. Chad holds a B.S. in Business Computer Information Systems from the University of North Texas.

Deep Sanghvi

Mr. Deep Sanghvi serves as an Analyst at HS Holdings. Mr. Sanghvi’s activities include business development and strategic operating activities including mergers and acquisitions. Deep currently works as an Associate at Second Wave Capital Management, a principal investor in southern California. Prior to that, he was an Analyst at L Squared Capital Partners and Cash Management Officer at TMX Group. He holds a Bachelor’s in Business Administration from University of Windsor and an MBA from University of California, Irvine – Paul Merage School of Business.


Mitul Shah

Mr. Mitul Shah serves as an advisor to HS Holdings. He is a seasoned consumer goods professional with over 15 years of industry experience, split across Finance, Strategic Planning and General Management roles. He has worked for several top tier multi-billion dollar CPG companies, including Unilever, Mars, the Wonderful Company and Mattel. In his most recent role at Mattel, Mr. Shah was responsible for oversight of Mattel’s company-wide operating budget of $1.5B. Prior to that, Mr. Shah founded the Pricing Center of Excellence within Mattel, which optimized Mattel’s consumer pricing strategy. Mr. Shah holds a BS in Finance and Accounting from New York University, and an MBA from the Wharton School at the University of Pennsylvania.

Raj Chhadua

Mr. Raj Chhadua serves as an advisor to HS Holdings. Raj currently serves as the managing partner for ReNue Apothecary GP. With over 18 years of pharmacy experience, Raj provides operational leadership and management acumen to the pharmacy division of ReNue Pharmacy and 5 independent pharmacy locations. Raj’s past experience consisted of operational leadership and management acumen to the pharmacy division of the $14.5B DaVita HealthCare Partners and built a distinguished 14-year record of achievement and advancement in the Walgreens Retail Pharmacy USA Division.

Jeff Clay

Mr. Jeff Clay serves as an Advisor at HS Holdings. Mr. Clay’s activities involve business development and Portfolio Company advisory. He currently serves as the VP of Strategy & Corporate Development at Roofing Supply Group, a national distributor of building products. Mr. Clay worked in various staff and operating roles with Xerox with his final role as COO of their benefits consulting and outsourcing division (Buck Consultants). Prior to that, he held several roles in the construction industry with Pearl Real Estate & TD Industries. Mr. Clay began his career as a Consultant at the International Strategy Consulting firm Bain & Company. Mr. Clay holds an MBA from INSEAD in Fontainebleau, France, a BBA in Accounting and MS in Finance from Texas A&M University. Mr. Clay is an active CPA.

Kekin Ghelani

Mr. Kekin Ghelani is a Sr. Director of Corporate Strategy and Business Development at Celanese Corp., a leading materials technology company. He also serves as an adviser to HS Holdings. Mr. Ghelani has more than 20 years of experience in corporate strategy, mergers & acquisitions, marketing and general management. Prior to his current role, Mr. Ghelani was at McKesson, a leading healthcare technology company, where he led the turnaround of a $350MM annual revenue Managed Services business unit. Prior to that, Mr. Ghelani spent 7 years at Honeywell where he was the General Manager of a $100MM annual revenue, global, Health Care, and Medical business units for a period of 4 years. Mr. Ghelani was also the co-founder of MedOnTime and led operational improvement activities at General Motors. Mr. Ghelani holds an MBA from Emory University and a B.S. in Mechanical Engineering.

Nilay Sheth

Nilay Sheth serves as an advisor to HS Holdings. Nilay works as a Chief Technologist in HP’s Travel and Transportation vertical. As a chief technologist, Nilay is responsible for providing strategy and architectural direction for products in the Big Data, Analytics and Operations areas. As a technologist, Nilay frequently engages with key customers, partners and vendors to champion HP’s vision and how it aligns with the customer’s roadmap. Over the last few years, he has conceptualized and delivered multiple product suites and anchored several key client engagements. Prior to HP, Nilay has lead delivery for several large product suites, technology programs and technology initiatives for mid-size/large companies in the Healthcare, Printing and Telecom industries. Nilay has a BTech in Electrical Engineering from IIT Bombay, MS in Computer Science and an MBA. He has several patents and publications to his credit in the of Printing and Telecom areas.

Our Interns

Summer 2019