Neil Banerjee
In the competitive world of mergers and acquisitions (M&A), a field long dominated by men, Shalu Mitruka stands out—not just as a successful entrepreneur but as a beacon of innovation, inclusivity, and leadership. As the Co-Founder and Chief Business Officer (CBO) of GrowthPal, an AI-powered M&A deal sourcing platform, Shalu has efficiently combined her deep technical expertise with an innate entrepreneurial spirit to reshape an industry that’s traditionally been opaque, network-driven, and often inaccessible for smaller businesses.
Vision for smarter deal-sourcing
Shalu’s journey into the M&A sector was not one of mere coincidence but a conscious effort to address the gaps in the industry. “The inspiration behind co-founding GrowthPal stemmed from a desire to challenge the traditional, network-driven, and often male-dominated M&A landscape,” said Shalu. Together with her co-founder, Maneesh Bhandari, she envisioned a platform that would leverage technology to make deal-sourcing smarter, more efficient, and—most importantly—inclusive.
GrowthPal’s mission is clear: to democratise the M&A process for Indian founders by providing a data-driven AI platform that levels the playing field. “We want to expand the exit ecosystem for small and mid-sized Indian businesses,” Shalu explains. Their approach focuses on uncovering off-the-market opportunities, enabling direct engagement between buyers and sellers, without the pressures of competitive bidding wars. This approach, fuelled by AI, enables businesses of all sizes to connect more organically and effectively, moving away from the restrictions of traditional methods.
Shalu’s academic background has been a cornerstone of her success. She holds an undergraduate degree from IIT Kharagpur, where she honed her problem-solving abilities and technical acumen. “At IIT, I built a strong technical foundation that sharpened my appreciation for innovation,” she reflects. Later, her MBA from IIM Lucknow further broadened her perspective on business strategy, leadership, and organisational management. The exposure to entrepreneurial case studies at IIM, along with the rich curriculum, gave her the strategic insights necessary to navigate the complex world of startups.
Her educational journey, however, wasn’t just confined to formal institutions. Shalu’s early attempts at startups during college, though not successful, were formative. “Those experiences taught me resilience, adaptability, and the importance of learning from failure,” she acknowledges. This entrepreneurial mindset, developed early, would prove invaluable as she took on the challenges of building a startup.
From corporate to entrepreneur: Transition of growth
Before launching GrowthPal, Shalu gained critical experience at Deloitte and MindTickle, both of which helped her navigate high-pressure business environments. “At Deloitte, I learned about strategic planning, operational efficiency, and client needs,” she says. However, it was her time at MindTickle, a fast-growing company, that truly prepared her for the unpredictability of startup life. “I learned how to scale operations, build cohesive teams, and prioritise tasks in high-growth environments,” she recalls.
When Shalu made the leap into entrepreneurship, the challenges were starkly different. There was no structured framework, no mentors guiding her steps. “At GrowthPal, there were no clear roadmaps,” she admits. “Every decision mattered.” She had to juggle roles—leading teams, making strategic decisions, handling operations, and managing client relationships. The chaos of startup life was overwhelming at times, but it was also a breeding ground for growth.
The intersection of motherhood and leadership
Shalu’s leadership journey took on a personal dimension when she became a mother. The arrival of her daughter reshaped her approach to decision-making and leadership. “Motherhood gave me a new perspective on work-life balance, prioritisation, and patience,” she reflects. Her leadership style became more empathetic, emphasising the importance of time management and emotional intelligence.
Balancing late-night U.S. sales calls with the demands of motherhood wasn’t easy. “Time management and support systems were key,” she says. “Having a reliable team and a supportive partner at home allowed me to handle late-night work calls without compromising my responsibilities as a mother.” Shalu also learned to set clear boundaries around her work hours and delegate effectively, ensuring that she could focus on her most important priorities—both at work and at home.
Yet, one of the most difficult challenges came when Shalu was not always able to be present for her daughter due to travel and late-night work commitments. “The emotional toll was real,” she admits. “I had to communicate better with my family, explaining my responsibilities and finding ways to be present during key moments.”
Championing women in M&A and beyond
As a woman in a traditionally male-dominated industry, Shalu has always been motivated to break barriers and pave the way for other women. Reflecting on her career, she recalls that early in her journey, the majority of professionals she interacted with were men.
“Investment banking was a predominantly male environment—80 to 90 per cent of the people I worked with were men,” she says. Despite this, Shalu didn’t see gender as a barrier. Instead, she saw it as a challenge to demonstrate that success in the M&A world is about skill, resilience, and execution, not gender.
“The qualities needed in investment banking—resilience, smart decision-making, and the ability to thrive under pressure—are not gender-specific,” she asserts. Shalu’s experience in the industry has shaped her belief that women can thrive in finance and tech if they bring the right attitude and mindset to the table.
Redefining workplace culture for women
Shalu’s commitment to fostering inclusivity goes beyond the walls of her own company. At GrowthPal, she has implemented several initiatives to support women, particularly those returning to work after maternity breaks. “Continuous upskilling is crucial for women returning to work after a break,” she says. “Technological advancements mean that roles in fields like sales, marketing, and investment banking are constantly evolving.”
GrowthPal provides flexible roles and a gradual reintegration process, helping women ease back into work without feeling overwhelmed. “We start by discussing their preferences and offer flexibility in terms of role demands,” Shalu explains. “We focus on smaller, manageable tasks initially and provide mentorship and continuous learning opportunities.” This holistic approach not only helps women build their confidence but also fosters a culture of inclusivity, where they can thrive while balancing family life.
Looking ahead: GrowthPal’s global vision
The future looks promising for both Shalu and GrowthPal. As the company scales its AI-driven M&A platform, Shalu envisions a future where smaller businesses can access smarter, more efficient deal-sourcing strategies. “AI is revolutionising the M&A landscape by uncovering off-the-market deals and providing data-driven insights that allow for smarter, faster decisions,” she says. This innovative approach has already resulted in over 150 M&A pipelines and discussions worth over $1.4 billion, positioning GrowthPal as a leader in the sector.
But Shalu’s ambitions extend beyond business growth. “At GrowthPal, we are committed to fostering a diverse and inclusive workplace,” she affirms. As the company expands, Shalu aims to continue championing inclusivity and empowering women to reach their leadership potential.
Advice for aspiring women leaders
Shalu’s journey offers invaluable lessons for aspiring women in leadership, particularly in industries like finance and tech. “Develop your skills and expertise, and become a subject-matter expert,” she advises. “Take risks, seize opportunities, and don’t let societal expectations limit your ambitions.” She also emphasises the importance of self-prioritisation—“You cannot give your best to others unless you prioritise your own well-being,” she says.
For women aspiring to leadership roles, Shalu’s advice is clear: “Believe in yourself. Surround yourself with mentors and never be afraid to ask for help.” Most importantly, she urges women to take small steps toward their goals, staying focused on their long-term aspirations, even if progress feels slow.
Shalu Mitruka’s journey from a driven IIT-IIM graduate to the co-founder of a groundbreaking AI platform in the M&A space is a testament to the power of resilience, innovation, and inclusivity. Through GrowthPal, she is not only reshaping the M&A landscape but also creating a more inclusive and supportive environment for women in leadership. Her story is a reminder that success is not determined by gender but by the courage to challenge norms, adapt, and lead with empathy and vision.
