She joined NIIF in March 2020 as Executive Director – Direct Investments. At NIIF, she oversees all direct investments made by the funds managed by NIIF.

Prior to joining NIIF, she was the CEO & CIO of Neev Fund, managed by SBI Cap Ventures Ltd. At NEEV, she completed final fund negotiations with DFID, UK the majority sponsor, recruited and lead the Fund team and committed a third of the corpus in diverse investments in the renewables & social infrastructure space.

Prior to Neev, Ambalika had spent about 8 years with Macquarie Capital. She started her stint with Macquarie in Singapore and eventually rose to become the Managing Director of Macquarie SBI Infrastructure Fund. She was instrumental in conceptualising the fund, bringing in the sponsors, and raising the corpus of one of the largest India dedicated equity funds at the time, while also , setting up a team of high quality professionals  and originating & committing a substantial portion of the funds corpus in marquee transactions in the airports and telecom infrastructure space.

She has worked with several other reputed organizations such as Dresdner Bank AG and Barclays Capital with pan Asian and Indian coverage, across several products from equity investing, PPP, debt advisory and restructuring.

Ambalika started her career with SBI and spent 10 years with the organization managing several large corporate customers of the Bank, their working capital and project financing needs as well as some restructurings.

She has done her Bachelor of Science (Microbiology major) from Mumbai University and holds a Masters in Financial Management from Jamnalal Bajaj Institute of Management Studies.