Vikram Gandhi - Faculty & Research (2024)

Vikram Gandhi - Faculty & Research (1)

In this episode of ‘Sustainability Talks’ hosts Patrick Sheehan (Founder & Managing Partner, ETF Partners), Rob Genieser (Managing Partner, ETF Partners) and Remy de Tonnac (Partner, ETF Partners) are joined by special guest Vikram S. Gandhi to discuss "Investing: Risk, Reward, and Impact."

Vikram Gandhi - Faculty & Research (2)

Global Investment Summit is an international program for expert-led debate between global leaders, investors, and innovators with the power to shape the future of global investment.

Vikram Gandhi - Faculty & Research (6)

Vikram Gandhi and Peter Boockvar, CIO at Bleakley Advisory Group, join "Squawk Box" to discuss why investing for impact seems to be growing and why investors should approach it with caution.

Vikram Gandhi - Faculty & Research (7)

Since 1924, Harvard Business School (HBS) has used the case study method to teach decision-making skills to business students. Nearly 80 percent of cases used at B-schools are developed by HBS faculty who work with business leaders around the world to write over 350 new cases each year.


Vikram Gandhi, a former Wall Street investment banker who now teaches a course at Harvard Business School that focuses on return, risk and impact investing, also sees investment opportunities for DAFs that go well beyond the usual ESG funds.

Vikram S. Gandhi is a Senior Lecturer in the General Management Unit. He has developed and teaches a new course, Sustainable Investing, in the Elective Curriculum of the MBA Program. He also teaches Leadership & Corporate Accountability and FIELD Global Immersion, and has taught the Entrepreneurial Manager, in the Required Curriculum of the MBA Program. Along with MBA courses, he has taught in various Executive Education programs. In addition, Vikram is a visiting faculty member of Schwarzman College and Tsinghua University, Beijing. He is a member of the Impact Co-Laboratory focusing on research in the area of Impact Investing.

Vikram is the Founder of Asha Impact. Asha Impact is an impact-oriented venture capital firm that invests equity capital with a target of market-rate returns in social enterprises. In addition, Asha works with its investee companies in providing strategic and management direction, access to its network, and guidance on impact measurement and management. Its affiliated organization, Asha Trust, engages with government, business and civil society on key policy issues.

He is also a Senior Advisor to The Canada Pension Plan Investment Board. He is the Chairman of the Board of the Growth for Good Acquisition Corporation, a recently launched SPAC focused on a combination with a business that has strong fundamentals, high growth potential, and a mission to positively impact the environment and society. He is also a member of the Business Administration Advisory Board at University of the People. He is a member of the Young Presidents Organization (YPO) since 1997 and has been a part of the New York, Hong Kong and Mumbai chapters. He has spent 23 years in investment banking at Morgan Stanley and Credit Suisse. He holds an MBA from the Harvard Business School (Class of 1989) where he was designated a Baker Scholar, and a B.Com from the University of Mumbai. He is also a qualified Chartered Accountant.

Vikram was Vice Chairman of Investment Banking and Global Head of the Financial Institutions Business for Credit Suisse, in New York and Hong Kong. He was a member of Credit Suisse's Global Investment Banking Management Committee and the Fixed Income Operating Committee. Prior to his tenure at Credit Suisse, Vikram worked at Morgan Stanley, where he was Co-Head of Global FIG in New York; his prior work at Morgan Stanley included heading the Firm's institutional strategy area, its Global E-commerce Committee, and as Country Head and President of Morgan Stanley India. During his career in investment banking, Vikram has focused on advising Board of Directors and CEO’s around the globe on strategic direction and the implementation of major mergers, acquisitions, initial public offerings and other capital raising initiatives, and corporate restructurings and buyouts.

Vikram has been involved with various developmental activities in India and globally. He is a memer of the Board of Directors of the Grameen Foundation, and a Board Member of Jana Small Finance Bank and KEC International. Vikram is a Founding Member of Harvard University’s South Asia Initiative, and a Founder of Ashoka University, the first liberal arts college established in India. He is a member of The Global Leaders Circle at Harvard Business School.

Featured Work

Vikram Gandhi - Faculty & Research (8)

In this episode of ‘Sustainability Talks’ hosts Patrick Sheehan (Founder & Managing Partner, ETF Partners), Rob Genieser (Managing Partner, ETF Partners) and Remy de Tonnac (Partner, ETF Partners) are joined by special guest Vikram S. Gandhi to discuss "Investing: Risk, Reward, and Impact."

Vikram Gandhi - Faculty & Research (9)

Global Investment Summit is an international program for expert-led debate between global leaders, investors, and innovators with the power to shape the future of global investment.

Vikram Gandhi - Faculty & Research (13)

Vikram Gandhi and Peter Boockvar, CIO at Bleakley Advisory Group, join "Squawk Box" to discuss why investing for impact seems to be growing and why investors should approach it with caution.

Vikram Gandhi - Faculty & Research (14)

Since 1924, Harvard Business School (HBS) has used the case study method to teach decision-making skills to business students. Nearly 80 percent of cases used at B-schools are developed by HBS faculty who work with business leaders around the world to write over 350 new cases each year.


Vikram Gandhi, a former Wall Street investment banker who now teaches a course at Harvard Business School that focuses on return, risk and impact investing, also sees investment opportunities for DAFs that go well beyond the usual ESG funds.

Book Chapters
  • "The 10 Rules of Investing: Best Practices for Building Wealth and taking Care of Your Future Self." In Investing Playbook. Investopedia, forthcoming. (Contribution by Vikram S. Gandhi.)View Details
Cases and Teaching Materials
  • Gandhi, Vikram, and Radhika Kak. "CPP Investments—The Road to Zero." Harvard Business School Case 324-054, February 2024. (Revised April 2024.)View Details
  • Gandhi, Vikram S., Michael Norris, and David Allen. "Generation Investment Management: Sustainable Investing in a Warming World." Harvard Business School Case 324-043, January 2024. (Revised January 2024.)View Details
  • Gandhi, Vikram S., David Allen, Sarah Mehta, and Shannon Roche. "TPG Rise Climate: Deploying 'Climate Capital'." Harvard Business School Case 824-077, January 2024. (Revised February 2024.)View Details
  • Gandhi, Vikram S., and Radhika Kak. "PortageBay and ESG Analytics." Harvard Business School Case 324-065, January 2024. (Revised January 2024.)View Details
  • Gandhi, Vikram S., and Radhika Kak. "JSW Steel: Balancing Growth While Decarbonizing." Harvard Business School Case 824-002, October 2023. (Revised May 2024.)View Details
  • Gandhi, Vikram S., and Radhika Kak. "Doing Business in New Delhi, India." Harvard Business School Case 323-083, February 2023. (Revised March 2024.)View Details
  • Gandhi, Vikram S., and James Barnett. "The Ford Motor Company Green Bond." Harvard Business School Case 823-069, January 2023.View Details
  • Gandhi, Vikram S., Christopher Diak, and Radhika Kak. "The Role of ESG in Investment Strategy." Harvard Business School Background Note 823-078, November 2022. (Revised March 2024.)View Details
  • Gandhi, Vikram S., and Zeke Gillman. "FIELD Immersion 2022: Pittsburgh, Pennsylvania." Harvard Business School Background Note 822-121, June 2022.View Details
  • Mills, Karen, Caroline Elkins, Vikram Gandhi, Gabriella Elanbeck, and Zeke Gillman. "Pittsburgh: A Successful City?" Harvard Business School Case 322-080, March 2022. (Revised April 2023.)View Details
  • Elkins, Caroline M., Tarun Khanna, Vikram S. Gandhi, Karen G. Mills, and Leonard A. Schlesinger. "A Note on Contextual Intelligence." Harvard Business School Module Note 322-077, January 2022.View Details
  • Gandhi, Vikram S., and David Lane. "TotalEnergies’ Investment in Hyzon Motors." Harvard Business School Case 822-019, January 2022. (Revised December 2022.)View Details
  • Kramer, Mark, Shawn Cole, Vikram S. Gandhi, and T. Robert Zochowski. "Engine No. 1: An Impact Investing Firm Engages with ExxonMobil." Harvard Business School Case 222-028, October 2021. (Revised May 2023.)View Details
  • Cole, Shawn A., Vikram S. Gandhi, Michael Norris, and John Masko. "Public Equities Impact Investing at BlackRock." Harvard Business School Case 221-066, April 2021. (Revised July 2021.)View Details
  • Gandhi, Vikram S. "CalSTRS Takes on Gun Violence." Harvard Business School Multimedia/Video Supplement 821-701, November 2020.View Details
  • Gandhi, Vikram S. "Blue Haven Initiative: The PEGAfrica Investment." Harvard Business School Multimedia/Video Supplement 321-701, October 2020.View Details
  • Gandhi, Vikram S., Caitlin Reimers Brumme, and Amram Migdal. "Blue Haven Initiative: The PEGAfrica Investment." Harvard Business School Teaching Plan 321-007, July 2020.View Details
  • Gandhi, Vikram S., and Sarah Mehta. "Generation Investment Management." Harvard Business School Teaching Note 820-112, June 2020.View Details
  • Gandhi, Vikram S., and Sarah Mehta. "Generation Investment Management." Harvard Business School Case 820-033, March 2020. (Revised May 2020.)View Details
  • Gandhi, Vikram S., and James Barnett. "Financial Inclusion at Omidyar Network." Harvard Business School Teaching Plan 320-018, September 2019.View Details
  • Gandhi, Vikram S. "Omidyar Network's Investment Decisions: MicroEnsure and Lenddo." Harvard Business School Multimedia/Video Supplement 320-702, July 2019.View Details
  • Gandhi, Vikram S. "Omidyar Network's Impact Investment Framework." Harvard Business School Multimedia/Video Supplement 320-701, July 2019.View Details
  • Gandhi, Vikram, and Mahima Rao-Kachroo. "Piramal Foundation: The Business of Philanthropy." Harvard Business School Case 520-011, July 2019.View Details
  • Gandhi, Vikram S., and Aldo Sesia. "Goldman Sachs: Making an Imprint in Impact Investing." Harvard Business School Teaching Plan 219-007, June 2019.View Details
  • Gandhi, Vikram S., and Nathaniel Schwalb. "THE VELUX FOUNDATIONS: Selecting Impact Funds." Harvard Business School Teaching Plan 819-113, June 2019.View Details
  • Gandhi, Vikram S., Caitlin Reimers Brumme, and Sarah Mehta. "The Rise Fund: TPG Bets Big on Impact." Harvard Business School Teaching Note 319-003, February 2019. (Revised October 2019.)View Details
  • Gandhi, Vikram S., and Caitlin Reimers. "CalSTRS Takes on Gun Violence." Harvard Business School Case 819-079, November 2018. (Revised December 2018.)View Details
  • Gandhi, Vikram S., Caitlin Lindsay Reimers Brumme, and James Barnett. "Financial Inclusion at Omidyar Network." Harvard Business School Case 318-004, January 2018. (Revised February 2020.)View Details
  • Gandhi, Vikram S., Caitlin Reimers Brumme, and Sarah Mehta. "The Rise Fund: TPG Bets Big on Impact." Harvard Business School Case 318-041, February 2018. (Revised August 2019.)View Details
  • Gandhi, Vikram, Caitlin Reimers Brumme, and Nathaniel Schwalb. "THE VELUX FOUNDATIONS: Selecting Impact Funds." Harvard Business School Case 819-021, September 2018. (Revised June 2019.)View Details
  • Cole, Shawn, Vikram S. Gandhi, Caitlin Reimers Brumme, and Lynn Schenk. "Goldman Sachs: Making an Imprint in Impact Investing." Harvard Business School Case 218-069, April 2018. (Revised May 2018.)View Details
  • Gandhi, Vikram S., and Lynn Schenk. "Morgan Stanley: Building Long-Term Sustainability." Harvard Business School Case 318-103, March 2018. (Revised April 2018.)View Details
  • Cole, Shawn, Vikram Gandhi, and Caitlin Reimers Brumme. "Background Note: Examining the Case for Sustainable Investing." Harvard Business School Background Note 218-083, March 2018. (Revised June 2022.)View Details
  • Gandhi, Vikram S., and Aldo Sesia. "Environmental Technology Fund Partners and E-Leather." Harvard Business School Spreadsheet Supplement 318-702, March 2018.View Details
  • Gandhi, Vikram S., Caitlin Reimers, and Amram Migdal. "Blue Haven Initiative: The PEGAfrica Investment." Harvard Business School Spreadsheet Supplement 318-705, March 2018. (Revised March 2018.)View Details
  • Cole, Shawn, Vikram Gandhi, Caitlin Reimers, and Yannick Saleman. "Microfinance in India 2010-2016: Crisis and Recovery." Harvard Business School Supplement 217-070, March 2017.View Details
  • Gandhi, Vikram S., Caitlin Reimers Brumme, and Amram Migdal. "Blue Haven Initiative: The PEGAfrica Investment." Harvard Business School Case 318-003, February 2018. (Revised August 2018.)View Details
  • Gandhi, Vikram S., and Aldo Sesia. "Environmental Technology Fund Partners and E-Leather." Harvard Business School Case 318-001, January 2018.View Details
  • Cole, Shawn, Vikram Gandhi, Caitlin Reimers Brumme, and Mona Rahmani. "Background Note: Introduction to Sustainable Investing." Harvard Business School Background Note 218-072, January 2018. (Revised February 2022.)View Details
  • Gandhi, Vikram, and Lynn Schenk. "State Street—The Development and Growth of SHE." Harvard Business School Teaching Note 318-076, November 2017.View Details
  • Gandhi, Vikram. "State Street—The Development and Growth of SHE." Harvard Business School Case 317-040, September 2016. (Revised August 2018.)View Details
  • Gandhi, Vikram S., and Tony L. He. "Pi Investments." Harvard Business School Case 317-039, September 2016. (Revised August 2018.)View Details

Winner of the 2021 Teaching Recognition Award for Excellence in Sustainable Finance Education from the Financial Times and the Impact and Sustainable Finance Faculty Consortium for the course, "Investing for Risk, Return, and Impact," developed with Shawn Cole.

Additional Information
Areas of Interest
  • capital markets
  • entrepreneurial finance
  • environment
  • investment management
  • sustainable and impact investing
  • Additional Topics

  • business and poverty
  • social entrepreneurship
  • Industries

  • financial services
  • Geographies

  • India
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