STG Labs leadership brings a combined 100 years of experience in technology, offshoring, near-shoring, process re-engineering, and change management.
The STG Labs and STG leadership teams works closely to leverage decades of entrepreneurial expertise helping companies reach their full potential.
Marc Bala
Managing Director
Marc Bala
Managing Director
Marc Bala is a Managing Director with STG, where he has helped lead and manage STG’s investments in Capco (sold to FIS), Consilio (sold to Shamrock), CoreOne Technologies (sold to Markit), Fishbowl, First Advantage (sold to Silver Lake Partners), Skyhigh Security and Trellix (from the combination of McAfee Enterprise and FireEye), Nomis, and Symphony Talent.
Marc joined Symphony in 2006 from Capco, a provider of consulting services to the financial services industry. Before joining Capco, Marc was a Senior Associate at a boutique merchant bank where he advised and invested in enterprise software and technology services companies.
Marc started his career in the corporate finance practice at Farrell Grant Sparks, an Ireland-based accounting and consulting firm focused on the technology industry.
Marc received his Bachelors from Boston College and his Masters from University College Dublin. Marc is currently a member of the board of directors of Fishbowl, Nomis, Skyhigh Security, and Trellix.
Subrahmanya Bhat
Vice President, Finance and Operations, STG Labs
Subrahmanya Bhat
Vice President, Finance and Operations, STG Labs
Subbu joined STG in early 2019 and has been responsible for the day-to-day operations and administration of STG Labs to assist and enable STG portfolio companies in their offshoring transformation activities. He is also on the Board of the India entities of STG’s portfolio companies in an oversight and governance role to ensure compliance with all local regulatory requirements.
Subbu brings over 18 years of diverse experience in the field of finance, accounting, operations, and compliance. He is a keen analyst with excellent relationship management skills. He joined STG from Oracle Financial Software Services where he spent nearly six years in finance, business planning, and operations, reporting to the COO of the company.
Prior to Oracle, Subbu was with Symphony Marketing Solutions (a Symphony company acquired by Genpact) for more than six years where he was part of the finance, accounting, and compliance functions. Subbu expanded his responsibilities at Genpact as the FP&A lead and finance integration specialist for acquisitions like Empower Research and Atyati Technologies. Prior to Symphony Marketing Solutions, Subbu had more than five years of experience in the areas of finance and accounts of various IT/ITES companies including Sterling Commerce, Torry Harris, and Mindteck India Limited.
Subbu is a Chartered Management Accountant from CIMA London, UK, and also holds an MBA degree with specialization in Finance.
Kelly Carlson
Managing Director, Head of Talent
Kelly Carlson
Managing Director, Head of Talent
Kelly Carlson is Managing Director, Head of Talent with STG, where she is leading the firm’s talent efforts, working across the portfolio to attract CEOs and executive leadership teams to drive results. Kelly’s mandate includes the curation of a CEO and senior leaders network aligned with the firm’s investment priorities. Driving innovations of assessment and human capital best practices to the portfolio companies are key tenants of STG’s talent strategy.
Kelly joined STG in 2019 from TillmanCarlson, a retained executive search boutique, recruiting CEOs, CFOs, CTOs and GTM leaders, where she served as one of the co-founders of the firm before being appointed President & CEO. Prior to launching her firm in 2003, Kelly spent eight years at Russell Reynolds Associates as one of the early members of the firm’s technology practice, working predominantly in software and services. Kelly started her career with AT&T and MCI in sales and account management.
Kelly received her Bachelors from Benedictine University and her Masters from DePaul University.
William Chisholm
Managing Partner
William Chisholm
Managing Partner
Bill Chisholm is a co-founder of STG and serves as the firm’s Managing Partner and Chief Investment Officer. At STG, Bill leads the firm’s investment activities and assumes a hands-on approach in the day-to-day management of STG companies. From strategic discussions to mining innovation opportunities, Bill acts as a sounding board on a variety of issues.
Bill has led many STG investments, including AFS Technologies (sold to Telus), Aldata (now SymphonyEYC), Cadmium, CAI Software, Capco (sold to FIS), CoreOne (sold to Markit), Dodge Construction Data, eProductivity Software, First Advantage (sold to Silver Lake Partners), IMI (merged with CDC Corp.), Intentia (merged with Lawson Software), GERS (sold to Ecometry/GGC), IRi (sold to New Mountain), JobRapido, Skyhigh Security and Trellix (from the combination of McAfee Enterprise and FireEye), MSC Software (sold to Hexagon), RSA, Symphony Services (merged with Teleca to become Symphony Teleca, sold to Harman), Symphony Talent, Symphony Marketing Solutions (sold to Genpact), Trace One, Ventiv (sold to Tailwind Capital), and Winshuttle (sold to Precisely).
Prior to co-founding STG, Bill co-founded The Valent Group and also worked at Bain & Company and PaineWebber, Inc.
Bill graduated from Dartmouth College with a Bachelor of Arts degree and from The Wharton School with an MBA with Distinction. He currently sits on the board of directors for Cadmium, CAI Software, Dodge, eProductivity Software, Jobrapido, RSA, Skyhigh Security, Symphony Talent, Trace One, and Trellix.
Samir Duggal
Senior Vice President, Business Operations, STG Labs
Samir Duggal
Senior Vice President, Business Operations, STG Labs
Samir Duggal is the Senior Vice President, Business Operations, STG Labs.
Samir brings more than 27 years of experience in product management, product engineering, operations, and onshore/offshore transformation initiatives.
Samir has spent 10 years in the STG family (2006-2016) with Symphony Teleca in a variety of roles managing delivery and innovation capabilities for product engineering, dev ops, QA automation, cloud based SaaS software delivery, data security and compliance. While at Symphony Teleca, he managed the teams for several of the STG portfolio companies including Maincare, Symphony Talent, Ventiv and First Advantage. Before joining Symphony Teleca, Samir worked with i2 Technologies at Dallas and MetricStream in Bangalore.
Samir has had two entrepreneurial stints: the first time as a co-founder of a smart store retail company ‘KWIK24’, which was acquired by Big Basket (India’s largest on-line grocery store) within two years of being founded, and the second time to help the founder scale a SaaS talent lifecycle management solution company ‘My Ally.AI’ which was recently acquired by Phenom, an AI powered talent management company.
Samir comes with functional expertise on human talent lifecycle management and AI, supply chain management, consumer facing B2C businesses and retail. He has also set-up and run global teams in India, Russia, and Morocco, and incubated joint ventures in China.
At STG, Samir will help portfolio companies jump start their teams in India and manage the day-to-day operations of these teams until the portfolio companies set-up their own subsidiaries/captives and hire local India-based leadership to run their own teams.
Samir holds a bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, New Delhi, and an Executive General Management degree from Indian Institute of Management, Bangalore.
Marshall Haines
Managing Director
Marshall Haines
Managing Director
Marshall Haines is a Managing Director with STG with extensive operating, strategy and investing experience focused on sourcing and executing investments. Marshall has led STG’s investments in Maincare (acquired by Montagu), quCare (acquired by Nexus), and System C (acquired by CVC). Marshall joined STG from Williston Financial Group, where he was Chief Operating Officer.
Marshall also spent five years with TPG Capital’s San Francisco office, where he was a Principal. During this period, he led deals in the areas of financial and technology-enabled services. Prior to his position with TPG Capital, Marshall was a Principal with Bain Capital in both Boston and San Francisco. During his 10 years with Bain, he worked on deals in multiple market sectors including technology, healthcare, and distribution.
Marshall has an MBA degree from the Harvard Graduate School of Business administration and a Bachelor of Science degree in Business Administration from the University of California, Berkeley.
Stephen Henkenmeier
Managing Director & Chief Financial Officer
Stephen Henkenmeier
Managing Director & Chief Financial Officer
As STG’s Chief Financial Officer, Steve Henkenmeier is responsible for the firm’s finance, technology, legal, human resources, compliance and administrative functions.
Steve assists with STG’s deal structuring, portfolio management and driving transformational initiatives within the portfolio. Prior to joining STG, Steve held chief financial officer and senior finance, strategy and business development roles at several software and professional services companies including ClickSquared, Pri-Med, Mainspring, IBM and Novell.
His expertise includes public and private debt and equity financings, deal sourcing and diligence, corporate strategy and transformations, pricing optimization, systems implementations and compensation programs. Steve got his start as a certified public accountant and senior manager in the technology practice of PricewaterhouseCoopers.
Steve graduated from The Wharton School at the University of Pennsylvania with a Bachelor of Science degree and from the Stanford Graduate School of Business with an MBA where he was named an Arjay Miller scholar. Steve currently serves on the board of directors of Alveo, CAI Software, Jobrapido, Onclusive, Quor, Sciforma, Symphony Talent, and Trace One.
Vaishali Hotpeti
STG Labs Human Resources Business Partner
Vaishali Hotpeti
STG Labs Human Resources Business Partner
Vaishali S Hotpeti is the HR Business Partner for STG Labs. Vaishali is responsible for managing our Employee Lifecycle from Onboarding to Exit Formalities, Payroll, HR-Operations, Recruitment, and Employee Engagement.
Prior to joining STG Labs, Vaishali worked with Tata Teleservices for 7+ years in various roles including Customer Care, Learning and Development, Retail Sales and Services, and as an HR Generalist. She took a sabbatical to raise her two children and during the same time, she started a small Garment Business unit for generating employment for women and worked as a freelance trainer to educate women on financial empowerment.
Vaishali holds a bachelor’s degree in Business Administration from KLE College of Business Administration, Hubli, Karnataka.
Rushi Kulkarni
Managing Director
Rushi Kulkarni
Managing Director
Rushi Kulkarni is a Managing Director with STG, where he has helped lead and manage STG’s investments in AFS (sold to Telus), Cadmium, CaseWorthy, RSA and Trace One. Rushi co-leads STG’s Allegro strategy focused on lower middle market investments in the enterprise software and software-enabled technology services sectors.
Rushi joined STG in 2018 from Jefferies. Prior to STG, Rushi spent over ten years in investment banking advising software companies, private equity, and venture capital clients on a variety of transactions, including M&A, debt and equity financings, and public equity offerings. During his tenure on Wall Street, he has completed more than 65 transactions aggregating over $45 billion in total deal value.
Rushi has an MBA from the Simon School of Business at the University of Rochester and a B.E. in Computer Science from Pune University, India. Rushi currently serves on the board of directors of Cadmium, RSA, Trace One and CaseWorthy.
Stefano Malnati
Operating Executive - Technology*
Stefano Malnati
Operating Executive - Technology*
As Operating Executive in STG’s Operations Group since April 2017, Stefano Malnati works alongside the STG deal teams in conducting buy/sell side product and technology due diligence and helps STG portfolio companies in their business transformation initiatives to realize investment objectives. He brings over 30 years of diverse software product development experience, a variety of technology, SaaS, product innovation, security and operations experience, and extensive hands-on knowledge around operating globally distributed captive and outsourced teams in several geographies (US, India, Eastern Europe, South America).
Stefano joined STG’s Operations Group after spending four years at one of STG’s portfolio companies, First Advantage, where he served as the Chief Innovation and Technology Officer. In this role, he leveraged his extensive background in managing the development of web-based enterprise applications to drive continuous innovation and improvement of First Advantage’s technology solutions. Stefano joined First Advantage during a time of significant growth and expansion, leading two acquisitions, driving platform rationalization, offshoring, implementing CRM and ERP, managing continuous product development and launching new innovative products/solutions.
*Operating Executives are independent contractors that are advisors to STG and STG portfolio companies and are not employees or affiliates of STG.
Mahinder Mathrani
Operating Partner
Mahinder Mathrani
Operating Partner
As operating partner since October 2011, Mahinder Mathrani helps portfolio companies in their business transformation efforts to significantly enhance customer and shareholder value. He brings over 40 years of diverse global general management, customer facing and operations experience.
Mahinder returned to the STG family from Genpact in 2011, where he spent twenty months successfully integrating the acquisition of Symphony Marketing Solutions, formerly an STG portfolio company, leveraging a global delivery model for data management and analytics to deliver market and customer insights to global marketing services companies.
Prior to Genpact, he was President and COO of Symphony Marketing Solutions (2007 to 2010), where he was instrumental in launching, building, and operating the company before its acquisition by Genpact. Prior to Symphony Marketing Solutions, Mahinder spent over fifteen years with IRi, an exited STG investment sold to New Mountain, where he held a variety of senior level roles in client services, sales and marketing, technology consulting, and operations.
Before joining IRi, Mahinder had more than a decade of diverse international business experience in a variety of research, analytic, and product management positions at companies like Citicorp, the Arbitron Company, and the Firestone Tire and Rubber Company.
Mahinder holds a Bachelor’s degree in Chemical Engineering from the Indian Institute of Technology, New Delhi, and an MBA with specialization in Finance and Operations Research from the University of Michigan in Ann Arbor, Michigan.
Sunit Mukherjee
Managing Director
Sunit Mukherjee
Managing Director
Sunit is a Managing Director with STG. Sunit has led STG’s investment in Erecruit (acquired by Bullhorn) and Sciforma, and he helped lead and manage STG’s investments in Symphony Talent, Jobrapido, Symphony Health Solutions (sold to PRA Health Sciences), and Ventiv (sold to Tailwind Capital).
Prior to STG, Sunit most recently worked as an investment professional at a San Francisco based, mid-market private equity firm, Champlain Capital Partners, where he focused on business services, asset light manufacturing and consumer products. Sunit worked on acquisitions of and strategic/financial initiatives with several portfolio companies including B27 LLC, Freeman Beauty and Bergensons Property Services.
Prior to business school, Sunit worked at Deloitte Consulting as a Senior Consultant where he focused on business development initiatives and advising clients in industries such as healthcare, software/hi-tech, financial services/insurance and manufacturing on IT strategy and operational improvements especially in the area of pricing strategy and optimization. He also worked at Citigroup Investment Banking in New York and ILFS Growth Equity in Mumbai, India.
Sunit has an MBA from Harvard Business School, a MS degree in Materials Science and Engineering from Georgia Institute of Technology in Atlanta and Bachelor’s degree in Materials Science and Engineering from Indian Institute of Technology, Bombay. At Georgia Tech, Sunit’s MS thesis on designing materials in zero gravity situations using 3D computational modeling was sponsored by NASA and National Science Foundation (NSF). Sunit currently serves on the board of directors of Jobrapido and Sciforma.
Swami Rao
Vice President, Technology, STG Labs
Swami Rao
Vice President, Technology, STG Labs
Swami brings over 20+ years of experience in diverse fields of Information Technology. He has extensive experience in Product Development for Enterprise Applications, Infrastructure Management, SaaS Solutions, and Information Security, with extensive hands-on experience operating in globally distributed teams across the US and India, and in incubating and running successful offshore teams.
Most recently, Swami worked at First Advantage, formerly an STG portfolio company, where he served as Vice President for Architecture, Infrastructure Operations, and Development and also lead the First Advantage offshore IT center in Bangalore. In this role, he used his expertise in managing and building enterprise-grade web and mobile applications with a focus on research and development, platform consolidation, and migrations. Swami’s experience includes CRM and ERP solutions, consolidation of data centers, business continuity planning, and migration of applications to the cloud.
Swami also spent time with Symphony Teleca (another former STG portfolio company) in various technical and technology leadership roles. Prior to First Advantage and Symphony Teleca, Swami was with the First American family of companies delivering SaaS applications and building software solutions.
Swami has an MBA with specialization in Information Systems and certification in Finance from PSG College of Technology, India, and various other certifications in Information Technology.
J.T. Treadwell
Director
J.T. Treadwell
Director
J.T. Treadwell has led a variety of STG investments in health care, retail analytics, and marketing services, including AlphaImpactRx (sold to IMS Health/IQVIA), Celtra, Connexity (sold to Taboola.com), Extenda Retail, Evidera (sold to PPD), Escalent, Onclusive, RedSeal, Simmons Research (now MRI Simmons), SPH Analytics (sold to Press Ganey and Azara Healthcare), SurveyMonkey, Symphony Health Solutions (sold to PRA Health Sciences), and Teleca (merged with Symphony Services to become Symphony Teleca, sold to Harman), as well as helping lead investments in GERS Retail Systems (sold to RedPrairie), Intentia (acquired by Lawson), IRI (sold to New Mountain Capital), MSC (sold to Hexagon), and Symphony Marketing Solutions (sold to Genpact), prior to becoming Managing Director.
Before joining STG in 2003, J.T. was the Director of Marketing and Strategic Planning at Qiva, a global logistics software firm. Before Qiva, J.T. worked at Bessemer Venture Partners as an associate, where he helped create investments in companies including Worldchain, Nistevo and Trigo Technologies (acquired by IBM) J.T. also served as a consultant at The Boston Consulting Group, where he helped lead numerous strategic marketing and business development deals for clients in the technology, consumer goods and finance sectors.
J.T. holds dual Bachelor of Arts degrees in ethics, politics and economics and history from Yale University. He currently serves on the board of directors for Azara Healthcare, Celtra, Escalent, Extenda Retail, Onclusive, RedSeal, and SurveyMonkey.
Hareesh Shastry
Director - Program Management
Hareesh Shastry
Director - Program Management
Hareesh joined STG Labs as a Director – Program Management
Hareesh brings more than 20 years of experience in delivery leadership of B2B product/platform, product engineering, program management, delivery process transformation, and agile methodologies.
Hareesh spent 10 years in the STG family (2007-2017) at Symphony Teleca as a Global Operating Center (GOC) Manager, managing end-to-end delivery and operations for multiple engagements in the retail domain. He set up multiple product engineering offshore teams, enabled effective knowledge transfer and managed day to day deliverables. He believes in a culture of trust, empowerment, collaboration, and continuous improvement within the team and across all stakeholders.
Hareesh holds a bachelor’s degree in Instrumentation Technology from University BDT College of Engineering, Karnataka.
About STG
STG was founded in 2002 as Symphony Technology Group, LLC, with the singular mission of building outstanding companies in the mid-market enterprise software and software-enabled technology services sector.
In 2017, the leadership team rebranded the firm as STG signaling a renewed commitment to its mission and seeking to continue the value-oriented investment strategy employed by the Managing Directors at Symphony. STG’s portfolio has consisted of more than 50 global companies and currently has $10 billion of assets under management (as of March 2023). STG believes that its competitive advantages stem from a combination of capabilities developed from years of focus and experience.