Anup Agarwal

The Marlin & Associates team is comprised of a group of seasoned professionals who have an unrelenting commitment to maximize value for our clients. Collectively, our team has advised on financial technology, data and analytics transactions in 27 countries around the world. Several M&A partners have held global C-level and senior operating roles in relevant industry sectors. This deep operating experience combined with extensive transaction expertise enables Marlin & Associates to provide an unparalleled level of strategic and financial advice to our clients as well as execution capability in nearly every conceivable situation. 

On June 14, 2021 we agreed to combine with the technology investment banking team at D.A. Davidson. Our combined technology investment banking group will have more than 60 professionals across North America plus a strategic transatlantic partnership with MCF Corporate Finance (60 investment banking professionals in London, Stockholm, Hamburg, and Helsinki). 

  • Our Group will cover eight tech sectors: Application Software, Infrastructure Software, Vertical Software, Communications Software/Hardware, Internet and Digital Media, Technology-Enabled Services, Data and Analytics, and Financial Technology. Within Financial Technology, we will continue covering clients across WealthTech, Payments Tech, InsurTech, BankTech, Real Estate Tech, LegalTech, GRC, Business Intelligence, Market Intelligence, Capital Markets Technology, and Digital Tech including Workflow Automation; 
  • We’ll work closely with D.A. Davidson’s 12 technology research professionals covering more than 130 technology stocks, and a dedicated equity sales and trading team


We expect the transaction to close in Q3 2021. 

 You can read more about the transaction HERE.


Anup Agarwal is a Senior Managing Director at Marlin & Associates, where he is primarily responsible for transaction origination and execution in sectors such as business intelligence, data analytics, enterprise software, and technology-enabled services. Anup has more than 18 years of investment banking experience advising middle market companies both in the US and in international markets.

Anup has advised both public and growth-oriented private companies on a number of strategic and financial transactions, including buy-side and sell-side M&A, private capital raising, IPOs, leveraged buyouts, divestitures and recapitalizations.

Before joining Marlin, Anup worked at a middle market investment banking firm and completed transactions both in technology and healthcare sectors. Previously, Anup worked in Lehman Brothers’ investment banking division where he evaluated and executed numerous M&A advisory and capital raising assignments for private equity and corporate clients. Anup also worked at Bear Stearns in New York in their investment banking division, as well as with the IL&FS Group in India. Early in his career, he was a critical member of a team responsible for building a new technology driven financial services venture.

Anup received MS in Economics and BS in Engineering from BITS, Pilani, India and his MBA from the Darden School of Business at University of Virginia, where he was a Tayloe Murphy Scholar. Anup is a registered securities principal and holds series 7, 63, and 79 licenses.

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