Overview
Tushar Shah has over a decade of experience delivering complex valuation solutions for public and private companies. He specializes in fair value measurements for financial reporting, tax compliance, strategic transactions, and litigation support, with deep technical knowledge across U.S. GAAP and fair value standards, including ASC 805, ASC 718, ASC 350, 409A and ASC 820.
Tushar has advised a diverse range of clients — from early-stage, venture-backed startups to private equity portfolio companies and large public enterprises — across the technology, healthcare, life sciences, manufacturing, and professional services industries. He has significant experience supporting transaction-related analyses, including purchase price allocations, rollover equity, and complex equity instruments, and has worked closely with private equity firms to deliver recurring portfolio company valuations. He is known for his ability to navigate highly complex capital structures, intangible asset valuations, and regulatory requirements with precision and efficiency.
Experience
Tushar has led and reviewed hundreds of valuation engagements involving:
- Public and private company equity valuations, including common and preferred stock (minority, control, and joint venture interests)
- 409A valuations for venture- and PE-backed companies across diverse capital structures
- Purchase price allocations (ASC 805), including intangible assets such as developed technology, trade names, customer relationships, IPR&D, and non-competes
- Complex instruments, including convertible notes, warrants, SAFEs, and token-based assets
- ESOP valuations, including annual updates, transaction pricing, and fairness opinions
- Rollover equity and transaction-related valuations for private equity and M&A activity
- Portfolio company valuations to support quarterly and annual fair value reporting for fund managers and their auditors
In addition to his core valuation responsibilities, Tushar regularly supports Aprio’s assurance and tax practices by reviewing third-party valuation reports, identifying red flags, and advising on defensible, compliant valuation approaches.
Education & Affiliations
- CFA® Charterholder
- MBA, Finance – Monash University (Melbourne, Australia)
- Bachelor of Commerce (Accounting) – University of Mumbai, India
Insights
