This fellowship honours Nels Radley Friets — his enduring contributions to capital markets, and his tireless encouragement of young minds seeking to make their mark in finance and entrepreneurship, and his lasting legacy to Smartkarma.

Nels was not only a visionary in business, but also a prolific poet and faithful believer that laughter was the best medicine. This award reflects the full breadth of his character—sharp intellect, creative spirit, and the joy he brought into every room.

Nels retired from Singapore Exchange Limited, where he was Head of Securities and then an Advisor. He was formerly the Managing Director & Head of Equities (ASEAN) with Citigroup Global Markets, where he had responsibilities for all cash, derivatives, equity capital markets and prime brokerage activities in the ASEAN countries. Nels was earlier with CLSA, where his last role was Managing Director, Singapore/Malaysia. Prior to CLSA, he spent 11 years as a strategy consultant.Nels was on the Investment Committees for various entities including the Smartkarma Board, Singapore Tote Board, SUTD Venture Fund, and Bulldog Innovation Fund. He sat on the board of Fullerton Fund Management, where he chaired the Audit and Risk Committee for ten years. In addition to working with several startups, he was on the SUTD Finance Committee and advised Calm Collective Asia, a social enterprise focused on mental health awareness.Nels held a Bachelor of Science degree in Applied Mathematics from Yale University, USA.

Hrishiraj Mandal
National University of Singapore
Bachelor of Computing (Computer Science), Year 3I am a Computer Science student with an interest in finance, technology and inclusion. I am driven by the belief that scalable systems can unlock access and opportunity where it is needed most. I bring a builder’s mindset honed through diverse experiences such as developing platforms in fast-paced corporate settings, mentoring peers as a teaching advisor and shipping product-ready solutions in high-stakes competitions.My goal is to work at the intersection of fintech and entrepreneurship by designing tools that democratize access to capital, credit, and information. The Smartkarma Fellowship supports this mission by offering both recognition and a platform to continue exploring hard questions, synthesizing insights and contributing thoughtfully to the future of inclusive financial innovation.Beyond an accolade, this Fellowship is an invitation to sharpen my thinking and expand my impact. I plan to use the Smartkarma Research Platform to deepen my understanding of markets, extract evidence-based insights, and explore how structured knowledge can drive better decision-making across financial ecosystems.

Mukund Kaverirangan
National University of Singapore
Bachelor of Engineering (Industrial & Systems), Year 4I’m an Industrial & Systems Engineering student with a Minor in Economics at NUS. I love turning messy data into clear actions. Last summer at DBS, we built AI solutions that improved operational efficiency. This year, I joined the tech team at Skillsvest, an SF-based startup. We’re building an ontology model to power “Your Dream University,” a fully funded pathway for students to attend top schools without barriers.My goal is to become a consultant in finance, helping firms make smarter, data-backed decisions. The Nels Radley Friets Fellowship is a dream come true. Nels was a visionary leader and poet who believed in curiosity, creativity, and a good laugh. His legacy inspires me to dig deeper and stay humble.With the Smartkarma Research Platform, I’ll dive into millions of documents, real-time analyst insights, and proprietary datasets—all in one place. I plan to test investment ideas, pull out actionable insights, and chat directly with top analysts. This fellowship and the platform together will sharpen my research skills and help me deliver real impact—just like Nels did.Thank you.