From Bedroom Coder to Building Businesses Across Asia
From bootstrapping a 40+ person digital marketing agency to launching AI-powered ad networks and investing in 30+ startups across Asia.
Work With Me
The Journey
In 2012, I co-founded 2Stallions with a simple belief: businesses in Asia needed more than campaigns, they needed marketing that actually drove growth.
What started as two co-founders hustling — finding projects by day, building websites and launching campaigns through the night — has become an award-winning, remote-first agency with a 40+ person team across Singapore, Malaysia, Indonesia, and India. We've worked with RedBull, Raffles Hotel, Epson, Dulux, Sompo, Nissin Cup Noodles and hundreds of ambitious SMEs — turning marketing into measurable revenue.
But services weren't enough. I wanted to create platforms that could shape markets.
That's why I launched ChutneyAds — Bangladesh's first AI-powered digital out-of-home network. We're scaling from 200 to 1,000+ screens, with the goal of delivering 1 billion monthly impressions in a market the global ad industry overlooked.
Investing in founders isn't about capital — it's about being in the trenches.
I've invested in 30+ startups solving real problems across Asia, through direct angel investing and via CG Ventures. Several I've gone deeper with — advising on growth, GTM, and operations — because the most valuable thing I can offer isn't a cheque, it's showing up when things get hard.
The hardest conversations about AI aren't happening in engineering. They're happening in boardrooms.
I build AI agents that take real actions, and I kept hitting the same gap: boards are asked to approve AI they have no framework for governing. So I went and earned the other half of the qualification. In May 2026 I graduated from the SID Board Readiness Programme and passed the SID Accreditation Examination to become an SID Accredited Director (Credential ID 182005282). Building the technology is one thing. Being accountable for it to the standard directors are actually held to is another. I'm open to board appointments where that combination is useful, and it's why I run customised board and C-suite AI training for the people carrying that accountability.
Always Learning, Always Growing
If there's one thread through my career, it's this: I've never stood still.
Each step stretched me beyond my comfort zone — the same mindset I bring to every founder and team I work with.
Selected for NUS Overseas College — Silicon Valley, studying entrepreneurship where it happens.
Chosen for the Google Elevator program to accelerate agency growth.
Completed my Quantic EMBA to sharpen strategic thinking.
Graduated from the SID Board Readiness Programme (2025-26) and passed the SID Accreditation Examination, becoming an SID Accredited Director in May 2026.
What Drives Me
If I had to put it simply: I believe in doing the work.
Hands-on leadership
I've scaled teams, managed P&Ls, grown revenue, and lived through the same challenges I now help others navigate. Early on at 2Stallions, I hired someone at a higher salary than I paid myself — because I knew freeing myself up to focus on growth would move the company forward faster than saving on payroll.
Extroverted introvert
Speaking and training didn't come naturally. I pushed myself into it because sharing knowledge creates more impact than keeping it to myself.
Culture over comfort
In 2016, I discovered a remote team had turned toxic — senior members were undermining company culture and poisoning junior staff against our Singapore team. I let the entire team go, knowing it would delay client projects. Protecting the culture we were building mattered more than short-term convenience. The company came out stronger for it.
Curiosity for what's next
From AI automation to new business models, I'm drawn to whatever helps businesses work smarter — and I test everything on my own companies first.
Recognition
My work has been featured in BFM89.9, Business News, The Exchange Asia, Business Today, New Straits Times, CNA938, MoneyFM 89.3, New In Asia, Prothom Alo, The Daily Star, and more.
I've spoken on global stages as Chairperson of Programmatic Pioneers Summit Asia, moderated panels at eTail Asia (2024 & 2025), delivered growth marketing sessions at the Llama Incubator, and been featured in Marketing Magazine.
I've trained ASEAN government ministries on digital transformation and delivered corporate sessions for Sony, Toyota, DHL, Fuji Xerox, Interpol, and MCYS.
Frequently Asked Questions
Who is Dhawal Shah?
Dhawal Shah is a Singapore-based growth operator, founder and Regional MD of 2Stallions (a 40+ person digital marketing agency), CEO of ChutneyAds (Bangladesh's first AI-powered DOOH network), and startup investor who has backed 30+ startups across Southeast Asia and South Asia. He is an SID Accredited Director, having graduated from the Singapore Institute of Directors Board Readiness Programme and passed the SID Accreditation Examination in May 2026. He is also Co-Chair of AmCham Singapore's Marketing & Communications Committee.
What industries does Dhawal Shah work in?
Dhawal Shah operates across digital marketing (through 2Stallions), AI-powered digital out-of-home advertising (through ChutneyAds), AI tools and automation, startup investing and advisory (through CG Ventures), and corporate training. His clients and portfolio companies span technology, consumer goods, hospitality, financial services, and government.
What is Dhawal Shah's investment thesis?
Dhawal Shah takes an operator-first approach to angel investing, backing founders solving real problems in underserved Asian markets. He invests where he can add hands-on value — in growth strategy, go-to-market execution, marketing, and operations — through direct investments and via CG Ventures. His portfolio includes 30+ startups across Southeast Asia and South Asia.
Where has Dhawal Shah spoken?
Dhawal Shah has chaired the Programmatic Pioneers Summit Asia, spoken and moderated panels at eTail Asia (2024 and 2025), and delivered growth marketing sessions at the Llama Incubator. He has trained ASEAN government ministries on digital transformation and run corporate sessions for Sony, Toyota, DHL, Fuji Xerox, Interpol, and MCYS.