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InCred plans insurance, mutual fund arms as it seeks to diversify offerings

Livemint

Livemint · 9m ago

InCred plans insurance, mutual fund arms as it seeks to diversify offerings

Bhupinder Singh-led InCred Group is in talks to establish a general insurance joint venture and launch a mutual fund house. The company aims to become a diversified financial services provider across various segments. The mutual fund offering will be "quant-driven" and use only quantitative techniques without active management. The insurance venture will focus on health and motor insurance. InCred has identified an overseas partner for the joint venture, with the foreign entity expected to own around 24% of the business. The mutual fund will fall under InCred Money, which already has 250,000 customers and 20,000 daily users.

Related News

InCred marks first close of maiden PE fund

VCCircle

VCCircle · 1y ago

InCred marks first close of maiden PE fund

InCred Alternatives Investment, a subsidiary of InCred Group, has achieved the first close of its debut private equity fund. Named InCred Growth Partners Fund-I, the fund aims to raise approximately Rs 500 crore and diversify its portfolio. This marks an important milestone for the firm as it expands its investment strategy beyond its existing offerings.

Ex Paytm Money CEO Pravin Jadhav’s Dhan launches mutual fund distribution service

Money Control

Money Control · 1y ago

Ex Paytm Money CEO Pravin Jadhav’s Dhan launches mutual fund distribution service

Dhan, a stock trading and investment platform founded by former Paytm Money CEO Pravin Jadhav, has introduced mutual fund investments on its platform to diversify its offerings and attract long-term investors. Dhan aims to provide an execution-only service for its half a million users to invest in zero-commission direct plans of mutual funds. Currently having 300,000 active users, Dhan has already received interest from around 10% of its user base for its mutual fund investment product. The company plans to expand its product line to include lending against mutual funds in the future.

Nithin Kamath’s AMC Zerodha Fund House launches maiden funds

Economic Times

Economic Times · 1y ago

Nithin Kamath’s AMC Zerodha Fund House launches maiden funds

Zerodha, the financial services company founded by Nithin Kamath, has launched its maiden funds as its asset management company (AMC) enters the mutual fund space. The move aims to cater to the growing demand for asset management and diversify Zerodha's offerings. The new funds include a multicap fund and a large-cap fund. Zerodha aims to challenge established players in the mutual fund industry with its low-cost and user-friendly approach.

InCred’s maiden PE fund set to bet on logistics company

VCCircle

VCCircle · 7m ago

InCred’s maiden PE fund set to bet on logistics company

InCred Alternative Investments, part of the financial services group InCred, is preparing to invest in a logistics and delivery startup through its inaugural private equity fund. This move follows two consumer-focused investments and backing of a company in the insurance sector. The firm aims to diversify its portfolio by tapping into the logistics domain, which is witnessing a surge due to the digital economy's growth. Details about the specific startup were not disclosed.

InCred plans second PE fund of up to ₹1,500 crore, eyes bigger cheques

Livemint

Livemint · 2m ago

InCred plans second PE fund of up to ₹1,500 crore, eyes bigger cheques

InCred Alternative Investments plans to launch its second private equity fund, targeting ₹1,000-1,500 crore, following a successful first fund of ₹575 crore. The firm aims to increase its average ticket size to ₹140-150 crore across 7-8 companies, up from the previous ₹75-85 crore. InCred seeks to engage more institutional investors during the next fundraising round, expected to start in the coming quarter, subject to market conditions.

Empowering Bharat Through SIPs: What to Expect at the Moneycontrol Mutual Fund Summit 2024

Money Control

Money Control · 1y ago

Empowering Bharat Through SIPs: What to Expect at the Moneycontrol Mutual Fund Summit 2024

The Moneycontrol Mutual Funds Summit 2024, themed "Empowering Bharat through SIPs," is set to take place on August 21, 2024. The summit will explore the impact of systematic investment plans (SIPs) and mutual funds on financial inclusivity, as well as recognize the efforts of mutual fund distributors. Industry experts will discuss aligning mutual fund offerings with investor expectations, expanding the distribution network, managing investment flows, and the broader economic and political impacts on the mutual fund sector. The event will also feature an awards ceremony and be available to watch live.

Turtlemint emerges from its shell seeking opportunities beyond insurance; bulks up for acquisitions

Livemint

Livemint · 12m ago

Turtlemint emerges from its shell seeking opportunities beyond insurance; bulks up for acquisitions

Invictus Insurance Broking Services, the parent company of Turtlemint Insurance Services, is diversifying its revenue streams by venturing into adjacent financial services and exploring acquisitions. The company aims to expand its offerings beyond core insurance through its insurtech platform. It plans to enter new geographies, such as South-East Asia, through acquisitions and is actively seeking opportunities. Turtlemint has maintained profitability and is now focusing on building adjacencies, including mutual funds, loans, and enterprise services. Invictus aims to provide comprehensive financial solutions and achieve profitability in each of its emerging businesses within 2-3 years.

InCred’s maiden PE fund backs BFSI firm after making two consumer bets

VCCircle

VCCircle · 9m ago

InCred’s maiden PE fund backs BFSI firm after making two consumer bets

InCred Alternative Investments, a part of the financial services group InCred, has made an investment in a banking, financial services, and insurance (BFSI) company from its debut private equity fund. This move comes after the firm ventured into the private equity space earlier this year, adding it as its third strategy alongside structured credit and liquid quant vehicles. The specific details and nature of the investment in the BFSI company have not been mentioned in the summary.

Navi plans to push ahead with credit on UPI: CEO Rajiv Naresh - The Economic Times

Economic Times

Economic Times · 2d ago

Navi plans to push ahead with credit on UPI: CEO Rajiv Naresh - The Economic Times

Navi, a fintech platform, is expanding its credit on UPI with Karnataka Bank, seeking growth in a saturated market. With millions of monthly UPI transactions and an estimated 15-16 million active users, Navi plans to enhance its credit line, home loans, and direct-to-consumer insurance strategy. Despite challenges in its insurance growth, Navi acquired Essel Mutual Fund to boost passive mutual funds, aiming to scale assets under management, while exploring eventual public listing.

Zee’s largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding

Livemint

Livemint · 1y ago

Zee’s largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding

ICICI Prudential Mutual Fund, the largest shareholder of Zee Entertainment Enterprises Ltd., has sold 42% of its holding in the company following the cancellation of the merger between Zee and Sony Corp. ICICI Prudential Mutual Fund's stake now stands at 5.09%, making it the third-largest shareholder. Nippon Mutual Fund is now the largest shareholder with 6.12%, while Life Insurance Corp of India holds 5.12%. The sale of shares earned ICICI Prudential Mutual Fund ₹365.7 crore ($49.7 million). The buyer of the shares remains undisclosed.

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