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VCs fire up wealthtech investments as stock market surge ignites HNI boom

Economic Times

Economic Times · 1y ago

VCs fire up wealthtech investments as stock market surge ignites HNI boom

Indian wealthtech startups are receiving substantial investments as the country's stock markets expand and wealth generation increases. Market intelligence platform Tracxn reports that investors have poured around $228 million into Indian wealthtech startups in the past two years, with $70 million invested so far in 2024. The sector is attractive due to the growing number of high net-worth individuals (HNIs) in India. Wealthtech firms utilize data analytics and technology to offer personalized investment strategies at a lower cost compared to traditional wealth management services. Two types of wealthtech startups are emerging: those focused on premium wealth management and those building fixed income products and platforms for alternative asset classes.

Related News

Flashback 2024: How PE-VC investors drove the $20-bn IPO boom

VCCircle

VCCircle · 8m ago

Flashback 2024: How PE-VC investors drove the $20-bn IPO boom

In 2024, India's primary market experienced a boom with 336 companies launching initial public offerings (IPOs), driven by private equity and venture capital investors seeking to monetize their investments. This surge was fueled by the growing valuation multiples, leading to a $20 billion IPO market. The increased activity provided ample opportunities for these investors to take their portfolio companies public, contributing significantly to the expansion and dynamism of the Indian stock market.

ITI GO Fund’s Mohit Gulati On INR 300 Cr Fund II, Indian VCs’ ‘Dry Powder’ Advantage & More

Inc42 · 1y ago

ITI GO Fund’s Mohit Gulati On INR 300 Cr Fund II, Indian VCs’ ‘Dry Powder’ Advantage & More

Mohit Gulati, co-founder of Altius Venture Partners, Oliphans Capital, and ITI Growth Opportunities Fund, emphasizes the importance of purpose and understanding people's aspirations. He has successfully raised funds and made investments in the Indian market. Gulati believes in the potential of the direct-to-consumer (D2C) sector and sees wealthtech as a key focus area for future opportunities. He also predicts a shift in the Indian venture capital market, with a focus on smaller, targeted funds. Overall, his philosophy is to support founders and contribute to their success.

Wealthtech startups Dezerv, Stable Money buck trend to draw VCs

Economic Times

Economic Times · 1y ago

Wealthtech startups Dezerv, Stable Money buck trend to draw VCs

Wealthtech startups, including Dezerv, Stable Money, Fisdom, Scripbox, and Angel One, are attracting significant equity funding. Dezerv is close to securing $30 million led by Premji Invest, while Stable Money is set to secure $17 million with RTP Global as the likely lead investor. Fisdom received $5 million from PayU, and Scripbox is reportedly looking to raise $25 million. Angel One intends to raise $240 million for its fintech operations. Wealthtech companies stand out as they have shown profitability and revenue growth, attracting investor attention.

AI boom set to fuel data centre deals in Asia this year

Economic Times

Economic Times · 1y ago

AI boom set to fuel data centre deals in Asia this year

Private equity investors and asset managers are preparing for a surge in mergers and acquisitions (M&A) and investments in data centres in the Asia Pacific region. The growing demand for digital infrastructure, driven by the artificial intelligence (AI) boom, has led to an increase in deals in the region. Asia Pacific, including Japan, has led the global data centre market in terms of M&A value, with over $840 million this year. AirTrunk, which owns 11 data centres in the region, is set to be acquired by financial sponsors such as Blackstone Inc for a valuation of up to $9.8 billion. Additionally, investments in data centres in Malaysia, Indonesia, and Japan are also expected.

Wealthtech platform Univest raises $10 million in Series A round from Bertelsmann India

Economic Times

Economic Times · 8m ago

Wealthtech platform Univest raises $10 million in Series A round from Bertelsmann India

Wealthtech platform Univest has raised $10 million in a Series A funding round led by Bertelsmann India Investments. The funds will be used to scale Univest's research-first, full-stack brokerage offering and create India's first true stock market superapp for retail investors. The company currently has over three million sign-ups and offers advisory services, stock recommendations, portfolio management, and market insights. Univest aims to redefine the brokerage model and become the go-to platform for retail investors in India.

ICICI Venture beats benchmark in new exit move

VCCircle

VCCircle · 12m ago

ICICI Venture beats benchmark in new exit move

ICICI Venture, the private equity arm of ICICI Bank, has successfully made its fourth exit move in 2024. The firm is capitalizing on the current stock market boom to monetize its investments and is achieving returns that exceed the benchmark. This move further establishes ICICI Venture as one of the pioneering alternative investors in India, operating across private equity and other investment avenues.

Nine crypto VCs on why Q1 investments were so hot and how it compares to previous bull market

TechCrunch · 1y ago

Nine crypto VCs on why Q1 investments were so hot and how it compares to previous bull market

The first quarter of 2024 has seen a surge in investments in the crypto and blockchain sectors, with a total of $2.52 billion raised, a 25% increase compared to the previous quarter. Positive legal wins for Ripple and Grayscale, the rise of decentralized finance (DeFi) on Solana, and increased demand for Bitcoin following SEC spot bitcoin ETF approvals have contributed to this surge. The crypto venture capital funding landscape is cautiously optimistic and rebounding from a challenging period, with notable upticks in deal-making activity. The market is expected to continue heating up throughout the year, driven by a bullish macro backdrop and institutional interest.

Small-town India takes to wealth advisory services in a fresh twist

Economic Times

Economic Times · 4m ago

Small-town India takes to wealth advisory services in a fresh twist

People in smaller towns are increasingly using wealth management services like portfolio management and alternative investment funds. Around 30% of new users for these services are from beyond top state capitals, driven by technological advancements, financial growth, and better access to information. Wealthtech startups, through digital and physical networks, cater to this demand. The surge in retail stock market participation and the rise of high-net-worth individuals in these areas further fuel this trend.

Did CPPIB meet the benchmark in $140-mn harvest from twin India exit moves?

VCCircle

VCCircle · 1y ago

Did CPPIB meet the benchmark in $140-mn harvest from twin India exit moves?

Canada Pension Plan Investment Board (CPPIB) sold shares in two Indian listed companies, earning around $140 million. The pension fund capitalized on the stock market boom to monetize its investments in India. CPPIB sold a portion of its stake in a cosmetics company and a pharmaceutical firm, taking advantage of the market conditions to meet its investment benchmark.

India to have 150 fintech unicorns with combined $500 billion valuation by 2030: report

Economic Times

Economic Times · 12m ago

India to have 150 fintech unicorns with combined $500 billion valuation by 2030: report

India is expected to become home to 150 fintech unicorns valued at $500 billion by 2030, according to a report by JM Financial and Beams Fintech Fund. The report predicts a surge in revenue for Indian fintech firms, reaching $260 billion by the end of the decade. The payments industry is projected to lead the fintech boom, with transaction values expected to reach $11 trillion by 2030. Other segments such as lending, insurtech, wealthtech, and neobanking are also set for significant growth. Currently, India has 26 fintech unicorns, positioning it behind the US, China, and the UK.

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