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Wealth management firm ILIOS 72 Alternative Capital raises seed round

EntrackrEntrackr · 1m ago
Wealth management firm ILIOS 72 Alternative Capital raises seed round
Medial

Wealth management firm ILIOS 72 Alternative Capital has raised Rs 1 crore in a seed funding round from a group of family offices. This marks the company’s first external raise. The proceeds will be utilized for business expansion and making its presence beyond metros along with increased access to overseas markets, ILIOS 72 Alternative Capital said in a press release. Co-founded in 2025 by Shivansh Sabharwal and Valmik Iyer, ILIOS 72 Alternative Capital is a new-age wealth management platform that aims to redefine access to alternative investments for the long-term Indian investor. The company also aims to make private markets more inclusive and make investment opportunities for the masses. The firm is working to lower barriers and give more people the tools to build real wealth. According to ILIOS 72, it operates on an open-architecture model and puts client outcomes ahead of sales goals. The company helps individuals and families access alternative investments, from marquee listed equity strategies to private equity to venture capital to overseas investment opportunities, through a transparent, research-led approach. The fund raise comes at a moment of major change in India’s financial landscape. Wealth is growing, more families are learning about long-term investing, and the demand for personalized, research-driven advice is rising fast. That’s where ILIOS 72 intends to be a long-term partner for families navigating new financial opportunities. ILIOS 72 claims to have onboarded 100 clients including several prominent business families. The company also claims to have a strong track record of managing large amounts of assets for family offices and HNI/UHNI clients in their previous roles and a proven track record of transacting in the private markets that attracted the investors.

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Fintech startup Mili raises $2 Mn led by Chiratae and BoldCap

EntrackrEntrackr · 7m ago
Fintech startup Mili raises $2 Mn led by Chiratae and BoldCap
Medial

AI meeting assistant for wealth management firm Mili has raised $2 million in its seed round led by Chiratae and BoldCap with participating investors Sparrow Capital, SFMG Wealth Advisors, Gregg Fisher (Quent Capital), and Better Capital. The proceeds will be used to enhance and accelerate Mili's product, including expanding customization capabilities, deepening integrations, ramping up its partnerships, and growing the engineering and customer success teams. Founded in early 2024 and is led by Chirag Gandhi, Mili provides enterprise-grade meeting documentation software that helps wealth management firms streamline their advisory workflows while maintaining the highest standards of compliance and customization. The platform enables financial advisors to focus on client relationships by reducing administrative overhead through secure, real-time AI assistance that works seamlessly with existing systems. According to the company, it has an industry-leading compliance architecture built for enterprise wealth management, with customizable templates and firm-specific rubrics that adapt to each practice's unique needs. Mili has a rapidly expanding integration suite supporting major wealth management platforms, backed by an SOC 2-certified infrastructure with enterprise-grade security.

Wealthtech firm Neo raises $48 Mn led by MUFG, Euclidean Capital

EntrackrEntrackr · 11m ago
Wealthtech firm Neo raises $48 Mn led by MUFG, Euclidean Capital
Medial

Wealth and asset management firm Neo has raised Rs 400 crore or $48 million in Series B round led by MUFG Bank and New York-based Euclidean Capital LLC. Existing investor Peak XV Partners also participated in this round. The funds will be used to expand Neo’s wealth management division and enhance support for its asset management business, the company said in a press release. With this, Neo has raised around 1,000 crore ($120 million) in equity capital including a $35 million round from Peak XV in October last year. Earlier this month, the company raised the first tranche of this round worth $26.5 million. As per startup data intelligence platform TheKredible, it was valued at around $231 million. Mumbai-based Neo provides advisory and yield-based investment solutions to high and ultra-high net worth individuals including indigenous family offices. Focusing in the areas of credit and real assets, the platform has also launched bespoke funds that provide capital solutions to companies providing risk adjusted returns for investors. Neo group claims that it manages nearly Rs 35,000 crore in wealth management assets and over Rs 6,000 crore in alternative asset management. The three-year-old firm reported a nine-fold growth in its revenue to Rs 65 crore in the fiscal year ending March 2023 (FY23). Significantly, it achieved such growth with a mere loss of Rs 3.6 crore during FY23. The company is yet to disclose its FY24 results. According to TheKredible, Peak VV was the largest external shareholder, holding 22.22% of the company. The company’s co-founders—Nitin Jain, Varun Bajpai, and Hemant Dogra—collectively held 63.81% prior to this funding round. More than half a dozen wealthtech startups have raised funds in the ongoing calendar year. Recently, Stable Money raised $15 million while Deserv raked in $32 million. Fisdom, Powder, Wealthy and Infynite Club also scored decent funding in the past year.

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