Nexedge Capital has raised $20 million in its maiden funding round, led by Mirae Asset Venture Investments (India) and Elev8 Venture Partners. The financing marks the wealth management company’s first institutional capital raise.
The India-based wealth management and multi-family office firm plans to use the capital to strengthen its technology platform, expand its senior banker network and increase its presence across India, including tier-2 and tier-3 cities. Nexedge also plans to develop a dedicated offering for non-resident Indians and build an NBFC lending business.
Nexedge provides wealth management and multi-family office services to high-net-worth and ultra-high-net-worth individuals, families and corporates. Its services cover investments and portfolio management as well as areas including estate planning, business advisory and global mobility.
The company identifies Anirudha Taparia as its founder, with Sidhartha Shaw, Vijeeta Sharma and Pankaj Walia as co-founders. Nexedge said it has grown to more than $3 billion in assets under management across over 1,300 clients and has onboarded more than 95 senior bankers.
