Fintech venture Niva Investment raises $40-M

Nitin Jain, former wealth management CEO at PAG-Edelweiss Financial Services, has formed Niva Investment with four others: Varun Bajpai, former country head of Macquarie India; Punit Jain, ex-executive director at Goldman Sachs; Hemant Daga, erstwhile CEO of Edelweiss Asset Management; and A Srikanth, former CEO of Motilal Oswal Wealth. The company, which will deal in a combination of new age financial advisory, home loans and fund management businesses, has raised USD 40 million from its founders and other private investors.