Rainmatter Capital picks up 5% stake in wealth mgmt co. Capitalmind

Bengaluru-based wealth management company Capitalmind Financial Services has raised its first institutional investment from Rainmatter Capital, which picked up a 5% stake.The new funds will be used to expand Capitalmind’s strategy regarding its broad retail reach through its mutual fund vertical and a focused wealth-management offering through its PMS arm.The deal follows the launch of Capitalmind’s mutual fund business, which recently raised INR 45 crore in its debut offering.Founded in 2014 by Deepak Shenoy, Capitalmind operates a Portfolio Management Service (PMS) and Category III Alternate Investment Fund (AIF) that claims to manage over INR 2,000 crore across its equity and debt investment strategies.