PE-VC Fund Investments
State Street invests Rs.580-Cr for 23% stake in Groww’s mutual fund unit
USA-based State Street Investment Management has invested INR 580 crore in return for a 23% stake in Bengaluru-based Groww Asset Management Ltd , the mutual fund business of the publicly listed fintech startup Groww. The investment comprises an INR 381 crore secondary share purchase from Billionbrains Garage Ventures Ltd., the parent entity of the Groww platform, and a primary infusion of nearly INR 199 crore into Groww AMC.Following the deal, State Street will hold less than 5% of the voting rights in Groww AMC.Groww entered the mutual fund business in 2023 through the acquisition of the asset management company from Indiabulls.
For FY25, Groww Asset Management had reported about INR 17 Cr in Operating Income and about INR 58 Cr in Net loss.
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