PE Fund Investments
Wealth mgmt co Neo raises $35-M from Peak XV Partners
Mumbai-headquartered wealth and asset management firm Neo Asset Management Pvt Ltd has raised USD 35 million (around INR 300 crore) from Peak XV Partners (formerly Sequoia Capital India & SEA). Neo will use the capital to catalyse growth initiatives, develop and expand its wealth management business, deepen the asset management franchise, and help attract talent. Launched in 2021, Neo claims to have more than 1,000 clients across HNIs (high-net-worth individuals), UHNIs (ultra-high net worth individuals) and multi-family office segments. It also serves global institutions such as pension funds, insurance companies, endowments, and sovereign wealth funds. Neo was founded by Nitin Jain, who was the ex-chief executive officer of Edelweiss Wealth and Asset Management. The firm claims that it has more than USD 3 Billion in assets under advisement (AUA), including USD 360 million in assets under management (AUM).
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