Wealth mgmt player Neo Group raises Rs.500-Cr from TVS Capital at Rs.10,000-Cr valuation

Mumbai-based Neo Group has raised INR 500 crore from private equity firm TVS Capital, at a pre-money valuation of INR 10,000 crore. The company's existing institutional investors include Peak XV Partners, MUFG Bank, and Euclidean Capital.Founded in 2021, Neo Group operates as a wealth and asset management firm, managing approximately INR 1 lakh crore in client assets, including about INR 50,000 crore in annualised recurring revenue assets under management. Its wealth management segment serves ultra-high net worth individuals (UHNIs) and family offices with a team of around 150 senior wealth advisors, while Neo Asset Management specializes in alternative assets such as private credit, infrastructure, and private equity.The company plans to use the new funds to accelerate growth and provide specialised solutions to its clients.