Wealth and asset management firm Neo is in the final stages of raising ₹162 crore (~$19 million) through an equity funding round, led by VT Capital with participation from 17 other investors.
According to regulatory filings with the Registrar of Companies (RoC), Neo’s board has approved the issuance of 1,887 equity shares at ₹8,60,410 each, amounting to ₹162.3 crore. VT Capital will invest ₹50 crore, while Ramesh Kunhikannan will contribute ₹20 crore. Other participants include Sattva Family Office, Biological E Ltd, Usha Reddy Chigarapalli, and Akshat Greentech Pvt Ltd, each committing ₹10 crore.
In Q1 CY2025, Neo raised $20 million from MUFG, Peak XV Partners, Euclidean Capital, and a large Indian family office at a ₹5,500 crore pre-money valuation. Every funding round to date has seen repeat participation from institutional investors such as Peak XV. Prior to CY2025, Neo raised approx. $120 million through multiple rounds, including a $48 million round in August 2024 and $35 million Series B funding in October 2023.
Neo Group has nearly ₹2,000 crore of group equity base, most of which is still available as cash, making it one of the most strongly capitalised and conservative wealth and asset management firms, while continuing to achieve high-quality growth.
Currently, Neo manages ₹50,000 crore in wealth management and ₹14,000 crore in alternative assets, positioning itself as a key player in India’s growing wealth-tech space.
During the fiscal year ended March 2024, Neo reported a 2.7X year-on-year increase in revenue to ₹177 crore, while losses grew to ₹13.7 crore. In FY25, the firm is expected to continue growing at a similar pace – something the industry will be closely watching.
