L-R
Standing- Shajikumar Devakar, Co-Founder & CEO, Neo Wealth Management; Varun Bajpai – Co-Founder, Neo Group
Sitting- Nitin Jain, Chairman & Managing Director, Neo Group; Puneet Jain, Co-Founder & CIO, Neo Asset Management; Hemant Daga, Co-Founder & CEO, Neo Asset Management
Neo Wealth & Asset Management on Sunday said it has raised ₹500 Crore in growth funding from private equity major TVS Capital Fund (TCF) and its affiliates. The funding is raised at a pre-money valuation of ₹10,000 Crore.
This is TVS Capital’s first investment in the wealth management sector. TCF is a leading domestic private equity fund, with nearly two decades of experience in backing Financial Services, and technology companies.
The capital will be deployed by Neo Group to accelerate its growth and focus on delivering specialised, knowledge-driven solutions to its clients. Neo Group claims that it manages approximately ₹1 lakh crore of total client’s assets, and has ₹50,000 Crore of Annualised Recurring Revenue Assets Under Management (ARR AUM).
The investment round makes Neo Group one of the most institutionally capitalised new-age wealth and asset management platforms in India. Its cap table includes a marquee list of global funds including Peak XV Partners (formerly Sequoia Capital India & SEA), MUFG Bank & Euclidean Capital, each of whom have invested across multiple rounds in Neo Group since inception.
Neo Wealth Management operates with nearly 150 senior wealth advisors, recruited from India’s leading domestic and global private banking institutions, and caters exclusively to UHNIs and Family Offices. Neo Asset Management’s team of fund managers deliver services across Alternative asset classes, including Private Credit, Infrastructure and Private Equity.
Commenting on the development, Shyam Srinivasan, Chairman of the FS Advisory Board at TVS Capital Funds, said: “In Greek, ‘Neo’ means new. In Indian wealth management, it may soon mean the standard. Nitin and his team have built something with genuine depth—in advisor talent, in platform rigour, and in leadership clarity. TVS Capital is happy to be part of that story.”
Nitin Jain, Chairman & Managing Director, Neo Group said: “Our objective has always been to build an enduring institution with strong governance, disciplined capital allocation and client-first alignment. The continued participation of high-quality investors reinforces confidence in our platform and our long-term strategy.”
Suraj Majee, Principal, TVS Capital, said, “India’s wealth management industry is at a structural inflection point. Neo combines the two hardest things to build—trust and talent—into a high-quality, institutional franchise.”
Go Digit, Insurance Dekho, Yubi, Vivriti Capital, and Leap Solutions are among a few portfolio companies of TVS Capital. In June 2025, the PE firm closed its fourth and biggest rupee capital fund till date of ₹3,535 crore on the back of robust participation from institutional investors. Along with co-investments, the firm looks to make over ₹4,500 crore of investments from this fund, it then said.
Published on March 22, 2026
